Boston Properties (NYSE:BXP) Price Target Cut to $85.00 by Analysts at Piper Sandler

Boston Properties (NYSE:BXP) had its price target cut by investment analysts at Piper Sandler from $100.00 to $85.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price target indicates a potential upside of 34.51% from the company’s current price.

A number of other equities research analysts have also recently weighed in on BXP. Mizuho dropped their price objective on Boston Properties from $92.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Barclays dropped their target price on Boston Properties from $89.00 to $79.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Scotiabank reduced their price target on shares of Boston Properties from $85.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Wedbush cut shares of Boston Properties from a “hold” rating to a “strong sell” rating in a report on Thursday, January 30th. Finally, Jefferies Financial Group assumed coverage on shares of Boston Properties in a report on Monday, March 17th. They set a “buy” rating and a $78.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Boston Properties currently has an average rating of “Hold” and a consensus target price of $79.83.

Boston Properties Trading Down 0.6 %

NYSE BXP opened at $63.19 on Tuesday. The company has a debt-to-equity ratio of 2.09, a current ratio of 5.69 and a quick ratio of 5.51. The stock has a market capitalization of $10.00 billion, a P/E ratio of 631.96, a PEG ratio of 0.91 and a beta of 1.06. The firm’s 50-day moving average is $66.78 and its two-hundred day moving average is $74.42. Boston Properties has a 12 month low of $54.22 and a 12 month high of $90.11.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, January 28th. The real estate investment trust reported $1.79 EPS for the quarter, topping the consensus estimate of $0.51 by $1.28. Boston Properties had a net margin of 0.38% and a return on equity of 3.90%. On average, sell-side analysts anticipate that Boston Properties will post 6.91 earnings per share for the current year.

Insider Buying and Selling at Boston Properties

In other news, EVP Hilary J. Spann sold 12,379 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $72.02, for a total value of $891,535.58. Following the transaction, the executive vice president now owns 7,271 shares in the company, valued at approximately $523,657.42. This represents a 63.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donna D. Garesche sold 2,143 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $67.87, for a total value of $145,445.41. The disclosure for this sale can be found here. 1.35% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BXP. NewSquare Capital LLC boosted its stake in Boston Properties by 98.3% in the first quarter. NewSquare Capital LLC now owns 108,363 shares of the real estate investment trust’s stock valued at $7,281,000 after acquiring an additional 53,727 shares in the last quarter. Sentry Investment Management LLC purchased a new position in Boston Properties during the 1st quarter worth approximately $34,000. Deutsche Bank AG increased its position in Boston Properties by 30.6% during the fourth quarter. Deutsche Bank AG now owns 949,603 shares of the real estate investment trust’s stock worth $70,612,000 after buying an additional 222,284 shares during the period. Kelly Lawrence W & Associates Inc. CA boosted its holdings in shares of Boston Properties by 75.4% in the fourth quarter. Kelly Lawrence W & Associates Inc. CA now owns 2,500 shares of the real estate investment trust’s stock valued at $186,000 after acquiring an additional 1,075 shares during the period. Finally, Canada Post Corp Registered Pension Plan purchased a new position in shares of Boston Properties during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

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.