BXP (NYSE:BXP) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

BXP, Inc. (NYSE:BXP)’s share price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $62.86 and traded as high as $66.09. BXP shares last traded at $66.0060, with a volume of 1,943,258 shares.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of BXP from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Mizuho raised their target price on shares of BXP from $62.00 to $68.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. BMO Capital Markets reiterated an “outperform” rating and issued a $70.00 price target on shares of BXP in a research report on Sunday, October 11th. Piper Sandler boosted their price target on BXP from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. Finally, UBS Group boosted their price target on BXP from $61.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, August 25th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.56.

BXP Trading Up 5.4%

The firm’s fifty day simple moving average is $62.86 and its 200 day simple moving average is $62.09. The stock has a market capitalization of $10.54 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. The company has a debt-to-equity ratio of 2.17, a quick ratio of 3.91 and a current ratio of 4.93.

BXP (NYSE:BXP) last issued its earnings results on Tuesday, October 27th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.21. BXP had a return on equity of 6.89% and a net margin of 14.99%. The firm had revenue of $911.43 million for the quarter, compared to the consensus estimate of $892.51 million. During the same quarter last year, the business posted $1.74 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts forecast that BXP, Inc. will post 7.07 EPS for the current fiscal year.

BXP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, September 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.2%. BXP’s payout ratio is currently 83.83%.

Institutional Trading of BXP

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in BXP in the 2nd quarter valued at approximately $1,192,349,000. Bank of America Corp DE acquired a new stake in BXP during the 2nd quarter worth approximately $186,471,000. Dimensional Fund Advisors LP boosted its position in BXP by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,344,421 shares of the real estate investment trust’s stock worth $121,677,000 after buying an additional 51,843 shares during the period. Sei Investments Co. boosted its position in BXP by 1.8% during the 1st quarter. Sei Investments Co. now owns 2,000,667 shares of the real estate investment trust’s stock worth $103,835,000 after buying an additional 35,823 shares during the period. Finally, Legal & General Group Plc bought a new stake in BXP during the 2nd quarter worth approximately $83,987,000. 98.72% of the stock is currently owned by institutional investors.

BXP Company Profile

BXP, Inc (NYSE:BXP), formerly known as Boston Properties, Inc, is a self-administered and self-managed real estate investment trust that develops, owns, manages and operates primarily office properties in the United States. The company focuses on high-quality commercial real estate in major gateway markets.

BXP’s portfolio includes office buildings, mixed-use properties and life science facilities. Its activities span property acquisition, development, redevelopment, leasing and ongoing management.