Boston Properties (NYSE:BXP) Price Target Cut to $83.00 by Analysts at Scotiabank

Boston Properties (NYSE:BXP) had its price objective dropped by investment analysts at Scotiabank from $85.00 to $83.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would suggest a potential upside of 17.10% from the stock’s current price.

Several other equities research analysts also recently issued reports on BXP. UBS Group raised their price target on Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Barclays lifted their target price on Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Mizuho dropped their target price on Boston Properties from $92.00 to $86.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Finally, Piper Sandler dropped their price target on shares of Boston Properties from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $82.08.

Boston Properties Trading Up 1.2 %

Shares of NYSE:BXP traded up $0.84 during mid-day trading on Friday, reaching $70.88. The stock had a trading volume of 2,958,370 shares, compared to its average volume of 1,266,368. The firm has a 50 day simple moving average of $72.15 and a two-hundred day simple moving average of $76.94. Boston Properties has a twelve month low of $56.46 and a twelve month high of $90.11. The company has a current ratio of 5.69, a quick ratio of 5.51 and a debt-to-equity ratio of 2.09. The firm has a market cap of $11.21 billion, a PE ratio of 708.86, a price-to-earnings-growth ratio of 0.91 and a beta of 1.18.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share for the quarter, topping the consensus estimate 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, research analysts predict that Boston Properties will post 6.91 EPS for the current fiscal year.

Insider Buying and Selling at Boston Properties

In related news, EVP Hilary J. Spann sold 12,379 shares of the firm’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 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. This trade represents a 63.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Canada Post Corp Registered Pension Plan bought a new stake in Boston Properties in the fourth quarter valued at $32,000. Harvest Fund Management Co. Ltd boosted its holdings in 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 acquiring an additional 603 shares in the last quarter. Brooklyn Investment Group bought a new stake in Boston Properties in the third quarter valued at $58,000. Huntington National Bank boosted its holdings 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 in the last quarter. Finally, Hurley Capital LLC bought a new stake in Boston Properties in the fourth quarter valued at $94,000. Institutional investors 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.