Boston Properties (NYSE:BXP) Given New $91.00 Price Target at Scotiabank

Boston Properties (NYSE:BXP) had its target price increased by Scotiabank from $82.00 to $91.00 in a research note published on Friday, Benzinga reports. The firm currently has a sector outperform rating on the real estate investment trust’s stock.

A number of other research analysts have also issued reports on the company. Piper Sandler upgraded Boston Properties from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $78.00 to $105.00 in a research report on Wednesday. StockNews.com upgraded Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Wells Fargo & Company lifted their target price on Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Wedbush increased their price target on Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, Truist Financial raised their price target on Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.73.

Boston Properties Price Performance

Shares of NYSE BXP opened at $86.99 on Friday. The business has a 50 day simple moving average of $79.25 and a 200-day simple moving average of $68.71. Boston Properties has a twelve month low of $50.64 and a twelve month high of $90.11. The company has a market capitalization of $13.66 billion, a price-to-earnings ratio of 71.53, a price-to-earnings-growth ratio of 0.56 and a beta of 1.18. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 1.90.

Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $819.49 million. During the same period last year, the company posted $1.86 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts expect that Boston Properties will post 7.11 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.98 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.92 annualized dividend and a dividend yield of 4.51%. Boston Properties’s dividend payout ratio is currently 321.31%.

Insider Transactions at Boston Properties

In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction that occurred on 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 legal filing with the SEC, which is available through this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of the business’s stock in a transaction on 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. 1.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Properties

Institutional investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC lifted its position in shares of 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 purchasing an additional 150 shares in the last quarter. Mystic Asset Management Inc. grew its holdings in shares of Boston Properties by 3.1% during the 2nd quarter. Mystic Asset Management Inc. now owns 5,541 shares of the real estate investment trust’s stock valued at $341,000 after acquiring an additional 165 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Boston Properties by 2.6% during the 2nd quarter. Signaturefd LLC now owns 6,597 shares of the real estate investment trust’s stock valued at $406,000 after acquiring an additional 168 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings 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 worth $3,917,000 after acquiring an additional 175 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in shares of Boston Properties by 2.8% during 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 acquiring an additional 182 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.