Barclays Issues Pessimistic Forecast for BXP (NYSE:BXP) Stock Price

BXP (NYSE:BXP) had its target price dropped by investment analysts at Barclays from $81.00 to $66.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price indicates a potential upside of 14.41% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Evercore cut their price target on shares of BXP from $76.00 to $73.00 and set an “in-line” rating on the stock in a research report on Thursday, January 29th. KeyCorp raised shares of BXP from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a research note on Thursday, December 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of BXP in a research report on Monday, December 29th. Wells Fargo & Company decreased their price target on shares of BXP from $77.00 to $74.00 and set an “overweight” rating for the company in a report on Tuesday, November 25th. Finally, Truist Financial dropped their price objective on BXP from $74.00 to $70.00 and set a “hold” rating on the stock in a research note on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.45.

BXP Trading Down 5.7%

NYSE BXP opened at $57.69 on Thursday. BXP has a 12 month low of $54.22 and a 12 month high of $79.33. The stock has a 50-day simple moving average of $64.97 and a 200 day simple moving average of $69.43. The company has a current ratio of 5.36, a quick ratio of 4.50 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $9.14 billion, a PE ratio of 33.15, a P/E/G ratio of 2.60 and a beta of 1.01.

Insider Activity

In other news, EVP Raymond A. Ritchey sold 36,314 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $72.18, for a total transaction of $2,621,144.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Owen D. Thomas sold 1,198 shares of BXP stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $61.22, for a total value of $73,341.56. The SEC filing for this sale provides additional information. Insiders have sold a total of 38,706 shares of company stock worth $2,770,078 over the last three months. Corporate insiders own 1.49% of the company’s stock.

Institutional Trading of BXP

A number of institutional investors have recently made changes to their positions in the business. Allianz Asset Management GmbH raised its holdings in BXP by 57.7% during the third quarter. Allianz Asset Management GmbH now owns 149,860 shares of the real estate investment trust’s stock worth $11,141,000 after acquiring an additional 54,803 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of BXP by 1.0% during the 3rd quarter. Voya Investment Management LLC now owns 1,492,925 shares of the real estate investment trust’s stock worth $110,835,000 after purchasing an additional 15,507 shares in the last quarter. Swedbank AB boosted its holdings in shares of BXP by 13.9% in the 3rd quarter. Swedbank AB now owns 141,798 shares of the real estate investment trust’s stock valued at $10,541,000 after buying an additional 17,253 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of BXP in the second quarter valued at $306,000. Finally, Nan Fung Trinity HK Ltd. increased its holdings in BXP by 94.9% during the third quarter. Nan Fung Trinity HK Ltd. now owns 91,224 shares of the real estate investment trust’s stock worth $6,782,000 after buying an additional 44,424 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

BXP Company Profile

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.