Boston Properties (NYSE:BXP) Price Target Raised to $70.00 at Wedbush

Boston Properties (NYSE:BXP) had its price target hoisted by Wedbush from $63.00 to $70.00 in a report released on Monday morning, Benzinga reports. Wedbush currently has a neutral rating on the real estate investment trust’s stock. Wedbush also issued estimates for Boston Properties’ FY2025 earnings at $7.29 EPS.

BXP has been the topic of several other reports. StockNews.com downgraded Boston Properties from a hold rating to a sell rating in a report on Wednesday, July 31st. Morgan Stanley reiterated an equal weight rating and set a $62.00 target price on shares of Boston Properties in a report on Thursday, June 20th. BMO Capital Markets dropped their target price on Boston Properties from $80.00 to $78.00 and set an outperform rating on the stock in a report on Monday, April 8th. Barclays dropped their target price on Boston Properties from $66.00 to $65.00 and set an equal weight rating on the stock in a report on Friday, May 24th. Finally, Truist Financial dropped their target price on Boston Properties from $75.00 to $67.00 and set a hold rating on the stock in a report on Friday, June 14th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $70.07.

Boston Properties Trading Up 4.1 %

Shares of Boston Properties stock traded up $2.70 during trading hours on Monday, reaching $68.35. The stock had a trading volume of 1,643,457 shares, compared to its average volume of 1,346,713. The firm has a 50 day simple moving average of $63.48 and a two-hundred day simple moving average of $63.57. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 56.63, a P/E/G ratio of 0.46 and a beta of 1.18. The company has a current ratio of 4.83, a quick ratio of 4.77 and a debt-to-equity ratio of 1.90. Boston Properties has a 1 year low of $50.64 and a 1 year high of $73.97.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The firm had revenue of $850.48 million during the quarter, compared to analysts’ expectations of $819.49 million. Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.86 earnings per share. As a group, equities research analysts anticipate that Boston Properties will post 7.12 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend was Friday, June 28th. Boston Properties’s dividend payout ratio (DPR) is 321.31%.

Institutional Trading of Boston Properties

Several hedge funds have recently added to or reduced their stakes in BXP. Manchester Capital Management LLC raised its stake in Boston Properties by 435.9% during the 4th quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 340 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Boston Properties during the 4th quarter valued at $34,000. Cambridge Trust Co. raised its stake in Boston Properties by 80.1% during the 4th quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 250 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Boston Properties by 115.5% in the 2nd quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 380 shares in the last quarter. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Boston Properties by 59.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 395 shares in the last quarter. 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.