Piper Sandler Has Lowered Expectations for BXP (NYSE:BXP) Stock Price

BXP (NYSE:BXP) had its price objective dropped by stock analysts at Piper Sandler from $87.00 to $75.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price target suggests a potential upside of 44.86% from the company’s previous close.

A number of other research firms have also commented on BXP. Evercore dropped their price objective on BXP from $76.00 to $73.00 and set an “in-line” rating on the stock in a research note on Thursday, January 29th. Barclays decreased their target price on BXP from $81.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Scotiabank dropped their price target on BXP from $74.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $79.00 price target on shares of BXP in a report on Thursday, January 29th. Finally, The Goldman Sachs Group set a $72.00 price objective on BXP in a research report on Wednesday, February 4th. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $74.10.

BXP Stock Performance

NYSE:BXP opened at $51.78 on Wednesday. BXP has a 1 year low of $49.72 and a 1 year high of $79.33. The firm’s fifty day simple moving average is $57.97 and its 200 day simple moving average is $66.50. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $8.21 billion, a PE ratio of 29.76, a PEG ratio of 2.17 and a beta of 1.03.

Insider Buying and Selling

In other news, CEO Owen D. Thomas sold 1,198 shares of BXP stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $61.22, for a total transaction of $73,341.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Hilary J. Spann sold 5,495 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $59.69, for a total value of $327,996.55. Following the sale, the executive vice president owned 17,832 shares in the company, valued at approximately $1,064,392.08. This represents a 23.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,887 shares of company stock valued at $476,930 in the last quarter. Corporate insiders own 1.49% of the company’s stock.

Hedge Funds Weigh In On BXP

A number of hedge funds have recently made changes to their positions in the business. Loomis Sayles & Co. L P acquired a new stake in shares of BXP during the 2nd quarter valued at about $25,000. Muzinich & Co. Inc. acquired a new position in BXP in the third quarter worth about $27,000. Elyxium Wealth LLC bought a new position in BXP during the fourth quarter worth about $25,000. Princeton Global Asset Management LLC lifted its stake in BXP by 892.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 397 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 357 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in BXP during the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

About BXP

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.