Boston Properties (NYSE:BXP) Price Target Lowered to $66.00 at Barclays

Boston Properties (NYSE:BXP) had its price target lowered by Barclays from $67.00 to $66.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group raised shares of Boston Properties from a hold rating to a buy rating and boosted their price target for the company from $57.00 to $80.00 in a research report on Tuesday, January 2nd. StockNews.com upgraded Boston Properties from a sell rating to a hold rating in a research report on Thursday, February 1st. Piper Sandler lifted their target price on Boston Properties from $60.00 to $77.00 and gave the stock a neutral rating in a research report on Wednesday, December 20th. Deutsche Bank Aktiengesellschaft initiated coverage on Boston Properties in a research report on Tuesday, January 30th. They set a hold rating and a $74.00 target price on the stock. Finally, Truist Financial cut their target price on Boston Properties from $77.00 to $75.00 and set a hold rating on the stock in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $69.56.

Boston Properties Trading Up 3.4 %

Shares of NYSE:BXP opened at $63.17 on Wednesday. Boston Properties has a 52 week low of $46.80 and a 52 week high of $73.97. The company’s 50 day moving average is $65.43 and its two-hundred day moving average is $62.69. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 1.99. The company has a market cap of $9.92 billion, a PE ratio of 52.19 and a beta of 1.15.

Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.05). Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. The firm had revenue of $828.90 million during the quarter, compared to analysts’ expectations of $811.59 million. During the same period in the prior year, the company posted $1.86 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts predict that Boston Properties will post 7.12 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend is Wednesday, March 27th. Boston Properties’s payout ratio is 323.97%.

Insiders Place Their Bets

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total transaction of $889,186.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boston Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. acquired a new position in Boston Properties during the 4th quarter worth approximately $29,000. Manchester Capital Management LLC boosted its stake in shares of Boston Properties by 435.9% during the 4th quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 340 shares in the last quarter. Quarry LP purchased a new stake in shares of Boston Properties during the 4th quarter worth approximately $29,000. Eagle Bay Advisors LLC purchased a new stake in shares of Boston Properties during the 2nd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Boston Properties by 770.9% during the 4th quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 424 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Boston Properties Company Profile

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.