Boston Properties (NYSE:BXP) Price Target Cut to $68.00 by Analysts at UBS Group

Boston Properties (NYSE:BXP) had its price target cut by research analysts at UBS Group from $80.00 to $68.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s target price indicates a potential upside of 6.18% from the company’s current price.

BXP has been the subject of several other research reports. Mizuho reduced their target price on shares of Boston Properties from $92.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Barclays decreased their price objective on shares of Boston Properties from $89.00 to $79.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Piper Sandler cut their target price on Boston Properties from $100.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Scotiabank decreased their price target on Boston Properties from $85.00 to $83.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Finally, Jefferies Financial Group initiated coverage on Boston Properties in a research report on Monday, March 17th. They issued a “buy” rating and a $78.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $78.83.

Boston Properties Trading Down 1.1 %

BXP opened at $64.05 on Monday. Boston Properties has a fifty-two week low of $54.22 and a fifty-two week high of $90.11. The firm has a market capitalization of $10.14 billion, a PE ratio of 640.51, a P/E/G ratio of 0.91 and a beta of 1.12. The company has a debt-to-equity ratio of 2.09, a current ratio of 5.69 and a quick ratio of 5.51. The company’s 50-day moving average is $65.18 and its 200 day moving average is $72.57.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.64 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.01). The company had revenue of $865.22 million during the quarter, compared to analysts’ expectations of $833.89 million. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $1.73 earnings per share. As a group, research analysts predict that Boston Properties will post 6.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, EVP Donna D. Garesche sold 2,143 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $67.87, for a total transaction of $145,445.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On Boston Properties

A number of large investors have recently made changes to their positions in BXP. Brooklyn Investment Group lifted its holdings in Boston Properties by 19.8% during the 4th quarter. Brooklyn Investment Group now owns 858 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 142 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Boston Properties by 1.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 8,731 shares of the real estate investment trust’s stock worth $650,000 after buying an additional 156 shares in the last quarter. Huntington National Bank boosted its position in shares of Boston Properties by 29.8% in the fourth quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 263 shares during the period. Canada Post Corp Registered Pension Plan bought a new position in shares of Boston Properties in the fourth quarter valued at approximately $32,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Boston Properties by 4.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 11,215 shares of the real estate investment trust’s stock valued at $754,000 after acquiring an additional 441 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

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.