Piper Sandler Lowers Boston Properties (NYSE:BXP) Price Target to $100.00

Boston Properties (NYSE:BXP) had its price objective decreased by stock analysts at Piper Sandler from $105.00 to $100.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price points to a potential upside of 44.88% from the stock’s current price.

BXP has been the topic of several other research reports. Scotiabank reissued a “sector perform” rating and set a $85.00 target price on shares of Boston Properties in a research report on Thursday, November 7th. Compass Point upgraded shares of Boston Properties from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $88.00 in a research report on Thursday, November 14th. Truist Financial lifted their price objective on Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Barclays increased their price target on shares of Boston Properties from $88.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Boston Properties currently has an average rating of “Hold” and an average price target of $81.64.

Boston Properties Stock Performance

Shares of BXP stock opened at $69.02 on Thursday. Boston Properties has a 12 month low of $56.46 and a 12 month high of $90.11. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. The company’s fifty day simple moving average is $76.27 and its 200-day simple moving average is $76.70. The firm has a market cap of $10.91 billion, a PE ratio of 29.88, a P/E/G ratio of 0.50 and a beta of 1.18.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $1.28. Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. Equities research analysts expect that Boston Properties will post 7.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Boston Properties

A number of hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. grew its position in Boston Properties by 4.2% in 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 acquiring an additional 12,018 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Boston Properties by 2.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 133,871 shares of the real estate investment trust’s stock worth $10,771,000 after purchasing an additional 3,502 shares during the last quarter. Sun Life Financial Inc. acquired a new position in Boston Properties during the 3rd quarter valued at about $9,674,000. Raymond James & Associates grew its stake in shares of Boston Properties by 11.9% in the third quarter. Raymond James & Associates now owns 110,587 shares of the real estate investment trust’s stock worth $8,898,000 after purchasing an additional 11,752 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Boston Properties by 1.7% during the fourth quarter. Van ECK Associates Corp now owns 70,444 shares of the real estate investment trust’s stock valued at $5,238,000 after acquiring an additional 1,169 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

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.