Truist Financial Raises Boston Properties (NYSE:BXP) Price Target to $77.00

Boston Properties (NYSE:BXP) had its price target raised by Truist Financial from $67.00 to $77.00 in a research note released on Tuesday, Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

BXP has been the subject of a number of other research reports. Barclays dropped their target price on shares of Boston Properties from $66.00 to $65.00 and set an equal weight rating for the company in a report on Friday, May 24th. Wedbush boosted their price target on shares of Boston Properties from $63.00 to $70.00 and gave the company a neutral rating in a research report on Monday, August 5th. StockNews.com raised shares of Boston Properties from a sell rating to a hold rating in a research report on Thursday, August 8th. Scotiabank boosted their price target on shares of Boston Properties from $74.00 to $76.00 and gave the company a sector outperform rating in a research report on Wednesday, August 7th. Finally, Evercore ISI lowered their price target on shares of Boston Properties from $73.00 to $69.00 and set an outperform rating on the stock in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $71.92.

Boston Properties Price Performance

Boston Properties stock opened at $74.40 on Tuesday. Boston Properties has a 52-week low of $50.64 and a 52-week high of $74.91. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 60.98, a PEG ratio of 0.46 and a beta of 1.18. The company has a fifty day simple moving average of $67.00 and a 200-day simple moving average of $63.94. The company has a quick ratio of 4.77, a current ratio of 4.83 and a debt-to-equity ratio of 1.90.

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

Boston Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a $0.98 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.92 dividend on an annualized basis and a yield of 5.27%. Boston Properties’s payout ratio is currently 321.31%.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Boston Properties

Several hedge funds have recently made changes to their positions in BXP. Vanguard Personalized Indexing Management LLC increased its stake in Boston Properties by 0.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,479 shares of the real estate investment trust’s stock valued at $1,261,000 after purchasing an additional 150 shares during the last quarter. Ieq Capital LLC increased its stake in Boston Properties by 1.5% in the fourth quarter. Ieq Capital LLC now owns 11,184 shares of the real estate investment trust’s stock valued at $785,000 after purchasing an additional 164 shares during the last quarter. Mystic Asset Management Inc. increased its stake in Boston Properties by 3.1% in the second quarter. Mystic Asset Management Inc. now owns 5,541 shares of the real estate investment trust’s stock valued at $341,000 after purchasing an additional 165 shares during the last quarter. Signaturefd LLC increased its stake in Boston Properties by 2.6% in the second quarter. Signaturefd LLC now owns 6,597 shares of the real estate investment trust’s stock valued at $406,000 after purchasing an additional 168 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Boston Properties by 0.3% in the second quarter. Daiwa Securities Group Inc. now owns 63,629 shares of the real estate investment trust’s stock valued at $3,917,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Boston Properties Company Profile

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.