Boston Properties (NYSE:BXP) Lifted to “Overweight” at Piper Sandler

Boston Properties (NYSE:BXP) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Wednesday, FinViz reports. The firm currently has a $105.00 target price on the real estate investment trust’s stock, up from their previous target price of $78.00. Piper Sandler’s price target indicates a potential upside of 20.94% from the company’s previous close.

A number of other equities research analysts also recently issued reports on BXP. StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Wells Fargo & Company increased their price objective on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Truist Financial lifted their price target on shares of Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Scotiabank raised their target price on shares of Boston Properties from $76.00 to $82.00 and gave the company a “sector outperform” rating in a research report on Wednesday, September 11th. Finally, Evercore ISI increased their price target on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.91.

Boston Properties Price Performance

NYSE:BXP opened at $86.82 on Wednesday. Boston Properties has a 52 week low of $50.64 and a 52 week high of $90.11. The firm has a market cap of $13.64 billion, a price-to-earnings ratio of 71.16, a P/E/G ratio of 0.56 and a beta of 1.18. The firm’s 50-day simple moving average is $78.52 and its 200 day simple moving average is $68.44. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The business had revenue of $850.48 million for the quarter, compared to the consensus estimate of $819.49 million. During the same period in the prior year, the business posted $1.86 earnings per share. Boston Properties’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Boston Properties will post 7.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Peter V. Otteni sold 4,785 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Peter V. Otteni sold 4,785 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Raymond A. Ritchey sold 21,835 shares of the firm’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. Company insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On Boston Properties

Several large investors have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. lifted its position in Boston Properties by 2.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 133,871 shares of the real estate investment trust’s stock valued at $10,771,000 after acquiring an additional 3,502 shares in the last quarter. Whittier Trust Co. lifted its position in Boston Properties by 4.2% in the 3rd quarter. Whittier Trust Co. now owns 296,354 shares of the real estate investment trust’s stock valued at $23,844,000 after acquiring an additional 12,018 shares in the last quarter. Raymond James & Associates lifted its position in Boston Properties by 11.9% in the 3rd quarter. Raymond James & Associates now owns 110,587 shares of the real estate investment trust’s stock valued at $8,898,000 after acquiring an additional 11,752 shares in the last quarter. Blue Trust Inc. lifted its position in Boston Properties by 60.5% in the 3rd quarter. Blue Trust Inc. now owns 5,669 shares of the real estate investment trust’s stock valued at $456,000 after acquiring an additional 2,138 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of Boston Properties by 34.4% during the 3rd quarter. Sound Income Strategies LLC now owns 3,210 shares of the real estate investment trust’s stock worth $258,000 after buying an additional 821 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.