BXP (NYSE:BXP) Price Target Raised to $81.00

BXP (NYSE:BXP) had its target price boosted by Scotiabank from $77.00 to $81.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

A number of other research analysts have also commented on the company. Wells Fargo & Company lowered their price target on BXP from $78.00 to $77.00 and set an “overweight” rating on the stock in a report on Wednesday, August 27th. UBS Group increased their target price on shares of BXP from $68.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, September 9th. Wall Street Zen cut shares of BXP from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Cantor Fitzgerald initiated coverage on shares of BXP in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $90.00 price target for the company. Finally, New Street Research set a $85.00 price objective on shares of BXP in a report on Monday, October 13th. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $79.42.

BXP Stock Performance

BXP opened at $70.60 on Thursday. The business’s 50 day moving average is $73.35 and its 200-day moving average is $70.21. The stock has a market cap of $11.19 billion, a PE ratio of -55.59, a price-to-earnings-growth ratio of 7.35 and a beta of 1.20. The company has a current ratio of 4.50, a quick ratio of 3.76 and a debt-to-equity ratio of 2.26. BXP has a twelve month low of $54.22 and a twelve month high of $84.75.

BXP (NYSE:BXP) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.02. BXP had a positive return on equity of 1.35% and a negative net margin of 5.82%.The business had revenue of $871.51 million during the quarter, compared to analyst estimates of $860.88 million. During the same period in the prior year, the company posted $1.81 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. BXP has set its FY 2025 guidance at 6.890-6.920 EPS. On average, analysts predict that BXP will post 6.91 earnings per share for the current year.

BXP Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were paid a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.0%. BXP’s payout ratio is currently -220.47%.

Insider Buying and Selling

In other BXP news, EVP John J. Stroman sold 16,838 shares of BXP stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $72.17, for a total value of $1,215,198.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael E. Labelle sold 13,422 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.34, for a total value of $970,947.48. Following the completion of the transaction, the chief financial officer directly owned 9,223 shares in the company, valued at $667,191.82. This represents a 59.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.49% of the stock is owned by insiders.

Hedge Funds Weigh In On BXP

Hedge funds have recently modified their holdings of the stock. Loomis Sayles & Co. L P purchased a new stake in shares of BXP during the second quarter valued at $25,000. Muzinich & Co. Inc. purchased a new position in BXP in the 3rd quarter worth about $27,000. MUFG Securities EMEA plc acquired a new stake in BXP during the 2nd quarter worth about $29,000. REAP Financial Group LLC lifted its stake in BXP by 193.2% during the second quarter. REAP Financial Group LLC now owns 472 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 311 shares in the last quarter. Finally, Avalon Trust Co acquired a new position in shares of BXP in the third quarter worth about $36,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

BXP 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.