Boston Properties (NYSE:BXP) PT Raised to $78.00 at Piper Sandler

Boston Properties (NYSE:BXP) had its price target hoisted by analysts at Piper Sandler from $70.00 to $78.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s target price suggests a potential upside of 4.85% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Truist Financial raised their target price on shares of Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price target on shares of Boston Properties in a report on Thursday, June 20th. StockNews.com upgraded Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Barclays cut their target price on Boston Properties from $66.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. Finally, Evercore ISI boosted their price target on shares of Boston Properties from $76.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $72.00.

Boston Properties Price Performance

BXP stock opened at $74.39 on Tuesday. The company has a market capitalization of $11.68 billion, a PE ratio of 60.98, a P/E/G ratio of 0.35 and a beta of 1.18. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90. The stock’s 50 day moving average is $68.31 and its two-hundred day moving average is $64.28. Boston Properties has a 52-week low of $50.64 and a 52-week high of $75.73.

Boston Properties (NYSE:BXP) last issued its quarterly 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 company had revenue of $850.48 million for the quarter, compared to the consensus estimate of $819.49 million. During the same period in the previous year, the business posted $1.86 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts predict that Boston Properties will post 7.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Properties

In other 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 value of $351,410.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Properties

A number of hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in Boston Properties during the 4th quarter worth about $890,848,000. Earnest Partners LLC raised 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 during the period. Centersquare Investment Management LLC lifted its position in shares of Boston Properties by 30.9% in the 4th 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 acquiring an additional 468,950 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Boston Properties by 51.6% in the 4th 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 purchasing an additional 379,136 shares during the period. Finally, Sei Investments Co. boosted its stake in Boston Properties by 32.9% in the 2nd 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 during the period. 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.