Boston Properties (NYSE:BXP) PT Lowered to $69.00 at Evercore ISI

Boston Properties (NYSE:BXP) had its price target trimmed by Evercore ISI from $73.00 to $69.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Several other equities analysts also recently weighed in on BXP. Deutsche Bank Aktiengesellschaft began coverage on Boston Properties in a research report on Tuesday, January 30th. They set a hold rating and a $74.00 price target for the company. Wedbush lowered their price objective on shares of Boston Properties from $66.00 to $63.00 and set a neutral rating for the company in a research report on Thursday, May 2nd. Barclays decreased their price target on shares of Boston Properties from $67.00 to $66.00 and set an equal weight rating for the company in a research report on Wednesday, March 27th. StockNews.com downgraded shares of Boston Properties from a hold rating to a sell rating in a research report on Friday. Finally, Truist Financial decreased their target price on shares of Boston Properties from $77.00 to $75.00 and set a hold rating for the company in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $69.53.

Boston Properties Price Performance

Boston Properties stock opened at $61.56 on Monday. The company has a quick ratio of 5.40, a current ratio of 4.77 and a debt-to-equity ratio of 1.91. The firm has a market cap of $9.67 billion, a PE ratio of 50.46 and a beta of 1.15. The company’s 50 day moving average is $62.57 and its two-hundred day moving average is $63.17. Boston Properties has a 52-week low of $46.80 and a 52-week high of $73.97.

Boston Properties (NYSE:BXP) last posted its earnings results 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). Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The firm had revenue of $839.44 million during the quarter, compared to analysts’ expectations of $808.68 million. During the same period in the previous year, the firm posted $1.73 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts expect that Boston Properties will post 7.07 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 6.37%. The ex-dividend date of this dividend was Wednesday, March 27th. Boston Properties’s dividend payout ratio is presently 321.31%.

Insider Activity at Boston Properties

In other news, EVP Raymond A. Ritchey sold 14,150 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total transaction of $889,186.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Properties

Several institutional investors and hedge funds have recently bought and sold shares of BXP. Bank of New York Mellon Corp raised its position in shares of Boston Properties by 4.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,358,781 shares of the real estate investment trust’s stock valued at $80,820,000 after buying an additional 55,209 shares in the last quarter. New York State Teachers Retirement System lifted its position in Boston Properties by 2.8% in the 3rd quarter. New York State Teachers Retirement System now owns 156,664 shares of the real estate investment trust’s stock valued at $9,318,000 after acquiring an additional 4,290 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Boston Properties by 13.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 154,366 shares of the real estate investment trust’s stock valued at $9,182,000 after purchasing an additional 18,724 shares during the period. Strs Ohio grew its stake in shares of Boston Properties by 83.6% in the 3rd quarter. Strs Ohio now owns 433,372 shares of the real estate investment trust’s stock worth $25,776,000 after buying an additional 197,300 shares in the last quarter. Finally, Advisor Partners II LLC lifted its stake in Boston Properties by 33.1% in the third quarter. Advisor Partners II LLC now owns 5,327 shares of the real estate investment trust’s stock worth $317,000 after purchasing an additional 1,325 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

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.