Wells Fargo & Company Cuts Boston Properties (NYSE:BXP) Price Target to $80.00

Boston Properties (NYSE:BXP) had its target price lowered by Wells Fargo & Company from $88.00 to $80.00 in a report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on BXP. Barclays increased their price objective on Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. UBS Group increased their target price on Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Compass Point raised Boston Properties from a “neutral” rating to a “buy” rating and increased their target price for the stock from $80.00 to $88.00 in a report on Thursday, November 14th. Truist Financial increased their target price on Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Wedbush lowered Boston Properties from a “hold” rating to a “strong sell” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $82.23.

Boston Properties Stock Down 1.6 %

BXP stock opened at $70.42 on Monday. 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 $11.13 billion, a price-to-earnings ratio of 704.27, a PEG ratio of 0.95 and a beta of 1.18. The business’s fifty day moving average price is $74.35 and its two-hundred day moving average price is $76.96. Boston Properties has a fifty-two week low of $56.46 and a fifty-two week high of $90.11.

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

Boston Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Tuesday, December 31st were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 5.57%. The ex-dividend date was Tuesday, December 31st. Boston Properties’s dividend payout ratio (DPR) is presently 3,920.39%.

Insider Activity at Boston Properties

In other news, EVP Hilary J. Spann sold 12,379 shares of Boston Properties stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $72.02, for a total transaction of $891,535.58. Following the sale, the executive vice president now directly owns 7,271 shares of the company’s stock, valued at approximately $523,657.42. This trade represents a 63.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.35% of the stock is currently owned by insiders.

Institutional Trading of Boston Properties

Hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank boosted its stake in shares of Boston Properties by 15.7% during the third quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust’s stock valued at $3,966,000 after purchasing an additional 6,687 shares in the last quarter. Sun Life Financial Inc. acquired a new stake in shares of Boston Properties during the third quarter valued at about $9,674,000. Raymond James & Associates boosted its stake in shares of Boston Properties by 11.9% during the third quarter. Raymond James & Associates now owns 110,587 shares of the real estate investment trust’s stock valued at $8,898,000 after purchasing an additional 11,752 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Boston Properties by 4.2% during the third quarter. Whittier Trust Co. now owns 296,354 shares of the real estate investment trust’s stock valued at $23,844,000 after purchasing an additional 12,018 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its stake in shares of Boston Properties by 5,025.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 603 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

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.