Boston Properties (NYSE:BXP) Price Target Lowered to $79.00 at Barclays

Boston Properties (NYSE:BXP) had its price target cut by Barclays from $89.00 to $79.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Several other analysts also recently commented on BXP. Wells Fargo & Company decreased their target price on shares of Boston Properties from $88.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Mizuho reduced their price objective on shares of Boston Properties from $92.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Truist Financial boosted their price objective on shares of Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Piper Sandler reduced their price objective on shares of Boston Properties from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, Scotiabank reduced their price objective on shares of Boston Properties from $85.00 to $83.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Boston Properties has a consensus rating of “Hold” and an average price target of $81.31.

Boston Properties Stock Performance

BXP stock opened at $65.55 on Friday. The company has a quick ratio of 5.51, a current ratio of 5.69 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 655.57, a P/E/G ratio of 0.91 and a beta of 1.19. Boston Properties has a 12 month low of $56.46 and a 12 month high of $90.11. The firm has a 50 day moving average of $70.43 and a two-hundred day moving average of $76.69.

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

Boston Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 5.98%. The ex-dividend date of this dividend was Tuesday, December 31st. Boston Properties’s dividend payout ratio (DPR) is presently 3,920.00%.

Insider Buying and Selling at Boston Properties

In other news, EVP Donna D. Garesche sold 2,143 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $67.87, for a total value of $145,445.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Hilary J. Spann sold 12,379 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 7,271 shares in the company, valued at approximately $523,657.42. The trade was a 63.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Institutional Investors Weigh In On Boston Properties

Several large investors have recently made changes to their positions in the company. Deutsche Bank AG grew its holdings in shares of Boston Properties by 30.6% in the 4th quarter. Deutsche Bank AG now owns 949,603 shares of the real estate investment trust’s stock worth $70,612,000 after purchasing an additional 222,284 shares during the last quarter. Whittier Trust Co. grew its holdings in Boston Properties by 3.5% during the 4th quarter. Whittier Trust Co. now owns 306,783 shares of the real estate investment trust’s stock worth $22,812,000 after acquiring an additional 10,429 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC grew its holdings in Boston Properties by 12.5% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 170,504 shares of the real estate investment trust’s stock worth $12,679,000 after acquiring an additional 18,900 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in Boston Properties by 198.9% during the 4th quarter. Wealthfront Advisers LLC now owns 149,156 shares of the real estate investment trust’s stock worth $11,091,000 after acquiring an additional 99,248 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Boston Properties by 7.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 144,123 shares of the real estate investment trust’s stock worth $10,717,000 after acquiring an additional 10,252 shares during the last quarter. Institutional investors 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.