Wells Fargo & Company Trims Boston Properties (NYSE:BXP) Target Price to $64.00

Boston Properties (NYSE:BXP – Get Rating) had its target price dropped by research analysts at Wells Fargo & Company from $76.00 to $64.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 25.24% from the company’s previous close.

A number of other research firms have also recently commented on BXP. Mizuho reduced their price target on Boston Properties from $95.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, January 4th. Truist Financial boosted their price objective on Boston Properties from $82.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, February 6th. Morgan Stanley reduced their price objective on Boston Properties from $68.00 to $67.00 and set an “equal weight” rating for the company in a report on Thursday, March 9th. StockNews.com started coverage on Boston Properties in a report on Thursday. They set a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft cut Boston Properties from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $91.00 to $74.00 in a report on Wednesday, January 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $85.39.

Boston Properties Trading Down 4.5 %

Boston Properties stock opened at $51.10 on Thursday. Boston Properties has a 52 week low of $50.18 and a 52 week high of $133.11. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.19 and a current ratio of 4.19. The stock has a market capitalization of $8.01 billion, a P/E ratio of 9.46 and a beta of 1.08. The stock has a 50-day simple moving average of $68.18 and a 200 day simple moving average of $71.33.

Boston Properties (NYSE:BXP – Get Rating) last posted its quarterly earnings results on Wednesday, February 1st. The real estate investment trust reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($1.06). Boston Properties had a return on equity of 10.31% and a net margin of 27.31%. The business had revenue of $789.82 million for the quarter, compared to the consensus estimate of $732.90 million. During the same quarter in the previous year, the business posted $1.55 EPS. Analysts expect that Boston Properties will post 7.14 earnings per share for the current year.

Insider Buying and Selling at Boston Properties

In other news, Director Matthew J. Lustig acquired 10,000 shares of the stock in a transaction on Wednesday, March 15th. The stock was acquired at an average cost of $52.92 per share, for a total transaction of $529,200.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $529,200. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. increased its holdings in shares of Boston Properties by 2.5% during the third quarter. UBS Asset Management Americas Inc. now owns 1,323,299 shares of the real estate investment trust’s stock worth $99,208,000 after buying an additional 32,869 shares in the last quarter. ExodusPoint Capital Management LP increased its holdings in shares of Boston Properties by 205.0% during the second quarter. ExodusPoint Capital Management LP now owns 64,411 shares of the real estate investment trust’s stock worth $5,731,000 after buying an additional 43,292 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Boston Properties by 6.9% during the third quarter. Bank of New York Mellon Corp now owns 1,281,559 shares of the real estate investment trust’s stock worth $96,076,000 after buying an additional 82,441 shares in the last quarter. Baker Tilly Wealth Management LLC increased its holdings in shares of Boston Properties by 9.6% during the third quarter. Baker Tilly Wealth Management LLC now owns 5,241 shares of the real estate investment trust’s stock worth $393,000 after buying an additional 459 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Boston Properties by 9.4% during the second quarter. Rhumbline Advisers now owns 291,243 shares of the real estate investment trust’s stock worth $25,915,000 after buying an additional 25,127 shares in the last quarter. 88.62% of the stock is currently owned by institutional investors and hedge funds.

About Boston Properties

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Boston Properties, Inc operates as a real estate investment trust. It develops, acquires, manages and owns a portfolio of Class A properties. The firm operates through the following geographical locations: Boston, New York, San Francisco and Washington. The company was founded by Mortimer Benjamin Zuckerman and Edward H.