Boston Properties (NYSE:BXP) Price Target Cut to $83.00 by Analysts at Robert W. Baird

Boston Properties (NYSE:BXPGet Rating) had its price target dropped by Robert W. Baird from $105.00 to $83.00 in a note issued to investors on Friday, The Fly reports. Robert W. Baird’s price target indicates a potential upside of 6.63% from the stock’s current price.

Several other research analysts also recently issued reports on the company. TheStreet downgraded Boston Properties from a “b-” rating to a “c+” rating in a research note on Tuesday, September 6th. Morgan Stanley cut their price target on Boston Properties from $80.00 to $78.00 and set an “equal weight” rating for the company in a research note on Friday, September 9th. Mizuho cut their price target on Boston Properties from $135.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, July 6th. Truist Financial cut their price target on Boston Properties from $105.00 to $102.00 and set a “hold” rating for the company in a research note on Wednesday, September 14th. Finally, StockNews.com raised shares of Boston Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. 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. Based on data from MarketBeat, Boston Properties presently has an average rating of “Hold” and a consensus target price of $98.87.

Boston Properties Price Performance

Shares of NYSE BXP opened at $77.84 on Friday. The firm has a market capitalization of $12.20 billion, a P/E ratio of 18.53, a PEG ratio of 1.79 and a beta of 1.14. Boston Properties has a one year low of $75.91 and a one year high of $133.11. The company’s fifty day moving average is $85.39 and its two-hundred day moving average is $102.49. The company has a debt-to-equity ratio of 1.71, a quick ratio of 4.35 and a current ratio of 4.35.

Boston Properties (NYSE:BXPGet Rating) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $0.78 by $0.64. Boston Properties had a net margin of 22.04% and a return on equity of 8.17%. During the same quarter last year, the company posted $1.72 EPS. Analysts forecast that Boston Properties will post 7.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Properties news, EVP Raymond A. Ritchey sold 22,472 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $89.96, for a total value of $2,021,581.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boston Properties

Large investors have recently added to or reduced their stakes in the stock. Brown Advisory Inc. grew its stake in shares of Boston Properties by 22.6% in the second quarter. Brown Advisory Inc. now owns 13,842 shares of the real estate investment trust’s stock worth $1,231,000 after purchasing an additional 2,548 shares in the last quarter. Royal London Asset Management Ltd. boosted its stake in Boston Properties by 11.6% during the second quarter. Royal London Asset Management Ltd. now owns 71,635 shares of the real estate investment trust’s stock valued at $6,377,000 after buying an additional 7,418 shares in the last quarter. Verition Fund Management LLC bought a new position in Boston Properties during the second quarter valued at about $618,000. Captrust Financial Advisors bought a new position in Boston Properties during the second quarter valued at about $867,000. Finally, Legal & General Group Plc boosted its stake in Boston Properties by 2.1% during the second quarter. Legal & General Group Plc now owns 2,094,661 shares of the real estate investment trust’s stock valued at $186,383,000 after buying an additional 42,745 shares in the last quarter. 92.47% of the stock is owned by institutional investors and hedge funds.

About Boston Properties

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Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.

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