Evercore ISI Increases Boston Properties (NYSE:BXP) Price Target to $84.00

Boston Properties (NYSE:BXP) had its price objective increased by Evercore ISI from $77.00 to $84.00 in a research note published on Monday, Benzinga reports. Evercore ISI currently has an outperform rating on the real estate investment trust’s stock.

Several other analysts also recently weighed in on BXP. Barclays decreased their price target on shares of Boston Properties from $66.00 to $65.00 and set an equal weight rating for the company in a research note on Friday, May 24th. Wells Fargo & Company increased their price target on Boston Properties from $73.00 to $80.00 and gave the stock an overweight rating in a research report on Wednesday, September 11th. StockNews.com upgraded Boston Properties from a sell rating to a hold rating in a report on Thursday, August 8th. 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. Finally, Scotiabank boosted their price target on shares of Boston Properties from $76.00 to $82.00 and gave the company a sector outperform rating in a report on Wednesday, September 11th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $74.08.

Boston Properties Trading Up 1.3 %

Shares of NYSE BXP opened at $82.31 on Monday. Boston Properties has a fifty-two week low of $50.64 and a fifty-two week high of $83.85. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83. The company has a market cap of $12.93 billion, a price-to-earnings ratio of 67.47, a PEG ratio of 0.35 and a beta of 1.18. The business’s 50 day moving average price is $71.94 and its 200-day moving average price is $65.26.

Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The business 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.86 EPS. On average, sell-side analysts expect that Boston Properties will post 7.11 earnings per share for the current year.

Boston Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 annualized dividend and a dividend yield of 4.76%. Boston Properties’s dividend payout ratio is presently 321.31%.

Insider Transactions at Boston Properties

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $74.25, for a total transaction of $1,621,248.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Peter V. Otteni sold 4,785 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $73.44, for a total transaction of $351,410.40. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On Boston Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXP. Point72 Asia Singapore Pte. Ltd. grew its stake in Boston Properties by 212.1% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 386 shares during the last quarter. UMB Bank n.a. increased its holdings in 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 during the period. Abich Financial Wealth Management LLC increased its holdings in 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 during the period. Principal Securities Inc. purchased a new position in Boston Properties during the 4th quarter worth approximately $93,000. Finally, Sound Income Strategies LLC lifted its stake in Boston Properties by 198.1% during the 1st quarter. Sound Income Strategies LLC now owns 1,428 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 949 shares during the period. Hedge funds and other institutional investors 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.