Barclays Cuts Boston Properties (NYSE:BXP) Price Target to $66.00

Boston Properties (NYSE:BXPFree Report) had its target price decreased by Barclays from $67.00 to $66.00 in a report released on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the stock. Piper Sandler raised their price objective on shares of Boston Properties from $60.00 to $77.00 and gave the stock a neutral rating in a research note on Wednesday, December 20th. Jefferies Financial Group raised shares of Boston Properties from a hold rating to a buy rating and lifted their target price for the company from $57.00 to $80.00 in a research note on Tuesday, January 2nd. StockNews.com raised shares of Boston Properties from a sell rating to a hold rating in a research note on Thursday, February 1st. Truist Financial decreased their target price on shares of Boston Properties from $77.00 to $75.00 and set a hold rating for the company in a research note on Tuesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Boston Properties in a research note on Tuesday, January 30th. They set a hold rating and a $74.00 target price for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $69.56.

Get Our Latest Research Report on BXP

Boston Properties Trading Up 3.4 %

Boston Properties stock opened at $63.17 on Wednesday. The company has a 50 day moving average price of $65.43 and a 200 day moving average price of $62.69. Boston Properties has a 52 week low of $46.80 and a 52 week high of $73.97. The company has a debt-to-equity ratio of 1.99, a quick ratio of 5.40 and a current ratio of 5.40. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of 52.19 and a beta of 1.15.

Boston Properties (NYSE:BXPGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.05). Boston Properties had a return on equity of 2.32% and a net margin of 5.81%. The firm had revenue of $828.90 million during the quarter, compared to analyst estimates of $811.59 million. During the same period in the prior year, the business posted $1.86 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts forecast that Boston Properties will post 7.12 EPS for the current year.

Boston Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.21%. Boston Properties’s dividend payout ratio is currently 323.97%.

Insider Activity

In related news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total value of $889,186.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BXP. McGlone Suttner Wealth Management Inc. bought a new position in Boston Properties in the 4th quarter worth $29,000. Manchester Capital Management LLC raised its holdings in Boston Properties by 435.9% in the 4th quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 340 shares during the period. Quarry LP bought a new position in Boston Properties in the 4th quarter worth $29,000. Eagle Bay Advisors LLC bought a new position in Boston Properties in the 2nd quarter worth $31,000. Finally, Sound Income Strategies LLC raised its holdings in Boston Properties by 770.9% in the 4th quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 424 shares during the period. Institutional investors own 98.72% of the company’s stock.

About Boston Properties

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Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.

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