BXP (NYSE:BXP) Price Target Lowered to $66.00 at Barclays

BXP (NYSE:BXP) had its target price decreased by Barclays from $81.00 to $66.00 in a research note issued to investors on Thursday,Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

BXP has been the topic of several other reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $70.00 price objective on shares of BXP in a report on Tuesday, January 6th. Royal Bank Of Canada raised shares of BXP to an “outperform” rating in a research note on Thursday, December 4th. Evercore cut their price target on shares of BXP from $76.00 to $73.00 and set an “in-line” rating for the company in a report on Thursday, January 29th. The Goldman Sachs Group set a $72.00 price objective on shares of BXP in a report on Wednesday, February 4th. Finally, Scotiabank dropped their target price on shares of BXP from $81.00 to $74.00 and set a “sector performer” rating on the stock in a research report on Wednesday, January 14th. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.45.

BXP Stock Up 1.5%

BXP stock opened at $61.20 on Thursday. BXP has a one year low of $54.22 and a one year high of $79.33. The company has a debt-to-equity ratio of 2.21, a quick ratio of 4.50 and a current ratio of 5.36. The firm’s fifty day moving average is $65.19 and its 200 day moving average is $69.46. The firm has a market cap of $9.70 billion, a PE ratio of 35.17, a P/E/G ratio of 2.57 and a beta of 1.01.

BXP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.6%. BXP’s dividend payout ratio is presently 160.92%.

Insider Activity

In other news, EVP Raymond A. Ritchey sold 36,314 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $72.18, for a total value of $2,621,144.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Hilary J. Spann sold 1,194 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $63.31, for a total transaction of $75,592.14. Following the sale, the executive vice president directly owned 17,832 shares of the company’s stock, valued at approximately $1,128,943.92. This represents a 6.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,706 shares of company stock worth $2,770,078 over the last three months. Insiders own 1.49% of the company’s stock.

Institutional Investors Weigh In On BXP

A number of large investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in BXP during the fourth quarter worth $532,000. Compound Planning Inc. raised its holdings in shares of BXP by 6.8% during the 4th quarter. Compound Planning Inc. now owns 3,978 shares of the real estate investment trust’s stock worth $268,000 after acquiring an additional 253 shares during the period. Invesco Ltd. boosted its position in shares of BXP by 5.2% during the 4th quarter. Invesco Ltd. now owns 4,101,236 shares of the real estate investment trust’s stock valued at $276,751,000 after acquiring an additional 204,258 shares during the last quarter. Rare Wolf Capital LLC purchased a new stake in shares of BXP in the fourth quarter valued at about $1,630,000. Finally, Corient Private Wealth LLC increased its position in BXP by 22.3% during the fourth quarter. Corient Private Wealth LLC now owns 41,223 shares of the real estate investment trust’s stock worth $2,549,000 after purchasing an additional 7,511 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

BXP Company Profile

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.