Boston Properties (NYSE:BXP) Raised to “Overweight” at Piper Sandler

Boston Properties (NYSE:BXP) was upgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage currently has a $105.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $78.00. Piper Sandler’s target price would suggest a potential upside of 19.88% from the company’s previous close.

BXP has been the subject of a number of other reports. Wells Fargo & Company upped their price objective on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Wedbush upped their price target on shares of Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Evercore ISI lifted their price objective on shares of Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Truist Financial upped their target price on shares of Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Finally, Scotiabank lifted their price target on Boston Properties from $76.00 to $82.00 and gave the company a “sector outperform” rating in a report on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Boston Properties has an average rating of “Moderate Buy” and a consensus price target of $77.91.

Boston Properties Trading Up 0.7 %

NYSE BXP opened at $87.59 on Wednesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83. Boston Properties has a one year low of $50.64 and a one year high of $90.11. The company has a 50-day simple moving average of $78.89 and a 200-day simple moving average of $68.57. The firm has a market capitalization of $13.76 billion, a PE ratio of 71.80, a price-to-earnings-growth ratio of 0.56 and a beta of 1.18.

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

Insider Buying and Selling

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

Institutional Trading of Boston Properties

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC boosted its holdings in Boston Properties by 0.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,479 shares of the real estate investment trust’s stock worth $1,261,000 after buying an additional 150 shares in the last quarter. Mystic Asset Management Inc. grew its holdings in shares of Boston Properties by 3.1% in the 2nd quarter. Mystic Asset Management Inc. now owns 5,541 shares of the real estate investment trust’s stock worth $341,000 after acquiring an additional 165 shares during the last quarter. Signaturefd LLC raised its position in shares of Boston Properties by 2.6% during the second quarter. Signaturefd LLC now owns 6,597 shares of the real estate investment trust’s stock worth $406,000 after purchasing an additional 168 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Boston Properties by 0.3% during the second quarter. Daiwa Securities Group Inc. now owns 63,629 shares of the real estate investment trust’s stock worth $3,917,000 after purchasing an additional 175 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its holdings in shares of Boston Properties by 2.8% during the first quarter. First Trust Direct Indexing L.P. now owns 6,620 shares of the real estate investment trust’s stock valued at $432,000 after purchasing an additional 182 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

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.