Boston Properties (NYSE:BXP) Upgraded to Overweight at Piper Sandler

Piper Sandler upgraded shares of Boston Properties (NYSE:BXP) from a neutral rating to an overweight rating in a research report released on Wednesday morning, Marketbeat.com reports. The brokerage currently has $105.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $78.00.

A number of other research firms also recently weighed in on BXP. Wedbush increased their price target on shares of Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. StockNews.com upgraded Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Scotiabank upped their price target on Boston Properties from $76.00 to $82.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, September 11th. Truist Financial lifted their price objective on Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Finally, Evercore ISI boosted their target price on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Boston Properties presently has a consensus rating of “Moderate Buy” and an average price target of $77.91.

Boston Properties Stock Up 0.2 %

BXP stock opened at $86.97 on Wednesday. The company has a 50 day moving average price of $78.89 and a two-hundred day moving average price of $68.57. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83. The stock has a market capitalization of $13.66 billion, a P/E ratio of 71.29, a PEG ratio of 0.56 and a beta of 1.18. Boston Properties has a one year low of $50.64 and a one year high of $90.11.

Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The business had revenue of $850.48 million during the quarter, compared to analysts’ expectations of $819.49 million. During the same period in the prior year, the firm earned $1.86 EPS. Boston Properties’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Boston Properties will post 7.11 EPS for the current year.

Boston Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Monday, September 30th. Boston Properties’s payout ratio is 321.31%.

Insider Buying and Selling

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boston Properties

Institutional investors and hedge funds have recently made changes to their positions in the company. Park Avenue Securities LLC grew its stake in Boston Properties by 4.7% during the 1st quarter. Park Avenue Securities LLC now owns 8,235 shares of the real estate investment trust’s stock worth $538,000 after buying an additional 366 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Boston Properties by 198.1% in the 1st quarter. Sound Income Strategies LLC now owns 1,428 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 949 shares during the period. O ROURKE & COMPANY Inc bought a new stake in Boston Properties in the 1st quarter valued at about $291,000. Norden Group LLC acquired a new position in Boston Properties during the 1st quarter valued at about $287,000. Finally, Abundance Wealth Counselors boosted its stake in Boston Properties by 31.4% during the 1st quarter. Abundance Wealth Counselors now owns 5,772 shares of the real estate investment trust’s stock valued at $377,000 after purchasing an additional 1,379 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

About Boston Properties

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.