Wedbush Lowers Boston Properties (NYSE:BXP) Price Target to $63.00

Boston Properties (NYSE:BXP) had its target price decreased by research analysts at Wedbush from $66.00 to $63.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Wedbush’s price objective points to a potential upside of 3.65% from the company’s previous close. Wedbush also issued estimates for Boston Properties’ Q2 2024 earnings at $1.72 EPS, Q3 2024 earnings at $1.78 EPS, Q4 2024 earnings at $1.81 EPS, FY2024 earnings at $7.04 EPS, Q1 2025 earnings at $1.73 EPS, Q2 2025 earnings at $1.77 EPS, Q3 2025 earnings at $1.93 EPS, Q4 2025 earnings at $1.95 EPS and FY2025 earnings at $7.38 EPS.

BXP has been the subject of several other research reports. BMO Capital Markets decreased their price target on Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Boston Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 price objective for the company. Truist Financial decreased their price target on Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a research note on Tuesday, March 5th. Finally, Barclays lowered their price target on Boston Properties from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $69.47.

Boston Properties Stock Performance

NYSE:BXP traded up $0.71 during midday trading on Thursday, reaching $60.78. 891,709 shares of the company traded hands, compared to its average volume of 1,251,863. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 49.82 and a beta of 1.15. The company has a fifty day moving average price of $62.71 and a 200 day moving average price of $63.02. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.77 and a quick ratio of 5.40. Boston Properties has a twelve month low of $46.80 and a twelve month high of $73.97.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.22). The firm had revenue of $839.44 million during the quarter, compared to the consensus estimate of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 earnings per share. On average, analysts expect that Boston Properties will post 7.07 EPS for the current fiscal year.

Insider Transactions at Boston Properties

In related news, EVP Raymond A. Ritchey sold 14,150 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total value of $889,186.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boston Properties

Large investors have recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Boston Properties during the fourth quarter worth $29,000. Manchester Capital Management LLC raised its stake in shares of Boston Properties by 435.9% during the 4th quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 340 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Boston Properties by 770.9% during the 4th quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 424 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Boston Properties in the 4th quarter valued at approximately $34,000. Finally, Cambridge Trust Co. increased its holdings in Boston Properties by 80.1% in the fourth quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds 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.