BXP (NYSE:BXP) Given New $75.00 Price Target at Piper Sandler

BXP (NYSE:BXP) had its price objective lowered by Piper Sandler from $87.00 to $75.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the company. Royal Bank Of Canada upgraded BXP to an “outperform” rating in a report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $70.00 price target on shares of BXP in a report on Tuesday, January 6th. KeyCorp upgraded shares of BXP from a “sector weight” rating to an “overweight” rating and set a $80.00 price target on the stock in a research report on Thursday, December 4th. Truist Financial reduced their price objective on shares of BXP from $74.00 to $70.00 and set a “hold” rating on the stock in a research note on Monday, February 2nd. Finally, Weiss Ratings upgraded shares of BXP from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, March 2nd. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $74.10.

BXP Stock Down 1.7%

Shares of BXP opened at $51.04 on Wednesday. The stock’s 50-day moving average price is $58.25 and its two-hundred day moving average price is $66.60. BXP has a 12 month low of $49.72 and a 12 month high of $79.33. The company has a market capitalization of $8.10 billion, a PE ratio of 29.33, a PEG ratio of 2.21 and a beta of 1.02. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 2.21.

BXP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.80 annualized dividend and a yield of 5.5%. BXP’s payout ratio is 160.92%.

Insider Buying and Selling

In related news, CEO Owen D. Thomas sold 1,198 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $61.22, for a total transaction of $73,341.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Hilary J. Spann sold 5,495 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $59.69, for a total transaction of $327,996.55. Following the transaction, the executive vice president directly owned 17,832 shares in the company, valued at approximately $1,064,392.08. This represents a 23.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,887 shares of company stock worth $476,930 over the last 90 days. Company insiders own 1.49% of the company’s stock.

Hedge Funds Weigh In On BXP

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System raised its stake in BXP by 0.9% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 134,690 shares of the real estate investment trust’s stock worth $9,088,000 after buying an additional 1,190 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of BXP during the second quarter valued at approximately $25,000. New York State Common Retirement Fund increased its holdings in shares of BXP by 31.9% during the second quarter. New York State Common Retirement Fund now owns 160,783 shares of the real estate investment trust’s stock valued at $10,848,000 after acquiring an additional 38,899 shares in the last quarter. Lido Advisors LLC acquired a new position in shares of BXP during the second quarter worth approximately $220,000. Finally, M&T Bank Corp raised its position in shares of BXP by 2.7% during the second quarter. M&T Bank Corp now owns 31,942 shares of the real estate investment trust’s stock worth $2,156,000 after purchasing an additional 832 shares during the period. Institutional investors own 98.72% of the company’s stock.

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.