Scotiabank Reiterates Sector Perform Rating for Boston Properties (NYSE:BXP)

Scotiabank restated their sector perform rating on shares of Boston Properties (NYSE:BXP) in a research report released on Thursday, Marketbeat reports. The brokerage currently has a $85.00 target price on the real estate investment trust’s stock.

A number of other analysts have also commented on BXP. Wedbush increased their price objective on Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. UBS Group raised their price target on shares of Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Piper Sandler upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $78.00 to $105.00 in a report on Wednesday, October 23rd. Evercore ISI upped their price objective on shares of Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Finally, StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Boston Properties presently has an average rating of “Hold” and an average target price of $80.23.

Boston Properties Stock Performance

Shares of BXP opened at $82.90 on Thursday. The company has a quick ratio of 4.83, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. Boston Properties has a 52-week low of $50.64 and a 52-week high of $90.11. The company has a 50-day simple moving average of $81.51 and a 200-day simple moving average of $70.40. The company has a market capitalization of $13.11 billion, a PE ratio of 35.89, a P/E/G ratio of 0.55 and a beta of 1.18.

Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.28). Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The firm had revenue of $859.23 million during the quarter, compared to analyst estimates of $829.91 million. During the same period last year, the company posted $1.86 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts predict that Boston Properties will post 7.1 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.98 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.92 annualized dividend and a yield of 4.73%. Boston Properties’s payout ratio is 169.70%.

Insider Activity at Boston Properties

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter V. Otteni sold 4,785 shares of the firm’s stock in a transaction that occurred on 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 currently owned by insiders.

Institutional Trading of Boston Properties

Several large investors have recently bought and sold shares of BXP. Point72 Asia Singapore Pte. Ltd. grew its position in Boston Properties by 212.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 386 shares in the last quarter. UMB Bank n.a. grew its position 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 acquiring an additional 380 shares in the last quarter. Abich Financial Wealth Management LLC grew its position in 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 acquiring an additional 395 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Boston Properties by 61.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 547 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Boston Properties during the second quarter worth approximately $91,000. 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.