BXP (NYSE:BXP) Price Target Lowered to $74.00 at Scotiabank

BXP (NYSE:BXP) had its target price trimmed by Scotiabank from $81.00 to $74.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a sector performer rating on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d+)” rating on shares of BXP in a research note on Monday, December 29th. KeyCorp upgraded BXP from a “sector weight” rating to an “overweight” rating and set a $80.00 target price on the stock in a research report on Thursday, December 4th. New Street Research set a $85.00 target price on BXP in a report on Monday, October 13th. Citigroup cut their price target on BXP from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, January 7th. Finally, UBS Group decreased their price objective on shares of BXP from $74.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $77.95.

BXP Price Performance

Shares of NYSE BXP opened at $66.27 on Wednesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 4.50 and a current ratio of 4.50. BXP has a one year low of $54.22 and a one year high of $79.33. The firm has a market capitalization of $10.50 billion, a P/E ratio of -52.18, a PEG ratio of 7.77 and a beta of 1.01. The company’s fifty day moving average is $69.70 and its two-hundred day moving average is $70.55.

BXP (NYSE:BXP) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.02. The business had revenue of $871.51 million during the quarter, compared to the consensus estimate of $860.88 million. BXP had a negative net margin of 5.82% and a positive return on equity of 1.35%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 EPS. BXP has set its FY 2025 guidance at 6.890-6.920 EPS. Analysts forecast that BXP will post 6.91 EPS for the current fiscal year.

BXP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.2%. BXP’s dividend payout ratio (DPR) is presently -220.47%.

Insider Buying and Selling

In other news, EVP Raymond A. Ritchey sold 36,314 shares of BXP stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $72.18, for a total transaction of $2,621,144.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John J. Stroman sold 16,838 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $72.17, for a total transaction of $1,215,198.46. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 70,710 shares of company stock worth $5,107,771. 1.49% of the stock is owned by company insiders.

Institutional Trading of BXP

Several hedge funds and other institutional investors have recently bought and sold shares of BXP. Norges Bank acquired a new position in BXP in the 2nd quarter valued at $686,886,000. Invesco Ltd. grew its position in shares of BXP by 44.9% in the third quarter. Invesco Ltd. now owns 3,896,978 shares of the real estate investment trust’s stock valued at $289,701,000 after purchasing an additional 1,207,607 shares during the period. Vanguard Group Inc. increased its stake in BXP by 4.3% in the second quarter. Vanguard Group Inc. now owns 24,470,390 shares of the real estate investment trust’s stock valued at $1,651,017,000 after purchasing an additional 1,016,579 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in BXP by 76.8% during the third quarter. Daiwa Securities Group Inc. now owns 2,012,057 shares of the real estate investment trust’s stock worth $149,576,000 after buying an additional 873,974 shares during the period. Finally, Franklin Resources Inc. boosted its stake in BXP by 354.0% in the 2nd quarter. Franklin Resources Inc. now owns 870,178 shares of the real estate investment trust’s stock worth $58,711,000 after buying an additional 678,529 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

BXP Company Profile

Boston Properties, Inc (NYSE: BXP) is a publicly traded real estate investment trust (REIT) specializing in the ownership, management, and development of Class A office properties across major U.S. markets. Headquartered in Boston, Massachusetts, the company’s portfolio comprises high-quality office buildings, mixed-use developments and select retail assets designed to serve leading corporations in key metropolitan areas.

Established in 1970 by Mortimer B. Zuckerman, Boston Properties has grown through disciplined acquisitions and strategic ground-up developments.