Piper Sandler Has Lowered Expectations for BXP (NYSE:BXP) Stock Price

BXP (NYSE:BXP) had its price target cut by research analysts at Piper Sandler from $87.00 to $75.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price objective points to a potential upside of 46.71% from the company’s current price.

BXP has been the subject of a number of other research reports. Truist Financial cut their target price on shares of BXP from $74.00 to $70.00 and set a “hold” rating for the company in a research note on Monday, February 2nd. The Goldman Sachs Group set a $72.00 price target on shares of BXP in a report on Wednesday, February 4th. Cantor Fitzgerald restated an “overweight” rating and set a $79.00 price objective on shares of BXP in a research report on Thursday, January 29th. Evercore reduced their price objective on BXP from $76.00 to $73.00 and set an “in-line” rating for the company in a report on Thursday, January 29th. Finally, Mizuho downgraded BXP from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $79.00 to $62.00 in a research report on Tuesday, February 24th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $74.25.

BXP Stock Performance

BXP stock traded down $0.78 during mid-day trading on Wednesday, hitting $51.12. 1,101,662 shares of the company’s stock traded hands, compared to its average volume of 2,639,981. The company has a debt-to-equity ratio of 2.21, a current ratio of 5.36 and a quick ratio of 5.36. The firm has a 50 day simple moving average of $58.54 and a two-hundred day simple moving average of $66.71. BXP has a fifty-two week low of $49.72 and a fifty-two week high of $79.33. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 29.38, a P/E/G ratio of 2.21 and a beta of 1.01.

Insider Activity at BXP

In related news, CEO Owen D. Thomas sold 1,198 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $61.22, for a total transaction of $73,341.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Hilary J. Spann sold 5,495 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $59.69, for a total value of $327,996.55. Following the transaction, the executive vice president owned 17,832 shares in the company, valued at approximately $1,064,392.08. This trade represents a 23.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 7,887 shares of company stock valued at $476,930. 1.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allianz Asset Management GmbH raised its position 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 valued at $11,141,000 after purchasing an additional 54,803 shares in the last quarter. Barclays PLC raised its holdings in shares of BXP by 14.9% during the 3rd quarter. Barclays PLC now owns 1,261,556 shares of the real estate investment trust’s stock worth $93,784,000 after buying an additional 163,949 shares in the last quarter. Voya Investment Management LLC lifted its position 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 buying an additional 15,507 shares during the last quarter. Nan Fung Trinity HK Ltd. boosted its stake in BXP by 94.9% in the third quarter. Nan Fung Trinity HK Ltd. now owns 91,224 shares of the real estate investment trust’s stock valued at $6,782,000 after buying an additional 44,424 shares in the last quarter. Finally, Swedbank AB grew its position in BXP by 13.9% in the third quarter. Swedbank AB now owns 141,798 shares of the real estate investment trust’s stock valued at $10,541,000 after acquiring an additional 17,253 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

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.