Boston Properties (NYSE:BXP) Price Target Raised to $70.00 at Wedbush

Boston Properties (NYSE:BXP) had its price objective hoisted by Wedbush from $63.00 to $70.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Wedbush’s target price points to a potential upside of 5.44% from the stock’s previous close.

BXP has been the subject of several other research reports. Evercore ISI dropped their target price on shares of Boston Properties from $73.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Truist Financial dropped their price target on Boston Properties from $75.00 to $67.00 and set a “hold” rating on the stock in a research report on Friday, June 14th. BMO Capital Markets decreased their target price on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Barclays lowered their price target on Boston Properties from $66.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, May 24th. Finally, StockNews.com cut Boston Properties from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $70.07.

Boston Properties Stock Down 0.8 %

BXP traded down $0.54 during midday trading on Monday, reaching $66.39. The company’s stock had a trading volume of 1,291,527 shares, compared to its average volume of 1,340,230. The stock’s 50-day moving average is $63.35 and its 200-day moving average is $63.57. The firm has a market capitalization of $10.43 billion, a price-to-earnings ratio of 54.57, a PEG ratio of 0.46 and a beta of 1.18. Boston Properties has a 1 year low of $50.64 and a 1 year high of $73.97. The company has a current ratio of 4.83, a quick ratio of 4.77 and a debt-to-equity ratio of 1.90.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) 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 business had revenue of $850.48 million during the quarter, compared to the consensus estimate of $819.49 million. During the same period last year, the company posted $1.86 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, research analysts expect that Boston Properties will post 7.12 EPS for the current year.

Institutional Investors Weigh In On Boston Properties

Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Boston Properties in the 4th quarter worth about $890,848,000. Earnest Partners LLC raised its holdings in Boston Properties by 29.8% in the first quarter. Earnest Partners LLC now owns 2,094,625 shares of the real estate investment trust’s stock valued at $136,800,000 after buying an additional 480,961 shares during the period. Centersquare Investment Management LLC lifted its position in Boston Properties by 30.9% during the fourth quarter. Centersquare Investment Management LLC now owns 1,986,707 shares of the real estate investment trust’s stock valued at $139,407,000 after buying an additional 468,950 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Boston Properties by 51.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,113,987 shares of the real estate investment trust’s stock worth $78,168,000 after buying an additional 379,136 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in shares of Boston Properties by 206.6% in the first quarter. Los Angeles Capital Management LLC now owns 508,961 shares of the real estate investment trust’s stock worth $33,240,000 after acquiring an additional 342,939 shares in the last quarter. Institutional investors and hedge funds 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.