Boston Properties, Inc. (NYSE:BXP) Receives $74.08 Average Price Target from Analysts

Boston Properties, Inc. (NYSE:BXP) has been given an average rating of “Moderate Buy” by the twelve research firms that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $74.83.

A number of analysts have recently commented on BXP shares. Wells Fargo & Company upped their price target on Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Piper Sandler increased their target price on shares of Boston Properties from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Wedbush boosted their price target on shares of Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Truist Financial raised their price objective on Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Finally, Scotiabank boosted their target price on Boston Properties from $76.00 to $82.00 and gave the company a “sector outperform” rating in a research note on Wednesday, September 11th.

Insider Buying and Selling

In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total transaction of $351,410.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boston Properties

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Boston Properties by 212.1% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 386 shares during the last quarter. UMB Bank n.a. raised its stake in Boston Properties by 115.5% in the second quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 380 shares during the period. Abich Financial Wealth Management LLC lifted its position in shares of Boston Properties by 59.1% in the first quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 395 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Boston Properties by 198.1% during the 1st quarter. Sound Income Strategies LLC now owns 1,428 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 949 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Boston Properties by 61.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 547 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Boston Properties Trading Down 0.7 %

Shares of NYSE BXP opened at $80.26 on Friday. Boston Properties has a fifty-two week low of $50.64 and a fifty-two week high of $83.85. The firm has a market capitalization of $12.61 billion, a P/E ratio of 65.79, a P/E/G ratio of 0.38 and a beta of 1.18. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.83. The company’s 50 day simple moving average is $72.98 and its 200 day simple moving average is $65.76.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($1.21). The company had revenue of $850.48 million during the quarter, compared to the consensus estimate of $819.49 million. Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.86 earnings per share. On average, analysts predict that Boston Properties will post 7.11 EPS for the current year.

Boston Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Monday, September 30th. Boston Properties’s dividend payout ratio is presently 321.31%.

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.