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

Boston Properties (NYSE:BXP) 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.

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:BXP) 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

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.