Boston Properties (NYSE:BXP) Given New $88.00 Price Target at Barclays

Boston Properties (NYSE:BXP) had its price objective raised by Barclays from $65.00 to $88.00 in a research note released on Monday morning, Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Several other equities analysts also recently commented on the stock. Piper Sandler raised shares of Boston Properties from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $78.00 to $105.00 in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Evercore ISI boosted their price target on shares of Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Truist Financial boosted their price target on shares of Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Finally, Wedbush boosted their price target on shares of Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.82.

Boston Properties Price Performance

Shares of NYSE:BXP opened at $87.39 on Monday. 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 $90.11. The company has a market capitalization of $13.73 billion, a P/E ratio of 71.63, a P/E/G ratio of 0.56 and a beta of 1.18. The firm’s 50 day simple moving average is $79.91 and its two-hundred day simple moving average is $69.13.

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

Boston Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Monday, September 30th. Boston Properties’s payout ratio is 321.31%.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total transaction of $351,410.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Institutional Trading of Boston Properties

Hedge funds have recently modified their holdings of the company. Earnest Partners LLC increased its holdings in shares of Boston Properties by 25.9% during the second quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock valued at $162,348,000 after acquiring an additional 542,610 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Boston Properties by 32.9% during the second quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock valued at $92,567,000 after acquiring an additional 371,946 shares in the last quarter. Swedbank AB acquired a new position in shares of Boston Properties during the first quarter valued at about $16,729,000. Point72 Asset Management L.P. acquired a new position in shares of Boston Properties during the second quarter valued at about $12,914,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Boston Properties by 356.2% during the first quarter. Russell Investments Group Ltd. now owns 245,758 shares of the real estate investment trust’s stock valued at $15,977,000 after acquiring an additional 191,883 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.