Barclays Has Lowered Expectations for Boston Properties (NYSE:BXP) Stock Price

Boston Properties (NYSE:BXP) had its price objective cut by investment analysts at Barclays from $89.00 to $79.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target would suggest a potential upside of 20.97% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company dropped their price objective on Boston Properties from $88.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Jefferies Financial Group lowered their price target on shares of Boston Properties from $93.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Truist Financial boosted their price objective on shares of Boston Properties from $77.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Scotiabank lowered their target price on shares of 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. Finally, Compass Point upgraded shares of Boston Properties from a “neutral” rating to a “buy” rating and boosted their price target for the company from $80.00 to $88.00 in a research report on Thursday, November 14th. Two 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $81.31.

Boston Properties Stock Performance

Shares of NYSE BXP traded up $1.34 during trading on Friday, reaching $65.31. 369,442 shares of the stock traded hands, compared to its average volume of 1,312,446. The company has a 50-day moving average of $70.62 and a 200-day moving average of $76.75. Boston Properties has a 52-week low of $56.46 and a 52-week high of $90.11. The stock has a market capitalization of $10.33 billion, a P/E ratio of 653.14, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a current ratio of 5.69 and a quick ratio of 5.51.

Boston Properties (NYSE:BXP) last issued 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%. Analysts forecast that Boston Properties will post 6.91 EPS for the current fiscal year.

Insider Buying and Selling at Boston Properties

In related news, EVP Donna D. Garesche sold 2,143 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Hilary J. Spann sold 12,379 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was 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 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 disclosure for this sale can be found here. Corporate insiders own 1.35% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BXP. Canada Post Corp Registered Pension Plan bought a new position in Boston Properties in the fourth quarter worth $32,000. Harvest Fund Management Co. Ltd increased 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 acquiring an additional 603 shares in the last quarter. Brooklyn Investment Group purchased a new position in Boston Properties during the 3rd quarter valued at about $58,000. Huntington National Bank boosted its stake 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 worth $85,000 after acquiring an additional 263 shares in the last quarter. Finally, Hurley Capital LLC purchased a new stake in Boston Properties in the fourth quarter worth about $94,000. Hedge funds and other 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.