Analysts Set BXP, Inc. (NYSE:BXP) Price Target at $77.75

BXP, Inc. (NYSE:BXP) has received an average recommendation of “Hold” from the twenty-one research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $77.05.

A number of analysts have recently commented on the stock. New Street Research set a $85.00 target price on shares of BXP in a research note on Monday, October 13th. Wells Fargo & Company cut their price objective on BXP from $77.00 to $74.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. Jefferies Financial Group increased their target price on BXP from $79.00 to $84.00 and gave the company a “buy” rating in a report on Monday, October 13th. The Goldman Sachs Group set a $72.00 price target on BXP in a research note on Wednesday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of BXP in a research report on Monday, December 29th.

BXP Price Performance

BXP stock opened at $63.71 on Monday. The stock has a market capitalization of $10.10 billion, a P/E ratio of -50.17, a P/E/G ratio of 2.66 and a beta of 1.01. The company’s fifty day moving average price is $68.04 and its 200 day moving average price is $70.15. The company has a debt-to-equity ratio of 2.21, a quick ratio of 4.50 and a current ratio of 5.36. BXP has a 1 year low of $54.22 and a 1 year high of $79.33.

BXP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Wednesday, December 31st were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Wednesday, December 31st. BXP’s dividend payout ratio is -220.47%.

Insider Buying and Selling at BXP

In related news, EVP Raymond A. Ritchey sold 36,314 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $72.18, for a total transaction of $2,621,144.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter V. Otteni sold 4,136 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $72.65, for a total transaction of $300,480.40. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 70,710 shares of company stock valued at $5,107,771. Insiders own 1.49% of the company’s stock.

Institutional Trading of BXP

A number of hedge funds and other institutional investors have recently modified their holdings of BXP. Vanguard Group Inc. increased its holdings in shares of BXP by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 24,470,390 shares of the real estate investment trust’s stock worth $1,651,017,000 after buying an additional 1,016,579 shares during the last quarter. State Street Corp lifted its stake in shares of 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 purchasing an additional 186,269 shares during the last quarter. Norges Bank purchased a new position in shares of BXP during the 2nd quarter worth $686,886,000. APG Asset Management US Inc. grew its holdings in shares of BXP by 3.2% during 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 purchasing an additional 232,591 shares during the period. Finally, Geode Capital Management LLC increased its position 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 during the last quarter. 98.72% of the stock is 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.