Boston Properties’ (BXP) “Sector Perform” Rating Reaffirmed at Scotiabank

Scotiabank reiterated their sector perform rating on shares of Boston Properties (NYSE:BXP) in a report published on Thursday, MarketBeat reports. Scotiabank currently has a $85.00 price target on the real estate investment trust’s stock.

BXP has been the topic of a number of other research reports. Barclays raised their target price on shares of Boston Properties from $65.00 to $88.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Wedbush raised their target price on shares of Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Wells Fargo & Company boosted their price objective on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Finally, Piper Sandler upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $78.00 to $105.00 in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $80.23.

Boston Properties Trading Up 0.3 %

Shares of BXP traded up $0.28 during mid-day trading on Thursday, reaching $82.90. The company had a trading volume of 1,280,048 shares, compared to its average volume of 1,276,964. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 35.89, a price-to-earnings-growth ratio of 0.55 and a beta of 1.18. The firm has a fifty day simple moving average of $81.19 and a 200-day simple moving average of $70.16. Boston Properties has a fifty-two week low of $50.64 and a fifty-two week high of $90.11. The company has a current ratio of 5.51, a quick ratio of 4.83 and a debt-to-equity ratio of 2.01.

Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The business had revenue of $859.23 million during the quarter, compared to analysts’ expectations of $829.91 million. During the same period in the prior year, the business posted $1.86 EPS. The business’s revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that Boston Properties will post 7.1 EPS for the current fiscal year.

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.98 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.73%. Boston Properties’s dividend payout ratio (DPR) is presently 169.70%.

Insider Activity

In related news, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total transaction of $351,410.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total transaction of $351,410.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Raymond A. Ritchey sold 21,835 shares of the 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 disclosure for this sale can be found here. Company insiders own 1.35% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Boston Properties by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 23,568,962 shares of the real estate investment trust’s stock worth $1,539,289,000 after purchasing an additional 122,583 shares during the last quarter. Earnest Partners LLC grew its position in Boston Properties by 25.9% in the 2nd quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock worth $162,348,000 after purchasing an additional 542,610 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Boston Properties by 6.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,923,225 shares of the real estate investment trust’s stock worth $118,394,000 after purchasing an additional 120,650 shares during the last quarter. Sei Investments Co. grew its position in Boston Properties by 32.9% in the 2nd quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock worth $92,567,000 after purchasing an additional 371,946 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Boston Properties by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,248,824 shares of the real estate investment trust’s stock worth $76,878,000 after purchasing an additional 38,048 shares during 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.