Boston Properties (NYSE:BXP) Price Target Cut to $85.00 by Analysts at Piper Sandler

Boston Properties (NYSE:BXP) had its price objective lowered by Piper Sandler from $100.00 to $85.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Several other brokerages have also weighed in on BXP. Scotiabank lowered 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 note on Friday, February 28th. Wells Fargo & Company dropped their target price on shares of Boston Properties from $88.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Wedbush cut Boston Properties from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 30th. Mizuho dropped their price objective on Boston Properties from $92.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, 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, March 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $79.83.

Boston Properties Stock Up 1.3 %

BXP stock opened at $63.65 on Tuesday. Boston Properties has a one year low of $54.22 and a one year high of $90.11. The firm has a market cap of $10.07 billion, a PE ratio of 636.60, a PEG ratio of 0.91 and a beta of 1.06. The firm’s 50 day moving average price is $66.97 and its 200-day moving average price is $74.50. The company has a debt-to-equity ratio of 2.09, a quick ratio of 5.51 and a current ratio of 5.69.

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

Boston Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date is Monday, March 31st. Boston Properties’s dividend payout ratio is presently 3,920.00%.

Insider Activity at Boston Properties

In other news, EVP Donna D. Garesche sold 2,143 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Hilary J. Spann sold 12,379 shares of the firm’s stock in a transaction dated 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 in the company, valued at $523,657.42. This trade represents a 63.00 % decrease in their position. The disclosure for this sale can be found here. 1.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Post Corp Registered Pension Plan acquired a new stake in Boston Properties during the fourth quarter worth approximately $32,000. Sentry Investment Management LLC purchased a new position in shares of Boston Properties in the 1st quarter valued at $34,000. Brooklyn Investment Group grew its position in shares of Boston Properties by 19.8% in the 4th quarter. Brooklyn Investment Group now owns 858 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 142 shares during the last quarter. Huntington National Bank lifted its position in 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 valued at $85,000 after acquiring an additional 263 shares during the last quarter. Finally, Hurley Capital LLC acquired a new position in Boston Properties in the fourth quarter valued at $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.