BXP (NYSE:BXP) Price Target Cut to $70.00 by Analysts at Truist Financial

BXP (NYSE:BXP) had its price target decreased by Truist Financial from $74.00 to $70.00 in a research note released on Monday morning, Marketbeat Ratings reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

BXP has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $70.00 price objective on shares of BXP in a research report on Tuesday, January 6th. UBS Group decreased their price target on shares of BXP from $74.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Royal Bank Of Canada raised shares of BXP to an “outperform” rating in a report on Thursday, December 4th. Wells Fargo & Company reduced their price objective on shares of BXP from $77.00 to $74.00 and set an “overweight” rating for the company in a report on Tuesday, November 25th. Finally, Barclays lowered their target price on shares of BXP from $82.00 to $81.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $77.40.

BXP Stock Down 2.5%

NYSE BXP opened at $63.08 on Monday. BXP has a twelve month low of $54.22 and a twelve month high of $79.33. The stock has a market cap of $10.00 billion, a PE ratio of -49.67, a PEG ratio of 7.65 and a beta of 1.01. The firm has a 50-day simple moving average of $68.42 and a 200 day simple moving average of $70.24. The company has a debt-to-equity ratio of 2.21, a quick ratio of 4.50 and a current ratio of 5.36.

BXP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Wednesday, December 31st. BXP’s dividend payout ratio is currently 160.92%.

Insider Activity

In other news, CFO Michael E. Labelle sold 13,422 shares of BXP stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $72.34, for a total value of $970,947.48. Following the completion of the transaction, the chief financial officer owned 9,223 shares in the company, valued at approximately $667,191.82. The trade was a 59.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John J. Stroman sold 16,838 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $72.17, for a total value of $1,215,198.46. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 70,710 shares of company stock worth $5,107,771. Corporate insiders own 1.35% of the company’s stock.

Institutional Trading of BXP

A number of hedge funds and other institutional investors have recently made changes to their positions in BXP. Loomis Sayles & Co. L P acquired a new position in BXP during the 2nd quarter worth about $25,000. Muzinich & Co. Inc. bought a new position in shares of BXP in the third quarter worth about $27,000. Princeton Global Asset Management LLC lifted its position in shares of BXP by 892.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 397 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 357 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of BXP during the second quarter valued at approximately $29,000. Finally, REAP Financial Group LLC increased its holdings in shares of BXP by 193.2% in the second quarter. REAP Financial Group LLC now owns 472 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 311 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

About BXP

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.