Boston Properties (NYSE:BXP) Price Target Raised to $80.00

Boston Properties (NYSE:BXP) had its price objective raised by UBS Group from $64.00 to $80.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the company. Scotiabank lifted their target price on Boston Properties from $82.00 to $91.00 and gave the company a “sector outperform” rating in a research note on Friday, October 25th. Truist Financial boosted their price target on shares of Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Evercore ISI lifted their price objective on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. StockNews.com lowered Boston Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $78.00 to $105.00 in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $80.23.

Boston Properties Price Performance

Boston Properties stock traded down $0.29 during midday trading on Tuesday, hitting $82.33. The company’s stock had a trading volume of 137,638 shares, compared to its average volume of 1,271,700. Boston Properties has a 12 month low of $50.64 and a 12 month high of $90.11. The company has a quick ratio of 4.83, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $12.93 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 0.55 and a beta of 1.18. The stock’s 50-day moving average price is $81.19 and its 200-day moving average price is $70.16.

Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The business had revenue of $859.23 million during the quarter, compared to the consensus estimate of $829.91 million. During the same quarter in the previous year, the firm earned $1.86 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts anticipate that Boston Properties will post 7.1 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Monday, September 30th. Boston Properties’s dividend payout ratio is currently 169.70%.

Insider Buying and Selling

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

Institutional Trading of Boston Properties

Several large investors have recently made changes to their positions in BXP. Vanguard Group Inc. boosted its holdings in Boston Properties by 0.5% in the first quarter. Vanguard Group Inc. now owns 23,568,962 shares of the real estate investment trust’s stock valued at $1,539,289,000 after acquiring an additional 122,583 shares during the last quarter. Earnest Partners LLC grew its position 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 worth $162,348,000 after buying an additional 542,610 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Boston Properties by 6.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,923,225 shares of the real estate investment trust’s stock valued at $118,394,000 after acquiring an additional 120,650 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Boston Properties by 32.9% in the 2nd quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock valued at $92,567,000 after purchasing an additional 371,946 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Boston Properties by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,248,824 shares of the real estate investment trust’s stock valued at $76,878,000 after purchasing an additional 38,048 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.