Boston Properties (NYSE:BXP) Given New $69.00 Price Target at Evercore ISI

Boston Properties (NYSE:BXP) had its price objective reduced by research analysts at Evercore ISI from $73.00 to $69.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s price target points to a potential upside of 12.09% from the company’s previous close.

A number of other research firms have also commented on BXP. StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research note on Friday. Barclays lowered their price target on Boston Properties from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 27th. Wedbush cut their price objective on Boston Properties from $66.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday. 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 note on Tuesday, March 5th. Finally, BMO Capital Markets dropped their price target on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Boston Properties has an average rating of “Hold” and a consensus price target of $69.53.

Boston Properties Stock Performance

BXP stock traded up $0.78 during trading on Monday, reaching $61.56. 333,042 shares of the company’s stock were exchanged, compared to its average volume of 1,411,772. Boston Properties has a 1-year low of $46.80 and a 1-year high of $73.97. The firm has a market cap of $9.67 billion, a PE ratio of 50.32 and a beta of 1.15. The company’s fifty day moving average price is $62.62 and its 200-day moving average price is $63.12. The company has a quick ratio of 5.40, a current ratio of 4.77 and a debt-to-equity ratio of 1.91.

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 for the quarter, missing the consensus estimate of $1.73 by ($1.22). The company had revenue of $839.44 million during the quarter, compared to analyst estimates of $808.68 million. Boston Properties had a return on equity of 2.35% and a net margin of 5.81%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.73 EPS. On average, research analysts expect that Boston Properties will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total transaction of $889,186.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Properties

Several large investors have recently made changes to their positions in BXP. Vanguard Group Inc. boosted its holdings in Boston Properties by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 23,446,379 shares of the real estate investment trust’s stock valued at $1,645,232,000 after purchasing an additional 62,539 shares during the period. Norges Bank bought a new stake in shares of Boston Properties in the fourth quarter valued at about $890,848,000. Allspring Global Investments Holdings LLC grew its position in Boston Properties by 3.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,502,079 shares of the real estate investment trust’s stock worth $294,031,000 after buying an additional 166,105 shares in the last quarter. Senvest Management LLC increased its stake in Boston Properties by 6.3% during the third quarter. Senvest Management LLC now owns 3,035,887 shares of the real estate investment trust’s stock valued at $180,575,000 after acquiring an additional 179,547 shares during the period. Finally, Northern Trust Corp raised its holdings in Boston Properties by 9.6% in the 3rd quarter. Northern Trust Corp now owns 2,780,809 shares of the real estate investment trust’s stock valued at $165,403,000 after acquiring an additional 243,246 shares in the last quarter. 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.