Boston Properties (NYSE:BXP) Given New $69.00 Price Target at Evercore ISI

Boston Properties (NYSE:BXP) had its price target reduced by Evercore ISI from $73.00 to $69.00 in a research note released on Monday, Benzinga reports. Evercore ISI currently has an outperform rating on the real estate investment trust’s stock.

BXP has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Boston Properties in a research note on Tuesday, January 30th. They set a hold rating and a $74.00 target price on the stock. BMO Capital Markets cut their target price 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. Barclays dropped their price objective on shares of Boston Properties from $67.00 to $66.00 and set an equal weight rating for the company in a report on Wednesday, March 27th. StockNews.com cut Boston Properties from a hold rating to a sell rating in a report on Friday. Finally, Truist Financial dropped their price target on Boston Properties from $77.00 to $75.00 and set a hold rating for the company in a research note on Tuesday, March 5th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Boston Properties presently has an average rating of Hold and a consensus price target of $69.53.

Boston Properties Stock Performance

Shares of BXP stock opened at $61.56 on Monday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 5.40 and a current ratio of 4.77. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 50.46 and a beta of 1.15. Boston Properties has a one year low of $46.80 and a one year high of $73.97. The company’s 50-day moving average is $62.57 and its 200 day moving average is $63.17.

Boston Properties (NYSE:BXP) last released its quarterly earnings data 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 business had revenue of $839.44 million during the quarter, compared to the consensus estimate of $808.68 million. Boston Properties had a return on equity of 2.35% and a net margin of 5.81%. Boston Properties’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.73 earnings per share. Sell-side analysts expect that Boston Properties will post 7.07 EPS for the current fiscal year.

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date was Wednesday, March 27th. Boston Properties’s dividend payout ratio is currently 321.31%.

Insider Transactions at Boston Properties

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

Institutional Investors Weigh In On Boston Properties

Institutional investors have recently added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Boston Properties in the 4th quarter valued at about $29,000. Manchester Capital Management LLC grew its holdings in Boston Properties by 435.9% in the fourth quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 340 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of Boston Properties by 770.9% during the fourth quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 424 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Boston Properties during the 4th quarter valued at $34,000. Finally, Cambridge Trust Co. boosted its position in shares of Boston Properties by 80.1% in the 4th quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 250 shares in the last quarter. 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.