Boston Properties, Inc. (NYSE:BXP) Receives $74.83 Average PT from Analysts

Shares of Boston Properties, Inc. (NYSE:BXP) have received a consensus rating of “Hold” from the eleven ratings firms that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $75.45.

A number of equities research analysts have commented on the stock. Truist Financial raised their price target on shares of Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Evercore ISI raised their target price on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Wells Fargo & Company boosted their target price on Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price target on shares of Boston Properties in a report on Thursday, June 20th. Finally, Scotiabank upped their target price on Boston Properties from $76.00 to $82.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, September 11th.

Insider Activity

In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $73.44, for a total transaction of $351,410.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Boston Properties by 212.1% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 386 shares during the period. UMB Bank n.a. increased its position 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 worth $44,000 after buying an additional 380 shares during the last quarter. Abich Financial Wealth Management LLC raised its stake in shares of 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. Northwestern Mutual Wealth Management Co. lifted its position in shares of Boston Properties by 61.4% during the 2nd 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 last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Boston Properties during the 2nd quarter worth $91,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Boston Properties Stock Up 1.7 %

Shares of Boston Properties stock opened at $88.91 on Tuesday. The stock’s 50-day moving average is $77.35 and its 200 day moving average is $67.82. Boston Properties has a one year low of $50.64 and a one year high of $89.12. The firm has a market cap of $13.96 billion, a price-to-earnings ratio of 72.88, a PEG ratio of 0.56 and a beta of 1.18. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.83.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The business had revenue of $850.48 million for the quarter, compared to the consensus estimate of $819.49 million. Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. Boston Properties’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 earnings per share. Equities research analysts anticipate that Boston Properties will post 7.11 EPS for the current year.

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.98 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.92 annualized dividend and a dividend yield of 4.41%. Boston Properties’s payout ratio is 321.31%.

About Boston Properties

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.