Boston Properties, Inc. (NYSE:BXP) Receives $115.63 Consensus Target Price from Brokerages

Boston Properties, Inc. (NYSE:BXP) has been assigned an average rating of “Hold” from the eighteen brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $115.63.

BXP has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on shares of Boston Properties from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 1st. Barclays initiated coverage on shares of Boston Properties in a research note on Wednesday, September 1st. They issued an “overweight” rating and a $134.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Boston Properties from $107.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, June 25th. Morgan Stanley raised their price target on shares of Boston Properties from $103.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, July 14th. Finally, Truist Securities raised their price target on shares of Boston Properties from $109.00 to $130.00 and gave the company a “hold” rating in a report on Thursday, June 17th.

In related news, SVP Peter V. Otteni sold 5,027 shares of Boston Properties stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $113.36, for a total value of $569,860.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Raymond A. Ritchey sold 45,000 shares of Boston Properties stock in a transaction dated Friday, September 3rd. The shares were sold at an average price of $113.15, for a total transaction of $5,091,750.00. Following the completion of the sale, the executive vice president now owns 18,410 shares in the company, valued at $2,083,091.50. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of Boston Properties by 11.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,477,283 shares of the real estate investment trust’s stock worth $149,590,000 after buying an additional 147,739 shares in the last quarter. Boston Private Wealth LLC raised its position in shares of Boston Properties by 19.6% during the 1st quarter. Boston Private Wealth LLC now owns 4,009 shares of the real estate investment trust’s stock worth $406,000 after buying an additional 657 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Boston Properties by 8.2% during the 1st quarter. Teacher Retirement System of Texas now owns 31,071 shares of the real estate investment trust’s stock worth $3,146,000 after buying an additional 2,348 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Boston Properties by 276.5% during the 1st quarter. Acadian Asset Management LLC now owns 5,196 shares of the real estate investment trust’s stock worth $526,000 after buying an additional 3,816 shares in the last quarter. Finally, UBS Group AG raised its position in shares of Boston Properties by 7.6% during the 1st quarter. UBS Group AG now owns 303,953 shares of the real estate investment trust’s stock worth $30,778,000 after buying an additional 21,355 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

NYSE BXP traded up $0.47 during mid-day trading on Monday, reaching $116.25. 2,737 shares of the stock were exchanged, compared to its average volume of 990,180. Boston Properties has a 1-year low of $69.69 and a 1-year high of $124.24. The business’s fifty day simple moving average is $113.34 and its 200 day simple moving average is $113.04. The stock has a market capitalization of $18.15 billion, a PE ratio of 59.99, a PEG ratio of 2.93 and a beta of 1.22. The company has a debt-to-equity ratio of 1.58, a quick ratio of 4.75 and a current ratio of 4.75.

Boston Properties (NYSE:BXP) last announced its earnings results on Monday, July 26th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.14. Boston Properties had a net margin of 11.30% and a return on equity of 3.86%. The firm had revenue of $713.81 million for the quarter, compared to analyst estimates of $691.17 million. During the same quarter last year, the business earned $1.52 earnings per share. Boston Properties’s revenue was up 9.0% compared to the same quarter last year. On average, analysts anticipate that Boston Properties will post 6.63 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Thursday, September 30th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Wednesday, September 29th. Boston Properties’s dividend payout ratio (DPR) is presently 62.32%.

Boston Properties Company Profile

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.

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Analyst Recommendations for Boston Properties (NYSE:BXP)

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