BXP, Inc. (NYSE:BXP) Receives $73.60 Consensus Price Target from Brokerages

BXP, Inc. (NYSE:BXP) has been given a consensus recommendation of “Hold” by the twenty-one ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $73.60.

Several analysts have issued reports on the stock. The Goldman Sachs Group set a $72.00 price objective on shares of BXP in a research report on Wednesday, February 4th. Citigroup lowered their price objective on shares of BXP from $68.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. Truist Financial lowered their price objective on shares of BXP from $74.00 to $70.00 and set a “hold” rating for the company in a research report on Monday, February 2nd. Scotiabank lowered their price objective on shares of BXP from $74.00 to $65.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Finally, Mizuho downgraded shares of BXP from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $79.00 to $62.00 in a research report on Tuesday, February 24th.

BXP Trading Up 1.5%

Shares of BXP stock opened at $58.91 on Friday. The firm has a 50-day moving average price of $55.56 and a 200 day moving average price of $64.51. BXP has a twelve month low of $49.72 and a twelve month high of $79.33. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 2.47 and a beta of 1.03. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 2.21.

BXP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, March 31st. BXP’s dividend payout ratio is 160.92%.

Insider Buying and Selling at BXP

In related news, EVP Hilary J. Spann sold 5,495 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $59.69, for a total transaction of $327,996.55. Following the transaction, the executive vice president directly owned 17,832 shares in the company, valued at $1,064,392.08. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Owen D. Thomas sold 1,198 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.22, for a total value of $73,341.56. The SEC filing for this sale provides additional information. Insiders have sold 7,887 shares of company stock worth $476,930 over the last 90 days. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in BXP by 29.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,120 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 257 shares in the last quarter. First Trust Advisors LP increased its stake in BXP by 45.7% in the 2nd quarter. First Trust Advisors LP now owns 40,369 shares of the real estate investment trust’s stock worth $2,724,000 after purchasing an additional 12,660 shares in the last quarter. Cresset Asset Management LLC increased its stake in BXP by 29.5% in the 2nd quarter. Cresset Asset Management LLC now owns 9,181 shares of the real estate investment trust’s stock worth $628,000 after purchasing an additional 2,089 shares in the last quarter. Jump Financial LLC increased its stake in BXP by 276.0% in the 2nd quarter. Jump Financial LLC now owns 47,062 shares of the real estate investment trust’s stock worth $3,175,000 after purchasing an additional 34,544 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in BXP by 99.3% in the 2nd quarter. Squarepoint Ops LLC now owns 112,591 shares of the real estate investment trust’s stock worth $7,597,000 after purchasing an additional 56,104 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

BXP Company Profile

Boston Properties, Inc (NYSE: BXP) is a publicly traded real estate investment trust (REIT) specializing in the ownership, management, and development of Class A office properties across major U.S. markets. Headquartered in Boston, Massachusetts, the company’s portfolio comprises high-quality office buildings, mixed-use developments and select retail assets designed to serve leading corporations in key metropolitan areas.

Established in 1970 by Mortimer B. Zuckerman, Boston Properties has grown through disciplined acquisitions and strategic ground-up developments.