Boston Properties (NYSE:BXP) Price Target Raised to $84.00 at Evercore ISI

Boston Properties (NYSE:BXP) had its target price upped by stock analysts at Evercore ISI from $77.00 to $84.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s price target suggests a potential upside of 4.91% from the stock’s current price.

Several other research analysts also recently commented on the company. Wedbush raised their price objective on Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Truist Financial lifted 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. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price objective on shares of Boston Properties in a research note on Thursday, June 20th. Scotiabank upped their target price on shares of Boston Properties from $76.00 to $82.00 and gave the stock a “sector outperform” rating in a report on Wednesday, September 11th. Finally, StockNews.com raised Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $74.08.

Boston Properties Stock Performance

Shares of Boston Properties stock traded up $0.01 during trading hours on Monday, reaching $80.07. 94,568 shares of the stock traded hands, compared to its average volume of 1,285,478. The company has a 50 day moving average price of $70.41 and a 200 day moving average price of $64.81. Boston Properties has a one year low of $50.64 and a one year high of $80.84. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of 65.98, a P/E/G ratio of 0.35 and a beta of 1.18.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data 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). Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The business had revenue of $850.48 million for the quarter, compared to the consensus estimate of $819.49 million. During the same period in the previous year, the firm earned $1.86 EPS. The company’s revenue was up 4.1% on a year-over-year basis. On average, equities research analysts expect that Boston Properties will post 7.11 earnings per share for the current fiscal year.

Insider Transactions at Boston Properties

In related news, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.25, for a total transaction of $1,621,248.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction on 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 Investors Weigh In On Boston Properties

Several institutional investors have recently made changes to their positions in BXP. Point72 Asia Singapore Pte. Ltd. raised its position in 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. grew its stake in shares of Boston Properties by 115.5% during 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 last quarter. Abich Financial Wealth Management LLC raised its holdings 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 worth $69,000 after buying an additional 395 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake 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 worth $89,000 after acquiring an additional 547 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Boston Properties during the 2nd quarter worth approximately $91,000. 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.