Boston Properties (NYSE:BXP) Price Target Raised to $72.00

Posted by Defense World Staff on Aug 20th, 2023

Boston Properties (NYSE:BXP – Free Report) had its target price upped by Evercore ISI from $67.00 to $72.00 in a report released on Wednesday, MarketBeat reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on BXP. The Goldman Sachs Group boosted their price objective on Boston Properties from $56.00 to $64.00 and gave the company a neutral rating in a research report on Friday, August 11th. Wells Fargo & Company increased their price objective on shares of Boston Properties from $64.00 to $80.00 and gave the stock an overweight rating in a report on Wednesday, August 9th. Truist Financial reduced their target price on shares of Boston Properties from $86.00 to $75.00 in a research note on Thursday, July 6th. Barclays raised their price target on shares of Boston Properties from $57.00 to $58.00 in a research note on Wednesday, June 14th. Finally, StockNews.com lowered Boston Properties from a hold rating to a sell rating in a report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Boston Properties presently has an average rating of Hold and a consensus target price of $72.05.

Get Our Latest Analysis on Boston Properties

Boston Properties Stock Performance

Shares of BXP stock opened at $63.30 on Wednesday. The company has a quick ratio of 5.76, a current ratio of 5.76 and a debt-to-equity ratio of 1.90. The business has a 50 day moving average of $61.15 and a two-hundred day moving average of $58.25. The company has a market cap of $9.93 billion, a P/E ratio of 14.96, a PEG ratio of 5.48 and a beta of 1.14. Boston Properties has a 52 week low of $46.18 and a 52 week high of $87.61.

Boston Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 6.19%. The ex-dividend date of this dividend was Thursday, June 29th. Boston Properties’s dividend payout ratio (DPR) is presently 92.67%.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, Director Carol B. Einiger bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average cost of $47.41 per share, for a total transaction of $474,100.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $474,100. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Properties

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Boston Properties by 1.8% during the first quarter. Vanguard Group Inc. now owns 23,383,095 shares of the real estate investment trust’s stock valued at $3,011,742,000 after purchasing an additional 404,123 shares during the last quarter. BlackRock Inc. lifted its stake in Boston Properties by 0.5% during the second quarter. BlackRock Inc. now owns 18,399,649 shares of the real estate investment trust’s stock valued at $1,059,636,000 after buying an additional 100,495 shares in the last quarter. Norges Bank acquired a new position in shares of Boston Properties in the fourth quarter worth about $857,967,000. State Street Corp increased its position in shares of Boston Properties by 1.3% in the second quarter. State Street Corp now owns 11,765,331 shares of the real estate investment trust’s stock worth $688,767,000 after acquiring an additional 151,276 shares in the last quarter. Finally, APG Asset Management US Inc. raised its holdings in shares of Boston Properties by 2.2% during the second quarter. APG Asset Management US Inc. now owns 7,525,913 shares of the real estate investment trust’s stock valued at $433,417,000 after acquiring an additional 164,726 shares during the period. 91.28% of the stock is owned by institutional investors.

Boston Properties Company Profile

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BXP (NYSE: BXP) 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.