Evercore ISI Raises Boston Properties (NYSE:BXP) Price Target to $84.00

Boston Properties (NYSE:BXP) had its price target boosted by Evercore ISI from $77.00 to $84.00 in a research report released on Monday, Benzinga reports. Evercore ISI currently has an outperform rating on the real estate investment trust’s stock.

Several other brokerages have also issued reports on BXP. Wells Fargo & Company lifted their target price on shares of Boston Properties from $73.00 to $80.00 and gave the company an overweight rating in a research report on Wednesday, September 11th. Piper Sandler increased their target price on Boston Properties from $70.00 to $78.00 and gave the company a neutral rating in a research note on Tuesday, September 3rd. StockNews.com raised Boston Properties from a sell rating to a hold rating in a research note on Thursday, August 8th. Barclays reduced their price objective on Boston Properties from $66.00 to $65.00 and set an equal weight rating on the stock in a research report on Friday, May 24th. Finally, Morgan Stanley restated an equal weight rating and issued a $62.00 target price on shares of Boston Properties in a research report on Thursday, June 20th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $74.08.

Boston Properties Stock Performance

NYSE BXP opened at $81.29 on Monday. The company’s 50 day simple moving average is $71.59 and its two-hundred day simple moving average is $65.14. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.83. Boston Properties has a 1 year low of $50.64 and a 1 year high of $83.38. The stock has a market capitalization of $12.77 billion, a PE ratio of 66.63, a P/E/G ratio of 0.35 and a beta of 1.18.

Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The business had revenue of $850.48 million for the quarter, compared to analysts’ expectations of $819.49 million. During the same quarter in the previous year, the firm earned $1.86 earnings per share. Boston Properties’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts predict that Boston Properties will post 7.11 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Monday, September 30th. Boston Properties’s dividend payout ratio is 321.31%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Boston Properties

A number of large investors have recently modified their holdings of BXP. Vanguard Personalized Indexing Management LLC lifted its holdings in Boston Properties by 0.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,479 shares of the real estate investment trust’s stock worth $1,261,000 after buying an additional 150 shares during the period. Mystic Asset Management Inc. raised its position in shares of Boston Properties by 3.1% in the 2nd quarter. Mystic Asset Management Inc. now owns 5,541 shares of the real estate investment trust’s stock worth $341,000 after acquiring an additional 165 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Boston Properties by 2.6% in the 2nd quarter. Signaturefd LLC now owns 6,597 shares of the real estate investment trust’s stock valued at $406,000 after purchasing an additional 168 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Boston Properties by 0.3% during the second quarter. Daiwa Securities Group Inc. now owns 63,629 shares of the real estate investment trust’s stock valued at $3,917,000 after purchasing an additional 175 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in Boston Properties by 2.8% in the first quarter. First Trust Direct Indexing L.P. now owns 6,620 shares of the real estate investment trust’s stock worth $432,000 after purchasing an additional 182 shares during the period. Institutional investors own 98.72% of the company’s stock.

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.