BXP (NYSE:BXP) Given New $68.00 Price Target at Citigroup

BXP (NYSE:BXP) had its price objective decreased by Citigroup from $70.00 to $68.00 in a research note published on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the stock. KeyCorp raised shares of BXP from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a research note on Thursday, December 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of BXP in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $70.00 price objective on shares of BXP in a research note on Tuesday, January 6th. Royal Bank Of Canada upgraded shares of BXP to an “outperform” rating in a research report on Thursday, December 4th. Finally, Evercore ISI cut their price target on BXP from $76.00 to $73.00 and set an “in-line” rating for the company in a report on Thursday, January 29th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $77.30.

BXP Price Performance

BXP stock opened at $62.78 on Tuesday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 4.50 and a current ratio of 5.36. The stock’s 50 day moving average price is $68.22 and its 200 day moving average price is $70.19. The firm has a market cap of $9.95 billion, a P/E ratio of -49.44, a PEG ratio of 7.43 and a beta of 1.01. BXP has a 1 year low of $54.22 and a 1 year high of $79.33.

BXP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Wednesday, December 31st were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.80 annualized dividend and a yield of 4.5%. BXP’s dividend payout ratio is 160.92%.

Insider Activity at BXP

In other news, CFO Michael E. Labelle sold 13,422 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.34, for a total transaction of $970,947.48. Following the completion of the sale, the chief financial officer directly owned 9,223 shares of the company’s stock, valued at $667,191.82. The trade was a 59.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter V. Otteni sold 4,136 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $72.65, for a total value of $300,480.40. The SEC filing for this sale provides additional information. Insiders have sold 70,710 shares of company stock worth $5,107,771 in the last 90 days. Company insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On BXP

Hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Wealth LLC increased its position in BXP by 35.3% during the 4th quarter. NewEdge Wealth LLC now owns 6,608 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 1,723 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in BXP by 7.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 5,836 shares of the real estate investment trust’s stock worth $394,000 after buying an additional 399 shares during the period. Ethic Inc. increased its position in shares of BXP by 16.4% in the fourth quarter. Ethic Inc. now owns 26,137 shares of the real estate investment trust’s stock worth $1,764,000 after acquiring an additional 3,681 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of BXP by 23.3% in the 4th quarter. Ballentine Partners LLC now owns 10,991 shares of the real estate investment trust’s stock valued at $742,000 after acquiring an additional 2,076 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of BXP by 8.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,892 shares of the real estate investment trust’s stock valued at $263,000 after acquiring an additional 290 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

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.