JPMorgan Chase & Co. Cuts BXP (NYSE:BXP) Price Target to $82.00

BXP (NYSE:BXP) had its target price reduced by analysts at JPMorgan Chase & Co. from $83.00 to $82.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 22.72% from the company’s current price.

A number of other brokerages have also recently weighed in on BXP. UBS Group reduced their price objective on BXP from $74.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday. Weiss Ratings reissued a “sell (d+)” rating on shares of BXP in a research note on Monday, December 29th. LADENBURG THALM/SH SH started coverage on shares of BXP in a research note on Monday, October 13th. They issued a “buy” rating and a $85.00 target price for the company. New Street Research set a $85.00 price target on shares of BXP in a research note on Monday, October 13th. Finally, The Goldman Sachs Group set a $77.00 price target on shares of BXP and gave the stock a “neutral” rating in a report on Friday, October 17th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $78.30.

BXP Price Performance

NYSE:BXP traded down $0.09 during trading hours on Tuesday, hitting $66.82. 154,276 shares of the stock were exchanged, compared to its average volume of 1,444,259. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 2.26. BXP has a 52-week low of $54.22 and a 52-week high of $79.33. The company has a market cap of $10.59 billion, a P/E ratio of -52.63, a P/E/G ratio of 7.97 and a beta of 1.01. The firm’s fifty day moving average price is $69.84 and its 200 day moving average price is $70.60.

BXP (NYSE:BXP) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.02. The firm had revenue of $871.51 million during the quarter, compared to analysts’ expectations of $860.88 million. BXP had a negative net margin of 5.82% and a positive return on equity of 1.35%. BXP’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $1.81 earnings per share. BXP has set its FY 2025 guidance at 6.890-6.920 EPS. As a group, equities research analysts anticipate that BXP will post 6.91 EPS for the current fiscal year.

Insider Transactions at BXP

In other news, EVP Peter V. Otteni sold 4,136 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $72.65, for a total value of $300,480.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John J. Stroman sold 16,838 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $72.17, for a total value of $1,215,198.46. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 70,710 shares of company stock valued at $5,107,771. Insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On BXP

A number of institutional investors have recently made changes to their positions in the business. Truist Financial Corp raised its stake in BXP by 1.2% during the second quarter. Truist Financial Corp now owns 11,987 shares of the real estate investment trust’s stock worth $809,000 after acquiring an additional 145 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of BXP by 2.5% during the third quarter. Benjamin Edwards Inc. now owns 6,544 shares of the real estate investment trust’s stock valued at $487,000 after purchasing an additional 159 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of BXP by 2.5% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 6,476 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 160 shares during the period. CVA Family Office LLC lifted its holdings in shares of BXP by 12.4% in the 2nd quarter. CVA Family Office LLC now owns 2,055 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 226 shares during the last quarter. Finally, O ROURKE & COMPANY Inc boosted its position in BXP by 3.8% during the 3rd quarter. O ROURKE & COMPANY Inc now owns 6,147 shares of the real estate investment trust’s stock valued at $457,000 after purchasing an additional 226 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

About BXP

Boston Properties, Inc (NYSE: BXP) is a publicly traded real estate investment trust (REIT) specializing in the ownership, management, and development of Class A office properties across major U.S. markets. Headquartered in Boston, Massachusetts, the company’s portfolio comprises high-quality office buildings, mixed-use developments and select retail assets designed to serve leading corporations in key metropolitan areas.

Established in 1970 by Mortimer B. Zuckerman, Boston Properties has grown through disciplined acquisitions and strategic ground-up developments.