Wells Fargo & Company Cuts Boston Properties (NYSE:BXP) Price Target to $80.00

Boston Properties (NYSE:BXP) had its target price lowered by equities research analysts at Wells Fargo & Company from $88.00 to $80.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 11.49% from the company’s current price.

Several other equities analysts have also issued reports on BXP. UBS Group boosted their price objective on Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Mizuho decreased their price target on shares of Boston Properties from $92.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Scotiabank reaffirmed a “sector perform” rating and set a $85.00 price target on shares of Boston Properties in a research note on Thursday, November 7th. Wedbush cut shares of Boston Properties from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 30th. Finally, Compass Point raised shares of Boston Properties from a “neutral” rating to a “buy” rating and raised their target price for the company from $80.00 to $88.00 in a research note on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $82.23.

Boston Properties Trading Down 1.4 %

NYSE:BXP traded down $0.99 on Monday, hitting $71.75. 52,947 shares of the stock were exchanged, compared to its average volume of 1,243,772. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 716.42, a P/E/G ratio of 0.95 and a beta of 1.18. Boston Properties has a 52 week low of $56.46 and a 52 week high of $90.11. The company has a debt-to-equity ratio of 2.09, a quick ratio of 5.51 and a current ratio of 5.69. The company’s 50-day moving average price is $74.71 and its 200 day moving average price is $76.93.

Boston Properties (NYSE:BXP) last announced its quarterly 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 earnings per share for the current year.

Insider Transactions at Boston Properties

In related news, EVP Hilary J. Spann sold 12,379 shares of Boston Properties stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 7,271 shares of the company’s stock, valued at $523,657.42. The trade was a 63.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.35% of the company’s stock.

Institutional Investors Weigh In On Boston Properties

Several institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group grew its stake in shares of Boston Properties by 19.8% during the 4th quarter. Brooklyn Investment Group now owns 858 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 142 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Boston Properties by 1.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 8,731 shares of the real estate investment trust’s stock worth $650,000 after acquiring an additional 156 shares during the period. Sound Income Strategies LLC grew its stake in shares of Boston Properties by 18.4% during the 4th quarter. Sound Income Strategies LLC now owns 3,800 shares of the real estate investment trust’s stock worth $283,000 after acquiring an additional 590 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in Boston Properties by 5,025.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 603 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Boston Properties by 25.8% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,414 shares of the real estate investment trust’s stock worth $403,000 after purchasing an additional 1,112 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

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.