Boston Properties, Inc. (NYSE:BXP) Receives $69.44 Consensus PT from Analysts

Shares of Boston Properties, Inc. (NYSE:BXP) have received an average recommendation of “Hold” from the seventeen ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $69.44.

A number of research firms have issued reports on BXP. StockNews.com upgraded Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. BMO Capital Markets reduced their target price on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. Jefferies Financial Group upgraded shares of Boston Properties from a “hold” rating to a “buy” rating and raised their price target for the company from $57.00 to $80.00 in a research note on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on Boston Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $74.00 price target on the stock. Finally, Truist Financial reduced their price target on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a research note on Tuesday, March 5th.

Insider Activity

In related news, EVP Raymond A. Ritchey sold 14,150 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were 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 through this link. Insiders own 1.35% of the company’s stock.

Institutional Trading of Boston Properties

Several hedge funds have recently added to or reduced their stakes in BXP. Norges Bank bought a new stake in shares of Boston Properties in the fourth quarter valued at approximately $890,848,000. Ameriprise Financial Inc. boosted its holdings in Boston Properties by 86.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,957,055 shares of the real estate investment trust’s stock valued at $112,977,000 after purchasing an additional 906,069 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Boston Properties in the 3rd quarter valued at $43,709,000. Centersquare Investment Management LLC boosted its holdings in Boston Properties by 30.9% in the 4th quarter. Centersquare Investment Management LLC now owns 1,986,707 shares of the real estate investment trust’s stock valued at $139,407,000 after purchasing an additional 468,950 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Boston Properties by 27.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,986,269 shares of the real estate investment trust’s stock worth $118,143,000 after purchasing an additional 429,587 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Boston Properties Stock Performance

Shares of NYSE BXP opened at $62.87 on Tuesday. 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 firm’s 50-day moving average price is $63.03 and its two-hundred day moving average price is $63.02. Boston Properties has a 52-week low of $46.80 and a 52-week high of $73.97. The stock has a market capitalization of $9.87 billion, a P/E ratio of 51.95 and a beta of 1.15.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.05). The company had revenue of $828.90 million during the quarter, compared to the consensus estimate of $811.59 million. Boston Properties had a return on equity of 2.32% and a net margin of 5.81%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the business posted $1.86 EPS. As a group, sell-side analysts forecast that Boston Properties will post 7.12 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.98 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.92 dividend on an annualized basis and a yield of 6.24%. Boston Properties’s payout ratio is currently 323.97%.

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.