Boston Properties (NYSE:BXP) Price Target Raised to $76.00 at Scotiabank

Boston Properties (NYSE:BXP) had its price target upped by Scotiabank from $74.00 to $76.00 in a research note published on Wednesday, Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

A number of other research firms have also recently commented on BXP. Barclays cut their price target on shares of Boston Properties from $66.00 to $65.00 and set an equal weight rating for the company in a research note on Friday, May 24th. Morgan Stanley restated an equal weight rating and issued a $62.00 price objective on shares of Boston Properties in a report on Thursday, June 20th. Evercore ISI lowered their price target on shares of Boston Properties from $73.00 to $69.00 and set an outperform rating for the company in a research note on Monday, May 6th. Wedbush raised their price objective on Boston Properties from $63.00 to $70.00 and gave the company a neutral rating in a research note on Monday. Finally, StockNews.com downgraded shares of Boston Properties from a hold rating to a sell rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $70.44.

Boston Properties Price Performance

NYSE BXP traded up $0.49 during trading hours on Wednesday, hitting $68.04. The company had a trading volume of 141,918 shares, compared to its average volume of 1,340,491. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.77 and a current ratio of 4.83. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 55.37, a PEG ratio of 0.46 and a beta of 1.18. Boston Properties has a 52 week low of $50.64 and a 52 week high of $73.97. The firm has a 50 day simple moving average of $63.89 and a 200 day simple moving average of $63.59.

Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The firm had revenue of $850.48 million for the quarter, compared to the consensus estimate of $819.49 million. Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $1.86 EPS. Equities research analysts expect that Boston Properties will post 7.12 earnings per share for the current year.

Boston Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend was Friday, June 28th. Boston Properties’s dividend payout ratio (DPR) is presently 321.31%.

Institutional Investors Weigh In On Boston Properties

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ieq Capital LLC increased its stake in Boston Properties by 1.5% in the 4th quarter. Ieq Capital LLC now owns 11,184 shares of the real estate investment trust’s stock worth $785,000 after buying an additional 164 shares in the last quarter. Signaturefd LLC raised its stake in Boston Properties by 2.6% during the 2nd quarter. Signaturefd LLC now owns 6,597 shares of the real estate investment trust’s stock valued at $406,000 after purchasing an additional 168 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Boston Properties by 0.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 63,629 shares of the real estate investment trust’s stock worth $3,917,000 after purchasing an additional 175 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in Boston Properties by 2.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 6,620 shares of the real estate investment trust’s stock worth $432,000 after purchasing an additional 182 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in Boston Properties by 6.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,348 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 199 shares in the last quarter. Hedge funds and other 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.