Boston Properties (NYSE:BXP) Given New $82.00 Price Target at Scotiabank

Boston Properties (NYSE:BXP) had its target price raised by stock analysts at Scotiabank from $76.00 to $82.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 10.24% from the stock’s previous close.

BXP has been the topic of a number of other reports. Truist Financial lifted 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. Piper Sandler lifted their target price on shares of Boston Properties from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price target on shares of Boston Properties in a research report on Thursday, June 20th. Wells Fargo & Company lifted their price objective on Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Barclays decreased their price target on Boston Properties from $66.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Boston Properties presently has an average rating of “Hold” and a consensus price target of $73.54.

Boston Properties Stock Down 0.2 %

BXP stock traded down $0.13 during mid-day trading on Wednesday, hitting $74.38. The stock had a trading volume of 284,614 shares, compared to its average volume of 1,285,874. The stock has a market capitalization of $11.68 billion, a price-to-earnings ratio of 61.09, a PEG ratio of 0.35 and a beta of 1.18. The company has a fifty day moving average of $69.37 and a 200 day moving average of $64.51. Boston Properties has a 1-year low of $50.64 and a 1-year high of $75.73. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 1.90.

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

Insider Activity

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the company’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 transaction of $1,621,248.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the company’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 value of $351,410.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties 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 disclosure for this sale can be found here. 1.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Properties

Large investors have recently made changes to their positions in the company. Manchester Capital Management LLC raised its position in shares of Boston Properties by 435.9% in the fourth quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 340 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Boston Properties by 212.1% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 386 shares during the last quarter. UMB Bank n.a. increased its position in Boston Properties by 115.5% in the 2nd 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 during the period. Abich Financial Wealth Management LLC increased its holdings 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 purchasing an additional 395 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 buying an additional 547 shares during the period. Institutional investors 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.