Citigroup Issues Pessimistic Forecast for BXP (NYSE:BXP) Stock Price

BXP (NYSE:BXP) had its price objective reduced by investment analysts at Citigroup from $70.00 to $68.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price objective indicates a potential upside of 6.73% from the stock’s current price.

BXP has been the topic of a number of other research reports. KeyCorp upgraded shares of BXP from a “sector weight” rating to an “overweight” rating and set a $80.00 price target on the stock in a research note on Thursday, December 4th. UBS Group decreased their target price on shares of BXP from $74.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Jefferies Financial Group upped their target price on shares of BXP from $79.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. LADENBURG THALM/SH SH started coverage on shares of BXP in a research report on Monday, October 13th. They set a “buy” rating and a $85.00 price target for the company. Finally, Wells Fargo & Company lowered their price objective on BXP from $77.00 to $74.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 25th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $77.05.

BXP Stock Performance

BXP stock opened at $63.71 on Tuesday. The company has a quick ratio of 4.50, a current ratio of 5.36 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $10.10 billion, a P/E ratio of -50.17, a PEG ratio of 2.66 and a beta of 1.01. The stock’s 50 day moving average is $68.04 and its 200 day moving average is $70.15. BXP has a twelve month low of $54.22 and a twelve month high of $79.33.

Insider Transactions at BXP

In other BXP news, EVP John J. Stroman sold 16,838 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $72.17, for a total transaction of $1,215,198.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Raymond A. Ritchey sold 36,314 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $72.18, for a total transaction of $2,621,144.52. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 70,710 shares of company stock valued at $5,107,771. 1.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Voya Investment Management LLC raised its position in BXP by 1.0% during the third quarter. Voya Investment Management LLC now owns 1,492,925 shares of the real estate investment trust’s stock valued at $110,835,000 after purchasing an additional 15,507 shares during the period. Swedbank AB boosted its holdings in shares of BXP by 13.9% in the 3rd quarter. Swedbank AB now owns 141,798 shares of the real estate investment trust’s stock worth $10,541,000 after purchasing an additional 17,253 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of BXP during the 2nd quarter valued at approximately $306,000. Daiwa Securities Group Inc. raised its holdings in BXP by 70.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,138,083 shares of the real estate investment trust’s stock valued at $76,787,000 after buying an additional 472,221 shares during the period. Finally, Nan Fung Trinity HK Ltd. raised its holdings in BXP by 94.9% during the 3rd quarter. Nan Fung Trinity HK Ltd. now owns 91,224 shares of the real estate investment trust’s stock valued at $6,782,000 after buying an additional 44,424 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

BXP Company Profile

Boston Properties, Inc (NYSE: BXP) is a publicly traded real estate investment trust (REIT) specializing in the ownership, management, and development of Class A office properties across major U.S. markets. Headquartered in Boston, Massachusetts, the company’s portfolio comprises high-quality office buildings, mixed-use developments and select retail assets designed to serve leading corporations in key metropolitan areas.

Established in 1970 by Mortimer B. Zuckerman, Boston Properties has grown through disciplined acquisitions and strategic ground-up developments.