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

Boston Properties (NYSE:BXP) had its target price trimmed by Scotiabank from $85.00 to $83.00 in a research report released on Friday,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

BXP has been the subject of several other research reports. Barclays increased their price target on Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Truist Financial increased their price target on Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Wedbush cut Boston Properties from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 30th. Piper Sandler decreased their price target on Boston Properties from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, UBS Group increased their price target on Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Boston Properties has a consensus rating of “Hold” and a consensus target price of $82.08.

Boston Properties Price Performance

Shares of BXP opened at $70.88 on Friday. The company has a market cap of $11.21 billion, a P/E ratio of 708.86, a PEG ratio of 0.91 and a beta of 1.18. The stock has a fifty day moving average price of $72.08 and a 200 day moving average price of $76.96. The company has a debt-to-equity ratio of 2.09, a current ratio of 5.69 and a quick ratio of 5.51. Boston Properties has a 12 month low of $56.46 and a 12 month high of $90.11.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, January 28th. The real estate investment trust reported $1.79 EPS for the quarter, topping 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, research analysts forecast that Boston Properties will post 6.91 earnings per share for the current year.

Boston Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st were issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend was Tuesday, December 31st. Boston Properties’s dividend payout ratio (DPR) is currently 3,920.00%.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, EVP Hilary J. Spann sold 12,379 shares of the firm’s 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 sale, the executive vice president now owns 7,271 shares of the company’s stock, valued at $523,657.42. This trade represents a 63.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.35% of the company’s stock.

Institutional Trading of Boston Properties

A number of hedge funds have recently modified their holdings of the company. Canada Post Corp Registered Pension Plan bought a new position in shares of Boston Properties during the 4th quarter worth approximately $32,000. Harvest Fund Management Co. Ltd lifted its position in shares of 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 buying an additional 603 shares during the period. Brooklyn Investment Group bought a new position in shares of Boston Properties during the 3rd quarter worth approximately $58,000. Huntington National Bank lifted its position 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 worth $85,000 after buying an additional 263 shares during the period. Finally, Hurley Capital LLC bought a new position in shares of Boston Properties during the 4th quarter worth approximately $94,000. Institutional investors own 98.72% of the company’s stock.

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.