Boston Properties’ (BXP) Sector Perform Rating Reaffirmed at Scotiabank

Boston Properties (NYSE:BXP)‘s stock had its “sector perform” rating reissued by equities researchers at Scotiabank in a report issued on Thursday, Marketbeat Ratings reports. They presently have a $85.00 price objective on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 5.00% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Barclays boosted their target price on Boston Properties from $65.00 to $88.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Compass Point upped their price objective on Boston Properties from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. UBS Group upped their price objective on Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday. Truist Financial upped their price objective on Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Finally, StockNews.com cut Boston Properties from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Boston Properties currently has an average rating of “Hold” and an average target price of $80.23.

Boston Properties Stock Performance

Boston Properties stock opened at $80.95 on Thursday. The stock has a 50-day simple moving average of $81.19 and a 200 day simple moving average of $70.16. The company has a quick ratio of 4.83, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. The stock has a market capitalization of $12.71 billion, a price-to-earnings ratio of 35.04, a P/E/G ratio of 0.54 and a beta of 1.18. Boston Properties has a 12-month low of $50.64 and a 12-month high of $90.11.

Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.28). The company had revenue of $859.23 million for the quarter, compared to analyst estimates of $829.91 million. Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. Boston Properties’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.86 earnings per share. On average, research analysts anticipate that Boston Properties will post 7.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.25, for a total transaction of $1,621,248.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Institutional Trading of Boston Properties

Several institutional investors and hedge funds have recently modified their holdings of the business. Crossmark Global Holdings Inc. lifted its position in shares of Boston Properties by 9.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,575 shares of the real estate investment trust’s stock worth $690,000 after buying an additional 763 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Boston Properties by 12.0% during the 3rd quarter. Van ECK Associates Corp now owns 69,275 shares of the real estate investment trust’s stock worth $6,024,000 after buying an additional 7,447 shares during the last quarter. Sun Life Financial Inc. bought a new stake in shares of Boston Properties during the 3rd quarter worth $9,674,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Boston Properties by 2.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 133,871 shares of the real estate investment trust’s stock worth $10,771,000 after buying an additional 3,502 shares during the last quarter. Finally, Whittier Trust Co. lifted its position in shares of Boston Properties by 4.2% during the 3rd quarter. Whittier Trust Co. now owns 296,354 shares of the real estate investment trust’s stock worth $23,844,000 after buying an additional 12,018 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

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.