Boston Properties (NYSE:BXP) Price Target Raised to $80.00

Boston Properties (NYSE:BXP) had its target price lifted by Compass Point from $75.00 to $80.00 in a report released on Thursday morning, Benzinga reports. Compass Point currently has a neutral rating on the real estate investment trust’s stock.

BXP has been the subject of a number of other research reports. Barclays lifted their target price on shares of Boston Properties from $65.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Evercore ISI upped their target price on shares of Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Wells Fargo & Company increased their price objective on shares of Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Scotiabank lifted their target price on Boston Properties from $82.00 to $91.00 and gave the stock a “sector outperform” rating in a report on Friday, October 25th. Finally, Wedbush increased their price objective on shares of Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $80.75.

Boston Properties Trading Down 1.7 %

BXP opened at $79.16 on Thursday. The company has a quick ratio of 4.83, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. The stock has a market cap of $12.43 billion, a PE ratio of 34.27, a PEG ratio of 0.55 and a beta of 1.18. The business has a 50 day moving average of $80.79 and a 200-day moving average of $69.79. Boston Properties has a 52 week low of $50.64 and a 52 week high of $90.11.

Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). The company had revenue of $859.23 million for the quarter, compared to analysts’ expectations of $829.91 million. Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.86 EPS. Equities research analysts predict that Boston Properties will post 7.1 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend was Monday, September 30th. Boston Properties’s payout ratio is 169.70%.

Insider Buying and Selling at Boston Properties

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new stake in shares of Boston Properties in the first quarter valued at about $1,187,000. SG Americas Securities LLC boosted its stake in shares of Boston Properties by 76.8% in the 2nd quarter. SG Americas Securities LLC now owns 110,242 shares of the real estate investment trust’s stock valued at $6,786,000 after buying an additional 47,882 shares during the period. M&G Plc acquired a new position in Boston Properties during the 1st quarter worth approximately $3,807,000. Caxton Associates LP purchased a new position in Boston Properties in the first quarter valued at $1,423,000. Finally, DNB Asset Management AS raised its position in shares of Boston Properties by 47.3% during the 2nd quarter. DNB Asset Management AS now owns 34,755 shares of the real estate investment trust’s stock worth $2,140,000 after acquiring an additional 11,163 shares in the last quarter. Hedge funds and other institutional investors 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.