Boston Properties (NYSE:BXP) Price Target Cut to $69.00

Boston Properties (NYSE:BXP) had its price target dropped by equities research analysts at Evercore ISI from $73.00 to $69.00 in a report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s price target suggests a potential upside of 12.09% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Truist Financial decreased their price target on Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, March 5th. Barclays lowered their price target on shares of Boston Properties from $67.00 to $66.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 27th. Wedbush cut their price objective on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday. BMO Capital Markets lowered their target price on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a research note on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Boston Properties in a research report on Tuesday, January 30th. They set a “hold” rating and a $74.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $69.53.

Boston Properties Stock Performance

Shares of Boston Properties stock traded up $0.78 during trading on Monday, hitting $61.56. 333,042 shares of the company’s stock were exchanged, compared to its average volume of 1,411,772. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 50.32 and a beta of 1.15. The business has a 50-day simple moving average of $62.62 and a 200-day simple moving average of $63.12. Boston Properties has a 52-week low of $46.80 and a 52-week high of $73.97. The company has a debt-to-equity ratio of 1.91, a quick ratio of 5.40 and a current ratio of 4.77.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.22). The company had revenue of $839.44 million for the quarter, compared to analysts’ expectations of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 EPS. On average, research analysts forecast that Boston Properties will post 7.07 EPS for the current year.

Insider Buying and Selling at Boston Properties

In other news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total transaction of $889,186.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.35% of the stock is owned by company insiders.

Institutional Trading of Boston Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in BXP. Manchester Capital Management LLC raised its stake in shares of Boston Properties by 435.9% in the 4th quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 340 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new stake in Boston Properties in the fourth quarter valued at approximately $29,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Boston Properties in the 4th quarter valued at $34,000. Sound Income Strategies LLC lifted its stake in Boston Properties by 770.9% during the 4th quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 424 shares in the last quarter. Finally, Cambridge Trust Co. boosted its holdings in Boston Properties by 80.1% during the 4th quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 250 shares during the period. Institutional investors and hedge funds 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.