Boston Properties (NYSE:BXP) Price Target Raised to $80.00 at UBS Group

Boston Properties (NYSE:BXP) had its price target lifted by UBS Group from $64.00 to $80.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other equities analysts also recently commented on the stock. Piper Sandler upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $78.00 to $105.00 in a research note on Wednesday, October 23rd. 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 note on Monday, September 16th. 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 note on Monday, August 5th. Scotiabank boosted their price target on shares of Boston Properties from $82.00 to $91.00 and gave the stock a “sector outperform” rating in a research note on Friday, October 25th. Finally, Compass Point boosted their price target on shares of Boston Properties from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $80.69.

Boston Properties Stock Up 1.3 %

Shares of NYSE BXP opened at $81.38 on Tuesday. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of 35.23, a PEG ratio of 0.54 and a beta of 1.18. The company has a quick ratio of 4.83, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. Boston Properties has a 52-week low of $50.64 and a 52-week high of $90.11. The business’s 50 day moving average is $81.06 and its two-hundred day moving average is $70.09.

Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). The firm had revenue of $859.23 million during the quarter, compared to analysts’ expectations of $829.91 million. Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.86 EPS. Research analysts predict that Boston Properties will post 7.1 EPS for the current year.

Boston Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.98 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.92 annualized dividend and a yield of 4.82%. Boston Properties’s dividend payout ratio is presently 169.70%.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Peter V. Otteni sold 4,785 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of the company’s 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. 1.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boston Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Boston Properties by 0.5% in the first quarter. Vanguard Group Inc. now owns 23,568,962 shares of the real estate investment trust’s stock valued at $1,539,289,000 after buying an additional 122,583 shares during the last quarter. Earnest Partners LLC raised its holdings in 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 worth $162,348,000 after purchasing an additional 542,610 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Boston Properties by 6.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,923,225 shares of the real estate investment trust’s stock worth $118,394,000 after purchasing an additional 120,650 shares in the last quarter. Sei Investments Co. raised its holdings in 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 worth $92,567,000 after purchasing an additional 371,946 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Boston Properties by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 1,248,824 shares of the real estate investment trust’s stock worth $76,878,000 after purchasing an additional 38,048 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.