Piper Sandler Cuts Boston Properties (NYSE:BXP) Price Target to $100.00

Boston Properties (NYSE:BXPGet Free Report) had its price target decreased by equities research analysts at Piper Sandler from $105.00 to $100.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price target suggests a potential upside of 44.88% from the stock’s current price.

Several other research analysts have also commented on BXP. StockNews.com lowered Boston Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. UBS Group upped their price target on shares of Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Compass Point raised shares of Boston Properties from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $88.00 in a research report on Thursday, November 14th. Wedbush raised shares of Boston Properties from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, Jefferies Financial Group lowered their price target on Boston Properties from $93.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Boston Properties presently has a consensus rating of “Hold” and an average target price of $81.64.

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Boston Properties Stock Down 5.7 %

Boston Properties stock opened at $69.02 on Thursday. The stock has a market cap of $10.91 billion, a PE ratio of 29.88, a P/E/G ratio of 0.50 and a beta of 1.18. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 and a quick ratio of 5.51. The stock’s fifty day moving average is $76.27 and its two-hundred day moving average is $76.70. Boston Properties has a 1-year low of $56.46 and a 1-year high of $90.11.

Boston Properties (NYSE:BXPGet Free Report) last released its quarterly earnings data on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $1.28. Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. On average, sell-side analysts expect that Boston Properties will post 7.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Whittier Trust Co. grew its stake in Boston Properties by 4.2% in the 3rd quarter. Whittier Trust Co. now owns 296,354 shares of the real estate investment trust’s stock valued at $23,844,000 after acquiring an additional 12,018 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Boston Properties by 2.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 133,871 shares of the real estate investment trust’s stock worth $10,771,000 after purchasing an additional 3,502 shares in the last quarter. Sun Life Financial Inc. purchased a new position in shares of Boston Properties during the 3rd quarter worth approximately $9,674,000. Raymond James & Associates raised its position in shares of Boston Properties by 11.9% during the 3rd quarter. Raymond James & Associates now owns 110,587 shares of the real estate investment trust’s stock worth $8,898,000 after purchasing an additional 11,752 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Boston Properties by 1.7% in the 4th quarter. Van ECK Associates Corp now owns 70,444 shares of the real estate investment trust’s stock valued at $5,238,000 after buying an additional 1,169 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

About Boston Properties

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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.

Further Reading

Analyst Recommendations for Boston Properties (NYSE:BXP)

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