Boston Properties (NYSE:BXP) PT Lowered to $64.00 at Wells Fargo & Company

Boston Properties (NYSE:BXP – Get Rating) had its price target cut by Wells Fargo & Company from $76.00 to $64.00 in a report issued on Thursday, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

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

Boston Properties Price Performance

Shares of NYSE BXP opened at $51.10 on Thursday. Boston Properties has a 1 year low of $50.18 and a 1 year high of $133.11. The company has a debt-to-equity ratio of 1.73, a current ratio of 4.19 and a quick ratio of 4.19. The company’s 50-day moving average is $68.18 and its 200 day moving average is $71.27. The stock has a market capitalization of $8.01 billion, a P/E ratio of 9.46 and a beta of 1.08.

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

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 30th. Investors of record on Friday, December 30th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 7.67%. The ex-dividend date of this dividend was Thursday, December 29th. Boston Properties’s dividend payout ratio is currently 72.59%.

Insiders Place Their Bets

In other Boston Properties news, Director Matthew J. Lustig bought 10,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The stock was acquired at an average price of $52.92 per share, with a total value of $529,200.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $529,200. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Properties

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Boston Properties by 0.4% in the third quarter. Vanguard Group Inc. now owns 23,527,167 shares of the real estate investment trust’s stock valued at $1,763,832,000 after purchasing an additional 91,834 shares during the period. BlackRock Inc. boosted its stake in Boston Properties by 0.5% during the third quarter. BlackRock Inc. now owns 17,154,333 shares of the real estate investment trust’s stock worth $1,286,059,000 after buying an additional 83,628 shares during the period. Norges Bank purchased a new position in Boston Properties during the fourth quarter worth about $857,967,000. State Street Corp boosted its stake in Boston Properties by 0.4% during the third quarter. State Street Corp now owns 11,071,148 shares of the real estate investment trust’s stock worth $840,326,000 after buying an additional 47,386 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its stake in Boston Properties by 107,870.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,991,255 shares of the real estate investment trust’s stock worth $404,889,000 after buying an additional 5,985,706 shares during the period. Hedge funds and other institutional investors own 88.62% of the company’s stock.

Boston Properties Company Profile

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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.