Barclays Cuts Boston Properties (NYSE:BXP) Price Target to $66.00

Boston Properties (NYSE:BXP) had its price objective lowered by equities researchers at Barclays from $67.00 to $66.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s target price points to a potential upside of 1.06% from the stock’s current price.

Several other equities analysts also recently issued reports on BXP. Deutsche Bank Aktiengesellschaft started coverage on Boston Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 target price on the stock. StockNews.com upgraded Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Truist Financial decreased their target price on Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, March 5th. Piper Sandler upped their price target on shares of Boston Properties from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, December 20th. Finally, Jefferies Financial Group upgraded Boston Properties from a “hold” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $80.00 in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.56.

Boston Properties Trading Up 3.4 %

Shares of NYSE BXP opened at $65.31 on Wednesday. The business has a fifty day moving average price of $65.36 and a 200 day moving average price of $62.70. Boston Properties has a 1-year low of $46.80 and a 1-year high of $73.97. The company has a debt-to-equity ratio of 1.99, a current ratio of 5.40 and a quick ratio of 5.40. The stock has a market capitalization of $10.25 billion, a P/E ratio of 53.98 and a beta of 1.15.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.05). Boston Properties had a return on equity of 2.32% and a net margin of 5.81%. The firm had revenue of $828.90 million during the quarter, compared to analysts’ expectations of $811.59 million. During the same period in the prior year, the firm posted $1.86 earnings per share. Boston Properties’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts expect that Boston Properties will post 7.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Raymond A. Ritchey sold 14,150 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total value of $889,186.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Boston Properties

Large investors have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP purchased a new position in shares of Boston Properties during the third quarter worth $904,000. Natixis lifted its position in shares of Boston Properties by 48.9% during the 2nd quarter. Natixis now owns 8,079 shares of the real estate investment trust’s stock worth $465,000 after buying an additional 2,653 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Boston Properties by 12.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 221,845 shares of the real estate investment trust’s stock valued at $13,195,000 after buying an additional 23,795 shares in the last quarter. Whittier Trust Co. grew its position in shares of Boston Properties by 345.4% in the 4th quarter. Whittier Trust Co. now owns 176,741 shares of the real estate investment trust’s stock valued at $12,401,000 after buying an additional 137,058 shares during the last quarter. Finally, abrdn plc raised its stake in Boston Properties by 8.2% during the 3rd quarter. abrdn plc now owns 684,970 shares of the real estate investment trust’s stock worth $40,742,000 after acquiring an additional 51,926 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other 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.