Boston Properties (NYSE:BXP) Price Target Increased to $88.00 by Analysts at Wells Fargo & Company

Boston Properties (NYSE:BXPGet Rating) had its price objective hoisted by Wells Fargo & Company from $80.00 to $88.00 in a research note released on Tuesday, MarketBeat Ratings reports. Wells Fargo & Company currently has an overweight rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird cut their price target on Boston Properties from $105.00 to $83.00 in a report on Friday, September 23rd. Piper Sandler cut their price target on Boston Properties from $90.00 to $84.00 and set a neutral rating for the company in a report on Friday, October 7th. Sumitomo Mitsui Financial Group cut Boston Properties from an outperform rating to a neutral rating and set a $93.00 price target for the company. in a report on Thursday, August 4th. Truist Financial cut their price target on Boston Properties from $96.00 to $85.00 and set a hold rating for the company in a report on Tuesday, November 1st. Finally, StockNews.com initiated coverage on Boston Properties in a report on Wednesday, October 12th. They issued a hold rating for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $92.80.

Boston Properties Stock Performance

NYSE BXP opened at $70.52 on Tuesday. The stock has a market capitalization of $11.05 billion, a PE ratio of 12.16 and a beta of 1.05. The business has a 50 day simple moving average of $74.13 and a two-hundred day simple moving average of $86.64. The company has a debt-to-equity ratio of 1.68, a current ratio of 4.08 and a quick ratio of 4.08. Boston Properties has a 1-year low of $68.80 and a 1-year high of $133.11.

Boston Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Friday, September 30th were paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend was Thursday, September 29th. Boston Properties’s dividend payout ratio is currently 67.59%.

Institutional Investors Weigh In On Boston Properties

A number of institutional investors and hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Boston Properties during the 3rd quarter worth approximately $975,000. National Pension Service lifted its stake in shares of Boston Properties by 11.3% during the 3rd quarter. National Pension Service now owns 227,427 shares of the real estate investment trust’s stock worth $16,984,000 after acquiring an additional 23,075 shares during the last quarter. CENTRAL TRUST Co lifted its stake in shares of Boston Properties by 103.8% during the 3rd quarter. CENTRAL TRUST Co now owns 540 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 275 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Boston Properties by 4.9% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,111 shares of the real estate investment trust’s stock worth $383,000 after acquiring an additional 239 shares during the last quarter. Finally, Kentucky Retirement Systems lifted its stake in shares of Boston Properties by 5.5% during the 3rd quarter. Kentucky Retirement Systems now owns 11,165 shares of the real estate investment trust’s stock worth $837,000 after acquiring an additional 581 shares during the last quarter. 92.47% of the stock is owned by institutional investors.

Boston Properties Company Profile

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Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.

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Analyst Recommendations for Boston Properties (NYSE:BXP)

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