Scotiabank Reaffirms “Sector Perform” Rating for Boston Properties (NYSE:BXP)

Boston Properties (NYSE:BXP)‘s stock had its “sector perform” rating restated by equities research analysts at Scotiabank in a note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $85.00 target price on the real estate investment trust’s stock. Scotiabank’s target price would indicate a potential upside of 2.57% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $78.00 to $105.00 in a research note on Wednesday, October 23rd. Compass Point boosted their price objective on Boston Properties from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. StockNews.com lowered Boston Properties from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. UBS Group boosted their price objective on Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Evercore ISI boosted their price objective on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $80.23.

Boston Properties Stock Performance

BXP opened at $82.87 on Thursday. The stock has a market cap of $13.10 billion, a PE ratio of 35.87, a P/E/G ratio of 0.55 and a beta of 1.18. The company has a current ratio of 5.51, a quick ratio of 4.83 and a debt-to-equity ratio of 2.01. Boston Properties has a 1 year low of $50.64 and a 1 year high of $90.11. The stock’s 50 day simple moving average is $81.51 and its 200-day simple moving average is $70.40.

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

Insider Buying and Selling at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Institutional Investors Weigh In On Boston Properties

Several large investors have recently modified their holdings of BXP. Earnest Partners LLC increased its holdings in shares of Boston Properties by 25.9% in 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 acquiring an additional 542,610 shares in the last quarter. Sei Investments Co. grew its holdings in shares of 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 buying an additional 371,946 shares in the last quarter. Swedbank AB bought a new position in shares of Boston Properties during the first quarter worth about $16,729,000. Point72 Asset Management L.P. bought a new position in shares of Boston Properties during the second quarter worth about $12,914,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Boston Properties by 356.2% during the first quarter. Russell Investments Group Ltd. now owns 245,758 shares of the real estate investment trust’s stock worth $15,977,000 after buying an additional 191,883 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

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.