Analysts Set Boston Properties, Inc. (NYSE:BXP) Price Target at $69.44

Boston Properties, Inc. (NYSE:BXP) has been assigned a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $69.44.

BXP has been the topic of a number of analyst reports. BMO Capital Markets cut their price objective on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a report on Monday, April 8th. StockNews.com raised shares of Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Truist Financial cut their price objective on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating on the stock in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Boston Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $74.00 price objective on the stock. Finally, Barclays cut their price objective 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.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total transaction of $889,186.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.35% of the company’s stock.

Institutional Investors Weigh In On Boston Properties

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in shares of Boston Properties during the fourth quarter valued at about $15,810,000. Dark Forest Capital Management LP bought a new stake in shares of Boston Properties during the third quarter valued at about $904,000. abrdn plc increased its position in shares of Boston Properties by 4.2% during the fourth quarter. abrdn plc now owns 713,840 shares of the real estate investment trust’s stock valued at $50,090,000 after buying an additional 28,870 shares during the period. Knights of Columbus Asset Advisors LLC bought a new stake in shares of Boston Properties during the fourth quarter valued at about $5,017,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Boston Properties by 12.0% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 221,845 shares of the real estate investment trust’s stock valued at $13,195,000 after buying an additional 23,795 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Boston Properties Stock Performance

Shares of BXP stock opened at $61.51 on Tuesday. The firm has a market capitalization of $9.66 billion, a PE ratio of 50.83 and a beta of 1.15. The firm has a fifty day simple moving average of $63.12 and a two-hundred day simple moving average of $62.93. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 1.99. Boston Properties has a 12 month low of $46.80 and a 12 month high of $73.97.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.05). The business had revenue of $828.90 million for the quarter, compared to the consensus estimate of $811.59 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 EPS. Analysts forecast that Boston Properties will post 7.12 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 6.37%. The ex-dividend date is Wednesday, March 27th. Boston Properties’s dividend payout ratio (DPR) is presently 323.97%.

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.