Truist Financial Forecasts Strong Price Appreciation for Boston Properties (NYSE:BXP) Stock

Boston Properties (NYSE:BXP) had its target price hoisted by equities research analysts at Truist Financial from $77.00 to $83.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price suggests a potential upside of 3.56% from the company’s current price.

Several other brokerages have also recently weighed in on BXP. Barclays lifted their price objective on shares of Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. UBS Group boosted their price target on Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Scotiabank reaffirmed a “sector perform” rating and issued a $85.00 price objective on shares of Boston Properties in a report on Thursday, November 7th. Finally, Evercore ISI increased their target price on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Boston Properties has an average rating of “Hold” and an average target price of $81.38.

Boston Properties Trading Down 0.9 %

Shares of NYSE:BXP opened at $80.15 on Wednesday. Boston Properties has a 12-month low of $56.46 and a 12-month high of $90.11. The business has a 50 day moving average of $82.38 and a 200-day moving average of $72.75. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. The stock has a market cap of $12.67 billion, a PE ratio of 34.70, a P/E/G ratio of 0.55 and a beta of 1.17.

Boston Properties (NYSE:BXP) last released its quarterly 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 firm had revenue of $859.23 million during the quarter, compared to the consensus estimate of $829.91 million. Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 earnings per share. As a group, equities research analysts forecast that Boston Properties will post 7.1 earnings per share for the current year.

Insider Activity

In related news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On Boston Properties

Large investors have recently modified their holdings of the business. SG Americas Securities LLC increased its stake in shares of Boston Properties by 76.8% in the second quarter. SG Americas Securities LLC now owns 110,242 shares of the real estate investment trust’s stock valued at $6,786,000 after buying an additional 47,882 shares during the period. Cetera Investment Advisers increased its position in Boston Properties by 112.1% during the 1st quarter. Cetera Investment Advisers now owns 38,725 shares of the real estate investment trust’s stock valued at $2,529,000 after purchasing an additional 20,468 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Boston Properties by 61.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,578 shares of the real estate investment trust’s stock worth $1,759,000 after purchasing an additional 10,928 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of Boston Properties in the 1st quarter worth approximately $281,000. Finally, Raymond James & Associates boosted its stake in shares of Boston Properties by 47.1% in the 2nd quarter. Raymond James & Associates now owns 98,835 shares of the real estate investment trust’s stock valued at $6,084,000 after purchasing an additional 31,636 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Boston Properties Company Profile

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.