Boston Properties (NYSE:BXP) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Boston Properties (NYSE:BXP) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $78.00 price target on the real estate investment trust’s stock.

Several other equities analysts have also commented on the company. Wedbush lowered Boston Properties from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 30th. Scotiabank decreased their target price on Boston Properties from $85.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Truist Financial increased their target price on Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Barclays decreased their target price on Boston Properties from $89.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Piper Sandler decreased their target price on Boston Properties from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Boston Properties presently has an average rating of “Hold” and a consensus target price of $80.85.

Boston Properties Stock Performance

Shares of Boston Properties stock opened at $68.65 on Monday. Boston Properties has a 52 week low of $56.46 and a 52 week high of $90.11. The business’s fifty day simple moving average is $70.36 and its 200-day simple moving average is $76.68. The firm has a market cap of $10.86 billion, a PE ratio of 686.61, a price-to-earnings-growth 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.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 EPS for the quarter, beating the consensus estimate of $0.51 by $1.28. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. Equities analysts forecast that Boston Properties will post 6.91 earnings per share for the current year.

Boston Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st were issued a $0.98 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.71%. Boston Properties’s payout ratio is currently 3,920.00%.

Insider Activity

In related news, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Hilary J. Spann sold 12,379 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $72.02, for a total value of $891,535.58. Following the sale, 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 disclosure for this sale can be found here. Company insiders own 1.35% of the company’s stock.

Institutional Trading of Boston Properties

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

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.