Piper Sandler Lowers BXP (NYSE:BXP) Price Target to $80.00

BXP (NYSE:BXP) had its price objective cut by Piper Sandler from $85.00 to $80.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price objective would indicate a potential upside of 21.01% from the stock’s current price.

Several other equities analysts have also recently commented on the company. Scotiabank cut their price target on BXP from $83.00 to $81.00 and set a “sector perform” rating for the company in a report on Monday, July 14th. Wells Fargo & Company cut their price target on BXP from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Wall Street Zen raised BXP from a “sell” rating to a “hold” rating in a report on Saturday. Truist Financial cut their price target on BXP from $75.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. Finally, UBS Group cut their price target on BXP from $80.00 to $68.00 and set a “neutral” rating for the company in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $77.71.

BXP Price Performance

NYSE BXP opened at $66.11 on Monday. BXP has a twelve month low of $54.22 and a twelve month high of $90.11. The company has a debt-to-equity ratio of 2.06, a quick ratio of 4.23 and a current ratio of 3.76. The stock has a market capitalization of $10.47 billion, a PE ratio of 2,204.40, a P/E/G ratio of 5.37 and a beta of 1.17. The stock has a 50-day simple moving average of $69.74 and a 200 day simple moving average of $68.11.

BXP (NYSE:BXP) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. BXP had a return on equity of 3.89% and a net margin of 0.11%. The business had revenue of $868.46 million during the quarter, compared to analysts’ expectations of $845.09 million. During the same quarter in the previous year, the firm earned $1.77 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Research analysts anticipate that BXP will post 6.91 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Pacific Heights Asset Management LLC boosted its position in BXP by 66.7% in the 1st quarter. Pacific Heights Asset Management LLC now owns 100,000 shares of the real estate investment trust’s stock valued at $6,719,000 after buying an additional 40,000 shares during the last quarter. NewSquare Capital LLC boosted its position in BXP by 98.3% in the 1st quarter. NewSquare Capital LLC now owns 108,363 shares of the real estate investment trust’s stock valued at $7,281,000 after buying an additional 53,727 shares during the last quarter. Tredje AP fonden boosted its position in BXP by 801.4% in the 1st quarter. Tredje AP fonden now owns 107,921 shares of the real estate investment trust’s stock valued at $7,251,000 after buying an additional 95,948 shares during the last quarter. Deutsche Bank AG boosted its position in BXP by 30.6% in the 4th quarter. Deutsche Bank AG now owns 949,603 shares of the real estate investment trust’s stock valued at $70,612,000 after buying an additional 222,284 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new position in BXP in the 4th quarter valued at $32,000. 98.72% of the stock is currently owned by institutional investors.

BXP 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.