Boston Properties’ (BXP) Sector Perform Rating Reaffirmed at Scotiabank

Boston Properties (NYSE:BXP)‘s stock had its “sector perform” rating reaffirmed by analysts at Scotiabank in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. They presently have a $85.00 target price on the real estate investment trust’s stock. Scotiabank’s target price would indicate a potential upside of 5.00% from the company’s current price.

Several other research firms also recently weighed in on BXP. UBS Group raised their target price on shares of Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday. Piper Sandler raised shares of 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. Wedbush raised their price target on shares of Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Evercore ISI raised their target price on shares of Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Finally, StockNews.com cut shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $80.23.

Boston Properties Price Performance

Shares of BXP opened at $80.95 on Thursday. Boston Properties has a fifty-two week low of $50.64 and a fifty-two week high of $90.11. The firm’s 50 day moving average price is $81.19 and its 200 day moving average price is $70.16. 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 cap of $12.71 billion, a P/E ratio of 35.04, a PEG ratio of 0.54 and a beta of 1.18.

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

Insider Activity

In other news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction that occurred on Monday, September 9th. The shares were 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 link. In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the business’s stock in a transaction on Monday, September 9th. The shares were 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 Securities & Exchange Commission, 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 hedge funds and other institutional investors have recently bought and sold shares of BXP. Acadian Asset Management LLC bought a new stake in shares of Boston Properties in the 1st quarter valued at approximately $1,187,000. SG Americas Securities LLC raised its stake in shares of Boston Properties by 76.8% in the second quarter. SG Americas Securities LLC now owns 110,242 shares of the real estate investment trust’s stock valued at $6,786,000 after purchasing an additional 47,882 shares in the last quarter. M&G Plc acquired a new position in shares of Boston Properties in the first quarter valued at $3,807,000. Caxton Associates LP bought a new position in shares of Boston Properties during the first quarter valued at $1,423,000. Finally, DNB Asset Management AS lifted its holdings in shares of Boston Properties by 47.3% during the second quarter. DNB Asset Management AS now owns 34,755 shares of the real estate investment trust’s stock valued at $2,140,000 after acquiring an additional 11,163 shares during the period. 98.72% of the stock is currently owned by institutional investors.

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.