Boston Properties (NYSE:BXP) Stock Price Expected to Rise, Barclays Analyst Says

Boston Properties (NYSE:BXP) had its price objective hoisted by investment analysts at Barclays from $88.00 to $89.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s target price would indicate a potential upside of 13.33% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Wedbush raised 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 target on shares of Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Wells Fargo & Company raised their price objective on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Piper Sandler raised shares of Boston Properties from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $78.00 to $105.00 in a report on Wednesday, October 23rd. Finally, Scotiabank reissued a “sector perform” rating and set a $85.00 price objective on shares of Boston Properties in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Boston Properties currently has a consensus rating of “Hold” and a consensus price target of $80.92.

Boston Properties Price Performance

BXP opened at $78.53 on Monday. The company has a fifty day simple moving average of $82.02 and a 200 day simple moving average of $71.14. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 0.54 and a beta of 1.18. Boston Properties has a twelve month low of $52.61 and a twelve month high of $90.11. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 2.01.

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

Insider Activity at Boston Properties

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

Institutional Trading of Boston Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in BXP. Earnest Partners LLC raised its position in shares of Boston Properties by 25.9% during the 2nd quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock worth $162,348,000 after buying an additional 542,610 shares in the last quarter. Sei Investments Co. raised its position in shares of Boston Properties by 32.9% during the 2nd quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock worth $92,567,000 after buying an additional 371,946 shares in the last quarter. Swedbank AB bought a new stake in shares of Boston Properties during the 1st quarter worth about $16,729,000. Point72 Asset Management L.P. acquired a new position in shares of Boston Properties in the 2nd quarter worth approximately $12,914,000. Finally, AMF Tjanstepension AB acquired a new position in shares of Boston Properties in the 2nd quarter worth approximately $8,941,000. 98.72% of the stock is currently owned by institutional investors.

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.