Barclays Cuts Boston Properties (NYSE:BXP) Price Target to $79.00

Boston Properties (NYSE:BXP) had its target price cut by Barclays from $89.00 to $79.00 in a research report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Other equities analysts also recently issued research reports about the company. Wedbush downgraded Boston Properties from a “hold” rating to a “strong sell” rating in a report on Thursday, January 30th. Piper Sandler decreased their price objective on shares of Boston Properties from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Scotiabank dropped their target price on shares of Boston Properties from $85.00 to $83.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Truist Financial boosted their price target on shares of Boston Properties from $77.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Compass Point upgraded shares of Boston Properties from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $88.00 in a report on Thursday, November 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Boston Properties presently has an average rating of “Hold” and a consensus target price of $81.31.

Boston Properties Stock Up 2.5 %

Shares of NYSE BXP opened at $65.55 on Friday. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 655.57, a PEG ratio of 0.91 and a beta of 1.19. The company has a quick ratio of 5.51, a current ratio of 5.69 and a debt-to-equity ratio of 2.09. The firm’s fifty day moving average is $70.43 and its 200 day moving average is $76.73. Boston Properties has a 52 week low of $56.46 and a 52 week high of $90.11.

Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $1.28. Boston Properties had a net margin of 0.38% and a return on equity of 3.90%. On average, equities research analysts expect that Boston Properties will post 6.91 earnings per share for the current year.

Boston Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.98 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.92 annualized dividend and a dividend yield of 5.98%. Boston Properties’s payout ratio is presently 3,920.00%.

Insider Transactions at Boston Properties

In other news, EVP Hilary J. Spann sold 12,379 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $72.02, for a total transaction of $891,535.58. Following the completion of the transaction, the executive vice president now directly owns 7,271 shares of the company’s stock, valued at $523,657.42. The trade was a 63.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donna D. Garesche sold 2,143 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $67.87, for a total transaction of $145,445.41. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On Boston Properties

Hedge funds and other institutional investors have recently modified their holdings of the company. Canada Post Corp Registered Pension Plan bought a new position in Boston Properties in the fourth quarter valued at about $32,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Boston Properties by 5,025.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 603 shares during the period. Brooklyn Investment Group bought a new stake in Boston Properties during the third quarter valued at about $58,000. Huntington National Bank increased its stake in shares of Boston Properties by 29.8% in the fourth quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 263 shares in the last quarter. Finally, Hurley Capital LLC purchased a new stake in shares of Boston Properties during the fourth quarter worth about $94,000. 98.72% of the stock is owned by institutional investors.

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.