Boston Properties (NYSE:BXP) Price Target Increased to $91.00 by Analysts at Scotiabank

Boston Properties (NYSE:BXP) had its price target raised by Scotiabank from $82.00 to $91.00 in a research note released on Friday, Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Truist Financial increased their target price on Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Piper Sandler upgraded Boston Properties from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Finally, Evercore ISI boosted their target price on shares of Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.82.

Boston Properties Price Performance

Shares of BXP stock opened at $87.39 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83. Boston Properties has a fifty-two week low of $50.64 and a fifty-two week high of $90.11. The firm has a market cap of $13.73 billion, a P/E ratio of 71.63, a P/E/G ratio of 0.56 and a beta of 1.18. The business’s 50 day moving average price is $79.91 and its 200-day moving average price is $69.13.

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

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 annualized dividend and a yield of 4.49%. Boston Properties’s dividend payout ratio (DPR) is presently 321.31%.

Insider Transactions at Boston Properties

In related news, EVP Peter V. Otteni sold 4,785 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 transaction of $351,410.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction dated 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. Insiders own 1.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXP. Earnest Partners LLC lifted its holdings in shares of Boston Properties by 25.9% during the 2nd quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock valued at $162,348,000 after buying an additional 542,610 shares during the period. Sei Investments Co. boosted its position in Boston Properties by 32.9% in the second quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock worth $92,567,000 after purchasing an additional 371,946 shares during the last quarter. Swedbank AB bought a new stake in shares of Boston Properties during the 1st quarter valued at about $16,729,000. Point72 Asset Management L.P. purchased a new stake in shares of Boston Properties during the 2nd quarter valued at about $12,914,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Boston Properties by 356.2% in the 1st quarter. Russell Investments Group Ltd. now owns 245,758 shares of the real estate investment trust’s stock worth $15,977,000 after purchasing an additional 191,883 shares during the period. Institutional investors own 98.72% of the company’s stock.

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.