Evercore ISI Lowers Boston Properties (NYSE:BXP) Price Target to $69.00

Boston Properties (NYSE:BXP) had its price target trimmed by Evercore ISI from $73.00 to $69.00 in a report released on Monday, Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the stock. Barclays cut their price target on shares of Boston Properties from $67.00 to $66.00 and set an equal weight rating on the stock in a report on Wednesday, March 27th. StockNews.com cut shares of Boston Properties from a hold rating to a sell rating in a research report on Friday, May 3rd. Wedbush decreased their price target on Boston Properties from $66.00 to $63.00 and set a neutral rating for the company in a research note on Thursday, May 2nd. BMO Capital Markets cut their price objective on Boston Properties from $80.00 to $78.00 and set an outperform rating on the stock in a research note on Monday, April 8th. Finally, 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 research report on Tuesday, March 5th. Two analysts have rated the stock with a sell rating, eleven 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 presently has an average rating of Hold and an average target price of $69.53.

Boston Properties Stock Down 1.2 %

Shares of NYSE BXP opened at $60.12 on Monday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 5.40 and a current ratio of 4.77. Boston Properties has a 1 year low of $46.80 and a 1 year high of $73.97. The stock’s 50-day simple moving average is $62.49 and its 200-day simple moving average is $63.22. The firm has a market cap of $9.44 billion, a price-to-earnings ratio of 49.28 and a beta of 1.15.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.22). The business had revenue of $839.44 million for the quarter, compared to analysts’ expectations of $808.68 million. Boston Properties had a return on equity of 2.35% and a net margin of 5.81%. Boston Properties’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 earnings per share. As a group, equities analysts anticipate that Boston Properties will post 7.07 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a dividend of $0.98 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.92 annualized dividend and a dividend yield of 6.52%. Boston Properties’s dividend payout ratio is currently 321.31%.

Insider Buying and Selling

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the firm’s stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.35% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Entropy Technologies LP bought a new stake in shares of Boston Properties during the first quarter valued at about $1,485,000. US Bancorp DE grew its position in Boston Properties by 2.9% in the 1st quarter. US Bancorp DE now owns 48,289 shares of the real estate investment trust’s stock valued at $3,154,000 after buying an additional 1,378 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Boston Properties by 356.2% during the 1st quarter. Russell Investments Group Ltd. now owns 245,758 shares of the real estate investment trust’s stock valued at $15,977,000 after buying an additional 191,883 shares during the period. Inspire Investing LLC raised its position in shares of Boston Properties by 8.3% during the 1st quarter. Inspire Investing LLC now owns 6,803 shares of the real estate investment trust’s stock worth $444,000 after buying an additional 523 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Boston Properties by 42.2% in the 1st quarter. Sei Investments Co. now owns 1,131,741 shares of the real estate investment trust’s stock worth $73,914,000 after acquiring an additional 335,686 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

About Boston Properties

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.