Evercore ISI Trims Boston Properties (NYSE:BXP) Target Price to $69.00

Boston Properties (NYSE:BXP) had its price target cut by investment analysts at Evercore ISI from $73.00 to $69.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s price objective would suggest a potential upside of 13.37% from the stock’s current price.

BXP has been the topic of a number of other research reports. 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 on the stock. Truist Financial cut their price target on Boston Properties from $77.00 to $75.00 and set a “hold” rating on the stock in a research note on Tuesday, March 5th. StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Wedbush decreased their price target on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, Barclays cut their price target on shares of Boston Properties from $67.00 to $66.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Boston Properties presently has a consensus rating of “Hold” and a consensus target price of $69.53.

Boston Properties Trading Down 1.2 %

Shares of BXP stock opened at $60.86 on Monday. Boston Properties has a fifty-two week low of $46.80 and a fifty-two week high of $73.97. The stock’s fifty day moving average price is $62.49 and its two-hundred day moving average price is $63.22. The company has a debt-to-equity ratio of 1.91, a quick ratio of 5.40 and a current ratio of 4.77. The company has a market cap of $9.56 billion, a PE ratio of 49.89 and a beta of 1.15.

Boston Properties (NYSE:BXP) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.22). The business had revenue of $839.44 million during the quarter, compared to the consensus estimate of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 EPS. Equities analysts predict that Boston Properties will post 7.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total transaction of $889,186.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On Boston Properties

Hedge funds have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC boosted its position in shares of Boston Properties by 435.9% during the fourth quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 340 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in shares of Boston Properties during the fourth quarter valued at about $29,000. Turtle Creek Wealth Advisors LLC purchased a new position in Boston Properties during the fourth quarter worth about $34,000. Sound Income Strategies LLC grew its position 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 purchasing an additional 424 shares in the last quarter. Finally, Cambridge Trust Co. increased its stake in Boston Properties by 80.1% in the 4th quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Boston Properties Company Profile

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.