Boston Properties (NYSE:BXP) PT Raised to $84.00 at Evercore ISI

Boston Properties (NYSE:BXP) had its price objective upped by Evercore ISI from $77.00 to $84.00 in a research report released on Monday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the real estate investment trust’s stock.

A number of other research analysts also recently weighed in on BXP. Morgan Stanley reiterated an equal weight rating and issued a $62.00 price objective on shares of Boston Properties in a research report on Thursday, June 20th. Truist Financial increased their price target on Boston Properties from $67.00 to $77.00 and gave the stock a hold rating in a research report on Tuesday, August 27th. Piper Sandler boosted their price objective on Boston Properties from $70.00 to $78.00 and gave the company a neutral rating in a research report on Tuesday, September 3rd. Barclays decreased their target price on Boston Properties from $66.00 to $65.00 and set an equal weight rating on the stock in a research report on Friday, May 24th. Finally, StockNews.com raised shares of Boston Properties from a sell rating to a hold rating in a report on Thursday, August 8th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $74.08.

Boston Properties Stock Up 1.3 %

Boston Properties stock opened at $82.31 on Monday. The business’s 50-day moving average price is $71.94 and its 200 day moving average price is $65.26. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90. The firm has a market cap of $12.93 billion, a price-to-earnings ratio of 67.47, a price-to-earnings-growth ratio of 0.35 and a beta of 1.18. Boston Properties has a 52 week low of $50.64 and a 52 week high of $83.85.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The firm had revenue of $850.48 million for the quarter, compared to analyst estimates of $819.49 million. During the same period in the previous year, the business earned $1.86 EPS. Boston Properties’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boston Properties will post 7.11 earnings per share for the current year.

Boston Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend is Monday, September 30th. Boston Properties’s dividend payout ratio (DPR) is 321.31%.

Insider Transactions at Boston Properties

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raymond A. Ritchey sold 21,835 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Institutional Investors Weigh In On Boston Properties

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Boston Properties by 212.1% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 386 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Boston Properties during the second quarter worth $1,114,000. Point72 Asset Management L.P. acquired a new stake in Boston Properties during the second quarter worth $12,914,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Boston Properties by 61.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 547 shares during the last quarter. Finally, Creative Planning lifted its stake in shares of Boston Properties by 7.7% in the 2nd quarter. Creative Planning now owns 25,570 shares of the real estate investment trust’s stock valued at $1,574,000 after purchasing an additional 1,835 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.