Boston Properties (NYSE:BXP) PT Lowered to $69.00

Boston Properties (NYSE:BXP) had its price target cut by stock analysts at Evercore ISI from $73.00 to $69.00 in a report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s price target suggests a potential upside of 13.37% from the company’s current price.

A number of other equities analysts also recently issued reports on BXP. Deutsche Bank Aktiengesellschaft assumed coverage on Boston Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 price target for the company. BMO Capital Markets decreased their price objective on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. StockNews.com downgraded Boston Properties from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Wedbush cut their price target on Boston Properties from $66.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Finally, Barclays lowered their target price on shares of Boston Properties from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Boston Properties has an average rating of “Hold” and a consensus target price of $69.53.

Boston Properties Trading Down 1.2 %

BXP opened at $60.86 on Monday. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.77 and a quick ratio of 5.40. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 49.89 and a beta of 1.15. The business has a fifty day moving average price of $62.49 and a 200 day moving average price of $63.22. Boston Properties has a 12 month low of $46.80 and a 12 month high of $73.97.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.22). The firm had revenue of $839.44 million for the quarter, compared to analyst estimates of $808.68 million. Boston Properties had a return on equity of 2.35% and a net margin of 5.81%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 EPS. Sell-side analysts expect that Boston Properties will post 7.07 earnings per share for the current fiscal year.

Insider Transactions at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total value of $889,186.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.35% of the company’s stock.

Institutional Trading of Boston Properties

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in Boston Properties by 4.2% in the third quarter. Bank of New York Mellon Corp now owns 1,358,781 shares of the real estate investment trust’s stock worth $80,820,000 after purchasing an additional 55,209 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Boston Properties by 2.8% during the 3rd quarter. New York State Teachers Retirement System now owns 156,664 shares of the real estate investment trust’s stock worth $9,318,000 after purchasing an additional 4,290 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Boston Properties by 13.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 154,366 shares of the real estate investment trust’s stock worth $9,182,000 after purchasing an additional 18,724 shares during the last quarter. Strs Ohio lifted its holdings in shares of Boston Properties by 83.6% in the 3rd quarter. Strs Ohio now owns 433,372 shares of the real estate investment trust’s stock worth $25,776,000 after purchasing an additional 197,300 shares during the last quarter. Finally, Advisor Partners II LLC boosted its position in Boston Properties by 33.1% during the 3rd quarter. Advisor Partners II LLC now owns 5,327 shares of the real estate investment trust’s stock valued at $317,000 after purchasing an additional 1,325 shares during the period. Hedge funds and other 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.