Piper Sandler Cuts Boston Properties (NYSE:BXP) Price Target to $85.00
Piper Sandler has lowered its price target for Boston Properties (NYSE:BXP) from $100.00 to $85.00 while maintaining an "overweight" rating. This new target suggests a potential upside of 34.90% from the previous close. Other analysts have also adjusted their ratings, with a consensus rating of "Hold" and an average target price of $79.83. Boston Properties opened at $63.01, with a 52-week range of $54.22 to $90.11. The company reported an EPS of $1.79 for the last quarter, exceeding estimates significantly.
Boston Properties (NYSE:BXP - Get Free Report) had its price objective reduced by Piper Sandler from $100.00 to $85.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. Piper Sandler's price objective suggests a potential upside of 34.90% from the company's previous close.
Get Boston Properties alerts:
- 5 top office REITs to buy now
A number of other equities analysts have also recently commented on BXP. Jefferies Financial Group assumed coverage on Boston Properties in a report on Monday, March 17th. They set a "buy" rating and a $78.00 price target for the company. Wells Fargo & Company lowered their price target on shares of Boston Properties from $88.00 to $80.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Scotiabank lowered their target price on Boston Properties from $85.00 to $83.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Barclays lowered their price objective on Boston Properties from $89.00 to $79.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. Finally, Wedbush cut shares of Boston Properties from a "hold" rating to a "strong sell" rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $79.83.
View Our Latest Analysis on BXP
Boston Properties Stock Performance
- Are Dividend-Paying Office REITs Finally Staging A Comeback?
BXP opened at $63.01 on Tuesday. The business's 50-day simple moving average is $67.14 and its 200 day simple moving average is $74.57. Boston Properties has a 52-week low of $54.22 and a 52-week high of $90.11. The company has a debt-to-equity ratio of 2.09, a quick ratio of 5.51 and a current ratio of 5.69. The firm has a market capitalization of $9.97 billion, a PE ratio of 628.71, a PEG ratio of 0.91 and a beta of 1.06.
Boston Properties (NYSE:BXP - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The real estate investment trust reported $1.79 EPS for the quarter, beating the consensus estimate of $0.51 by $1.28. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. As a group, sell-side analysts expect that Boston Properties will post 6.91 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, EVP Hilary J. Spann sold 12,379 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $72.02, for a total value of $891,535.58. Following the completion of the transaction, the executive vice president now owns 7,271 shares of the company's stock, valued at $523,657.42. This represents a 63.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Donna D. Garesche sold 2,143 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $67.87, for a total transaction of $145,445.41. The disclosure for this sale can be found here. 1.35% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Boston Properties
Several hedge funds have recently modified their holdings of BXP. Deutsche Bank AG raised its position in Boston Properties by 30.6% in the fourth quarter. Deutsche Bank AG now owns 949,603 shares of the real estate investment trust's stock valued at $70,612,000 after purchasing an additional 222,284 shares during the last quarter. Whittier Trust Co. boosted its position in Boston Properties by 3.5% during the 4th quarter. Whittier Trust Co. now owns 306,783 shares of the real estate investment trust's stock worth $22,812,000 after buying an additional 10,429 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its holdings in Boston Properties by 12.5% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 170,504 shares of the real estate investment trust's stock worth $12,679,000 after acquiring an additional 18,900 shares during the last quarter. Wealthfront Advisers LLC increased its position in Boston Properties 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 acquiring an additional 99,248 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Boston Properties by 7.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 144,123 shares of the real estate investment trust's stock valued at $10,717,000 after acquiring an additional 10,252 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.
About Boston Properties
(Get Free Report)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.
Read More
- Five stocks we like better than Boston Properties
- High Flyers: 3 Natural Gas Stocks for March 2022
- Congress! Who Traded What During the Tariff-Induced Meltdown
- How to Start Investing in Real Estate
- 2 Under-the-Radar Consumer Staples Stocks With Big Dividends
- How to Buy Cheap Stocks Step by Step
- NATO Deal Sparks 4% Jump in Palantir Stock—What’s Next?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Boston Properties Right Now?
Before you consider Boston Properties, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Boston Properties wasn't on the list.
While Boston Properties currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
