JPMorgan Chase & Co. Issues Pessimistic Forecast for BXP (NYSE:BXP) Stock Price

BXP (NYSE:BXP) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $82.00 to $79.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 52.58% from the company’s previous close.

Several other brokerages have also issued reports on BXP. Mizuho lowered BXP from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $79.00 to $62.00 in a research report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $70.00 price target on shares of BXP in a research note on Tuesday, January 6th. UBS Group reduced their price target on shares of BXP from $74.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Royal Bank Of Canada raised shares of BXP to an “outperform” rating in a research report on Thursday, December 4th. Finally, Piper Sandler dropped their price objective on shares of BXP from $87.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday. Ten analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.10.

BXP Stock Up 1.5%

Shares of BXP stock opened at $51.78 on Wednesday. The company has a market capitalization of $8.21 billion, a P/E ratio of 29.76, a price-to-earnings-growth ratio of 2.17 and a beta of 1.03. The company has a debt-to-equity ratio of 2.21, a current ratio of 5.36 and a quick ratio of 5.36. The business has a 50-day moving average of $57.97 and a two-hundred day moving average of $66.50. BXP has a 1 year low of $49.72 and a 1 year high of $79.33.

Insider Buying and Selling

In other 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 value of $73,341.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 owned 17,832 shares of the company’s stock, valued at $1,064,392.08. The trade was a 23.56% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 7,887 shares of company stock valued at $476,930. Insiders own 1.49% of the company’s stock.

Institutional Investors Weigh In On BXP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Loomis Sayles & Co. L P acquired a new position in shares of BXP during the 2nd quarter worth about $25,000. Muzinich & Co. Inc. bought a new position in shares of BXP in the 3rd quarter valued at about $27,000. Elyxium Wealth LLC acquired a new stake in shares of BXP in the fourth quarter valued at about $25,000. Princeton Global Asset Management LLC raised its holdings in 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 acquiring an additional 357 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in BXP during the second quarter worth about $29,000. 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.