Boston Properties’ (BXP) Sector Perform Rating Reiterated at Scotiabank

Scotiabank reaffirmed their sector perform rating on shares of Boston Properties (NYSE:BXP) in a research note released on Thursday morning, MarketBeat Ratings reports. The firm currently has a $85.00 price target on the real estate investment trust’s stock.

Several other equities research analysts also recently weighed in on the company. StockNews.com downgraded Boston Properties from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Piper Sandler upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $78.00 to $105.00 in a research note on Wednesday, October 23rd. 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 research note on Monday, August 5th. Compass Point increased their price objective on shares of Boston Properties from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Truist Financial lifted their price objective on shares of Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Boston Properties presently has an average rating of “Hold” and an average price target of $80.23.

Boston Properties Trading Up 0.3 %

NYSE BXP opened at $82.90 on Thursday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 4.83 and a current ratio of 5.51. The firm has a market cap of $13.11 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 0.55 and a beta of 1.18. The firm has a 50 day simple moving average of $81.51 and a 200-day simple moving average of $70.40. Boston Properties has a one year low of $50.64 and a one year high of $90.11.

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 the consensus estimate of $1.81 by ($1.28). Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The business had revenue of $859.23 million during the quarter, compared to analysts’ expectations of $829.91 million. During the same period in the prior year, the business earned $1.86 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Boston Properties will post 7.1 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date was Monday, September 30th. Boston Properties’s dividend payout ratio (DPR) is currently 169.70%.

Insider Activity at Boston Properties

In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter V. Otteni sold 4,785 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Institutional Trading of Boston Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Earnest Partners LLC increased its holdings in shares of Boston Properties by 25.9% in the second quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock valued at $162,348,000 after purchasing an additional 542,610 shares during the period. Sei Investments Co. lifted its holdings in shares of Boston Properties by 32.9% during the second quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock worth $92,567,000 after purchasing an additional 371,946 shares during the period. Swedbank AB purchased a new position in Boston Properties in the 1st quarter valued at $16,729,000. Point72 Asset Management L.P. acquired a new position in Boston Properties in the 2nd quarter valued at $12,914,000. Finally, Russell Investments Group Ltd. raised its position in Boston Properties by 356.2% during the 1st quarter. Russell Investments Group Ltd. now owns 245,758 shares of the real estate investment trust’s stock worth $15,977,000 after buying an additional 191,883 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other 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.