JPMorgan Chase & Co. Cuts BXP (NYSE:BXP) Price Target to $82.00

BXP (NYSE:BXP) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $83.00 to $82.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 22.72% from the company’s current price.

BXP has been the subject of several other reports. Mizuho reduced their price objective on BXP from $82.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $70.00 price target on shares of BXP in a research report on Tuesday, January 6th. Cantor Fitzgerald set a $79.00 price objective on shares of BXP in a research note on Monday, January 5th. Wells Fargo & Company cut their target price on shares of BXP from $77.00 to $74.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. Finally, Evercore ISI lowered their price target on shares of BXP from $77.00 to $76.00 and set an “in-line” rating on the stock in a report on Friday, November 14th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $78.30.

BXP Trading Down 0.1%

Shares of BXP stock traded down $0.09 during trading hours on Tuesday, reaching $66.82. 154,276 shares of the stock traded hands, compared to its average volume of 1,444,259. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $10.59 billion, a PE ratio of -52.63, a PEG ratio of 7.97 and a beta of 1.01. BXP has a 1-year low of $54.22 and a 1-year high of $79.33. The business has a fifty day moving average price of $69.84 and a 200 day moving average price of $70.60.

BXP (NYSE:BXP) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.02. The firm had revenue of $871.51 million for the quarter, compared to analysts’ expectations of $860.88 million. BXP had a negative net margin of 5.82% and a positive return on equity of 1.35%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 EPS. BXP has set its FY 2025 guidance at 6.890-6.920 EPS. On average, equities research analysts forecast that BXP will post 6.91 EPS for the current year.

Insider Buying and Selling at BXP

In other news, EVP John J. Stroman sold 16,838 shares of BXP stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $72.17, for a total value of $1,215,198.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Peter V. Otteni sold 4,136 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $72.65, for a total transaction of $300,480.40. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 70,710 shares of company stock valued at $5,107,771. Corporate insiders own 1.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of BXP by 4.3% in the second quarter. Vanguard Group Inc. now owns 24,470,390 shares of the real estate investment trust’s stock valued at $1,651,017,000 after buying an additional 1,016,579 shares during the period. State Street Corp raised its holdings in BXP by 1.7% in the 2nd quarter. State Street Corp now owns 11,433,768 shares of the real estate investment trust’s stock valued at $782,337,000 after acquiring an additional 186,269 shares in the last quarter. Norges Bank bought a new stake in shares of BXP in the 2nd quarter worth approximately $686,886,000. APG Asset Management US Inc. lifted its position in shares of BXP by 3.2% in the 3rd quarter. APG Asset Management US Inc. now owns 7,401,513 shares of the real estate investment trust’s stock worth $564,883,000 after acquiring an additional 232,591 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of BXP by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 4,153,844 shares of the real estate investment trust’s stock worth $279,186,000 after purchasing an additional 68,481 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

About BXP

Boston Properties, Inc (NYSE: BXP) is a publicly traded real estate investment trust (REIT) specializing in the ownership, management, and development of Class A office properties across major U.S. markets. Headquartered in Boston, Massachusetts, the company’s portfolio comprises high-quality office buildings, mixed-use developments and select retail assets designed to serve leading corporations in key metropolitan areas.

Established in 1970 by Mortimer B. Zuckerman, Boston Properties has grown through disciplined acquisitions and strategic ground-up developments.