Boston Properties (NYSE:BXP) Price Target Cut to $83.00 by Analysts at Scotiabank

Boston Properties (NYSE:BXP) had its target price cut by stock analysts at Scotiabank from $85.00 to $83.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target suggests a potential upside of 17.10% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. UBS Group boosted their price target on shares of Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Piper Sandler reduced their price target on shares of Boston Properties from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Wedbush downgraded shares of Boston Properties from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 30th. Compass Point upgraded shares of Boston Properties from a “neutral” rating to a “buy” rating and increased their price target for the company from $80.00 to $88.00 in a report on Thursday, November 14th. Finally, Barclays increased their price objective on shares of Boston Properties from $88.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $82.08.

Boston Properties Price Performance

BXP traded up $0.84 during trading on Friday, hitting $70.88. The company’s stock had a trading volume of 2,958,370 shares, compared to its average volume of 1,266,368. The company has a current ratio of 5.69, a quick ratio of 5.51 and a debt-to-equity ratio of 2.09. The business’s fifty day simple moving average is $72.15 and its 200 day simple moving average is $76.94. The firm has a market capitalization of $11.21 billion, a price-to-earnings ratio of 708.86, a P/E/G ratio of 0.91 and a beta of 1.18. Boston Properties has a twelve month low of $56.46 and a twelve month high of $90.11.

Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $1.28. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. On average, equities research analysts forecast that Boston Properties will post 6.91 EPS for the current fiscal year.

Insider Activity

In related news, EVP Hilary J. Spann sold 12,379 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $72.02, for a total value of $891,535.58. Following the completion of the transaction, the executive vice president now directly owns 7,271 shares of the company’s stock, valued at $523,657.42. This trade represents a 63.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Boston Properties in the fourth quarter valued at $32,000. Harvest Fund Management Co. Ltd boosted its holdings in Boston Properties by 5,025.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 603 shares during the last quarter. Brooklyn Investment Group bought a new position in Boston Properties during the third quarter worth about $58,000. Huntington National Bank lifted its holdings in shares of Boston Properties by 29.8% during the 4th quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 263 shares in the last quarter. Finally, Hurley Capital LLC bought a new position in shares of Boston Properties during the 4th quarter valued at about $94,000. 98.72% of the stock is owned by 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.