Boston Properties (NYSE:BXP) PT Raised to $77.00

Boston Properties (NYSE:BXP) had its target price raised by equities researchers at Evercore ISI from $76.00 to $77.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s price objective would indicate a potential upside of 3.49% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Scotiabank boosted their target price on Boston Properties from $74.00 to $76.00 and gave the company a “sector outperform” rating in a research note on Wednesday, August 7th. Truist Financial boosted their target price on Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday. Wedbush boosted their target price on Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Barclays decreased their target price on Boston Properties from $66.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, May 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price objective on shares of Boston Properties in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $71.92.

Boston Properties Stock Up 0.2 %

Shares of Boston Properties stock opened at $74.40 on Wednesday. The company has a quick ratio of 4.77, a current ratio of 4.83 and a debt-to-equity ratio of 1.90. Boston Properties has a 12 month low of $50.64 and a 12 month high of $74.91. The business has a fifty day simple moving average of $67.00 and a 200 day simple moving average of $63.94. The stock has a market cap of $11.69 billion, a PE ratio of 60.98, a price-to-earnings-growth ratio of 0.46 and a beta of 1.18.

Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The company had revenue of $850.48 million for the quarter, compared to analyst estimates of $819.49 million. During the same period last year, the firm earned $1.86 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts predict that Boston Properties will post 7.12 EPS for the current year.

Insider Buying and Selling

In related news, EVP Peter V. Otteni sold 4,785 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Boston Properties

Institutional investors and hedge funds have recently bought and sold shares of the stock. Manchester Capital Management LLC raised its stake in Boston Properties by 435.9% in the fourth quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 340 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its stake in Boston Properties by 212.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 386 shares during the period. UMB Bank n.a. raised its stake in Boston Properties by 115.5% in the second quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 380 shares during the period. Abich Financial Wealth Management LLC raised its stake in Boston Properties by 59.1% in the first quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 395 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Boston Properties by 61.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 547 shares during the period. Institutional investors own 98.72% of the company’s stock.

Boston Properties Company Profile

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.