BXP (NYSE:BXP) Stock Rating Upgraded by Wall Street Zen

BXP (NYSE:BXP) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Other research analysts also recently issued reports about the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $68.00 target price on shares of BXP in a research note on Tuesday, June 2nd. Citigroup cut their price target on shares of BXP from $68.00 to $58.00 and set a “neutral” rating on the stock in a report on Wednesday, April 15th. Scotiabank boosted their price objective on shares of BXP from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Piper Sandler upped their price objective on shares of BXP from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. decreased their target price on BXP from $82.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Eleven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.11.

BXP Price Performance

BXP opened at $69.18 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 4.22 and a quick ratio of 4.22. The stock’s 50 day simple moving average is $65.18 and its 200 day simple moving average is $61.02. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 2.98 and a beta of 1.01. BXP has a 1 year low of $49.72 and a 1 year high of $79.33.

BXP (NYSE:BXP) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.94). The company had revenue of $872.15 million during the quarter, compared to the consensus estimate of $843.11 million. BXP had a net margin of 9.09% and a return on equity of 4.13%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.64 EPS. As a group, analysts predict that BXP will post 6.96 earnings per share for the current year.

Insider Activity

In other news, EVP Peter V. Otteni sold 4,863 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $59.06, for a total value of $287,208.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Eric G. Kevorkian sold 2,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $59.85, for a total value of $119,700.00. Following the completion of the sale, the senior vice president directly owned 311 shares in the company, valued at approximately $18,613.35. The trade was a 86.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,176 shares of company stock worth $2,151,552 in the last quarter. 1.50% of the stock is owned by company insiders.

Institutional Trading of BXP

A number of hedge funds have recently modified their holdings of the business. Elyxium Wealth LLC bought a new position in shares of BXP in the 4th quarter worth about $25,000. Princeton Global Asset Management LLC boosted its stake in BXP by 892.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 397 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 357 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in BXP during the second quarter worth about $29,000. Clearstead Advisors LLC grew its holdings in BXP by 109.4% in the fourth quarter. Clearstead Advisors LLC now owns 513 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 268 shares during the period. Finally, State of Wyoming grew its holdings in BXP by 45.5% in the fourth quarter. State of Wyoming now owns 617 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 193 shares during the period. Institutional investors own 98.72% of the company’s stock.

BXP Company Profile

Boston Properties, Inc (NYSE: BXP) is a publicly traded real estate investment trust (REIT) specializing in the ownership, management, and development of Class A office properties across major U.S. markets. Headquartered in Boston, Massachusetts, the company’s portfolio comprises high-quality office buildings, mixed-use developments and select retail assets designed to serve leading corporations in key metropolitan areas.

Established in 1970 by Mortimer B. Zuckerman, Boston Properties has grown through disciplined acquisitions and strategic ground-up developments.