BMO Capital Markets Reiterates Outperform Rating for BXP (NYSE:BXP)

BXP (NYSE:BXP)‘s stock had its “outperform” rating reiterated by stock analysts at BMO Capital Markets in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They presently have a $86.00 target price on the real estate investment trust’s stock, up from their previous target price of $85.00. BMO Capital Markets’ target price indicates a potential upside of 28.94% from the stock’s current price.

A number of other research firms have also issued reports on BXP. UBS Group lowered their target price on BXP from $80.00 to $68.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. Barclays reduced their price objective on shares of BXP from $89.00 to $79.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Jefferies Financial Group began coverage on shares of BXP in a report on Monday, March 17th. They issued a “buy” rating and a $78.00 target price on the stock. Piper Sandler cut their target price on shares of BXP from $100.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. raised BXP from an “underweight” rating to a “neutral” rating and upped their price target for the company from $72.00 to $78.00 in a report on Monday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $79.54.

BXP Stock Down 5.2%

BXP stock opened at $66.70 on Monday. The firm’s 50-day moving average is $67.66 and its two-hundred day moving average is $69.36. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of -3,333.33, a price-to-earnings-growth ratio of 5.75 and a beta of 1.16. BXP has a 52 week low of $54.22 and a 52 week high of $90.11. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 2.04.

BXP (NYSE:BXP) last announced its earnings results 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 firm had revenue of $865.22 million for the quarter, compared to the consensus estimate of $833.89 million. BXP had a positive return on equity of 3.72% and a negative net margin of 0.16%. BXP’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. On average, analysts forecast that BXP will post 6.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BXP

Several hedge funds have recently bought and sold shares of BXP. Deutsche Bank AG grew its stake in BXP by 30.6% during the 4th quarter. Deutsche Bank AG now owns 949,603 shares of the real estate investment trust’s stock valued at $70,612,000 after acquiring an additional 222,284 shares in the last quarter. Nuveen LLC acquired a new stake in shares of BXP during the first quarter worth approximately $14,737,000. Raymond James Financial Inc. purchased a new position in BXP during the fourth quarter valued at approximately $8,994,000. Wealthfront Advisers LLC increased its stake in BXP by 198.9% in the 4th quarter. Wealthfront Advisers LLC now owns 149,156 shares of the real estate investment trust’s stock valued at $11,091,000 after buying an additional 99,248 shares during the period. Finally, Tredje AP fonden increased its stake in BXP by 801.4% in the 1st quarter. Tredje AP fonden now owns 107,921 shares of the real estate investment trust’s stock valued at $7,251,000 after buying an additional 95,948 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

About BXP

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.