Boston Properties (NYSE:BXP) Given New $63.00 Price Target at Wedbush

Boston Properties (NYSE:BXP) had its price objective decreased by research analysts at Wedbush from $66.00 to $63.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Wedbush’s price objective suggests a potential upside of 6.33% from the stock’s previous close.

Other analysts have also issued reports about the company. Truist Financial decreased their price objective on Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, March 5th. BMO Capital Markets lowered their price target on Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft started coverage on Boston Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $74.00 price objective on the stock. StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Barclays dropped their price target on shares of 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. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $69.47.

Boston Properties Price Performance

Shares of BXP opened at $59.25 on Thursday. The business’s fifty day moving average is $62.81 and its 200 day moving average is $63.04. Boston Properties has a 12-month low of $46.80 and a 12-month high of $73.97. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 1.99. The stock has a market cap of $9.31 billion, a P/E ratio of 48.57 and a beta of 1.15.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Tuesday, April 30th. 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 business had revenue of $839.44 million for the quarter, compared to analyst estimates of $808.68 million. Boston Properties had a return on equity of 2.35% and a net margin of 5.81%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.73 EPS. Sell-side analysts anticipate that Boston Properties will post 7.12 earnings per share for the current fiscal year.

Insider Transactions at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total transaction of $889,186.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Properties

Several institutional investors have recently made changes to their positions in BXP. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Boston Properties by 8.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,851 shares of the real estate investment trust’s stock valued at $1,819,000 after purchasing an additional 2,276 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Boston Properties by 6.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,348 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 199 shares in the last quarter. Norden Group LLC bought a new stake in shares of Boston Properties during the 1st quarter valued at about $287,000. Van ECK Associates Corp grew its holdings in shares of Boston Properties by 2.9% during the first quarter. Van ECK Associates Corp now owns 63,617 shares of the real estate investment trust’s stock worth $4,155,000 after purchasing an additional 1,817 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Boston Properties by 6.1% during the first quarter. Commonwealth Equity Services LLC now owns 135,580 shares of the real estate investment trust’s stock worth $8,855,000 after purchasing an additional 7,784 shares in the last quarter. Hedge funds and other 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.