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

Boston Properties, Inc. (NYSE:BXP) has earned an average recommendation of “Hold” from the thirteen research firms that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $74.08.

A number of brokerages have issued reports on BXP. Truist Financial boosted their price target on shares of Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Scotiabank increased their target price on shares of Boston Properties from $76.00 to $82.00 and gave the stock a “sector outperform” rating in a report on Wednesday, September 11th. Morgan Stanley restated an “equal weight” rating and issued a $62.00 price target on shares of Boston Properties in a research note on Thursday, June 20th. Evercore ISI increased their price objective on 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 upgraded Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 8th.

Insider Transactions at Boston Properties

In related news, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction on 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 document filed with the SEC, which can be accessed through this link. In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was 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 Securities & Exchange Commission, which is available at this link. Also, EVP Peter V. Otteni sold 4,785 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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. Insiders own 1.35% of the company’s stock.

Institutional Trading of Boston Properties

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. increased its stake 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 purchasing an additional 386 shares during the period. UMB Bank n.a. grew its holdings in shares of Boston Properties by 115.5% during the second quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 380 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in Boston Properties by 59.1% in the 1st 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 during the period. Northwestern Mutual Wealth Management Co. raised its stake in 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 valued at $89,000 after acquiring an additional 547 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in Boston Properties during the 2nd quarter worth approximately $91,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Boston Properties Stock Up 0.4 %

Boston Properties stock opened at $82.49 on Friday. The company has a market capitalization of $12.96 billion, a PE ratio of 67.61, a price-to-earnings-growth ratio of 0.35 and a beta of 1.18. 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 fifty-two week low of $50.64 and a fifty-two week high of $83.85. The firm has a 50 day moving average price of $72.74 and a 200 day moving average price of $65.65.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The firm 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 company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.86 earnings per share. Research analysts expect that Boston Properties will post 7.11 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a yield of 4.75%. Boston Properties’s payout ratio is currently 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.