Barclays Issues Positive Forecast for Boston Properties (NYSE:BXP) Stock Price

Boston Properties (NYSE:BXP) had its target price hoisted by Barclays from $88.00 to $89.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

BXP has been the subject of several other research reports. UBS Group raised their price objective on shares of Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Truist Financial lifted their target price on Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Compass Point raised shares of Boston Properties from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $88.00 in a research report on Thursday, November 14th. StockNews.com lowered Boston Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, Wedbush lifted their price target on shares of Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $80.92.

Boston Properties Trading Down 0.2 %

NYSE:BXP opened at $78.41 on Monday. Boston Properties has a 52 week low of $52.61 and a 52 week high of $90.11. The company has a debt-to-equity ratio of 2.01, a quick ratio of 5.51 and a current ratio of 5.51. The firm’s fifty day moving average is $82.10 and its 200-day moving average is $71.27. The firm has a market cap of $12.40 billion, a P/E ratio of 33.94, a P/E/G ratio of 0.54 and a beta of 1.18.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 EPS 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 firm had revenue of $859.23 million for the quarter, compared to the consensus estimate of $829.91 million. During the same period last year, the company posted $1.86 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. Equities analysts expect that Boston Properties will post 7.1 earnings per share for the current year.

Boston Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend was Monday, September 30th. Boston Properties’s payout ratio is 169.70%.

Insider Buying and Selling

In related news, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction that occurred on Monday, September 9th. The stock was 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. 1.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boston Properties

Institutional investors and hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank lifted its stake in Boston Properties by 15.7% in the third quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust’s stock worth $3,966,000 after purchasing an additional 6,687 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Boston Properties in the third quarter worth about $58,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Boston Properties by 5,025.0% in the third 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. Crossmark Global Holdings Inc. boosted its holdings in Boston Properties by 9.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,575 shares of the real estate investment trust’s stock valued at $690,000 after acquiring an additional 763 shares during the period. Finally, Van ECK Associates Corp grew its position in Boston Properties by 12.0% during the 3rd quarter. Van ECK Associates Corp now owns 69,275 shares of the real estate investment trust’s stock worth $6,024,000 after acquiring an additional 7,447 shares during the last quarter. 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.