BXP (NYSE:BXP) Given New $75.00 Price Target at Piper Sandler

BXP (NYSE:BXP) had its price objective lowered by equities research analysts at Piper Sandler from $87.00 to $75.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price objective indicates a potential upside of 46.71% from the stock’s previous close.

A number of other brokerages have also commented on BXP. UBS Group dropped their price objective on shares of BXP from $74.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Royal Bank Of Canada upgraded BXP to an “outperform” rating in a report on Thursday, December 4th. Scotiabank reduced their price objective on BXP from $74.00 to $65.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Evercore dropped their target price on BXP from $76.00 to $73.00 and set an “in-line” rating on the stock in a research report on Thursday, January 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $79.00 target price on shares of BXP in a research note on Thursday, January 29th. Ten analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, BXP currently has a consensus rating of “Hold” and a consensus price target of $74.25.

BXP Stock Down 1.5%

Shares of BXP traded down $0.78 on Wednesday, hitting $51.12. The company’s stock had a trading volume of 1,101,662 shares, compared to its average volume of 2,639,981. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 29.38, a P/E/G ratio of 2.21 and a beta of 1.01. The firm’s fifty day moving average price is $58.54 and its 200-day moving average price is $66.71. BXP has a fifty-two week low of $49.72 and a fifty-two week high of $79.33.

Insider Transactions at BXP

In other BXP news, EVP Hilary J. Spann sold 5,495 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $59.69, for a total value of $327,996.55. Following the completion of the transaction, the executive vice president directly owned 17,832 shares in the company, valued at $1,064,392.08. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Owen D. Thomas sold 1,198 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $61.22, for a total value of $73,341.56. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 7,887 shares of company stock worth $476,930. 1.35% of the stock is owned by company insiders.

Institutional Trading of BXP

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its stake in shares of BXP by 18.9% during the 4th quarter. Hsbc Holdings PLC now owns 776,982 shares of the real estate investment trust’s stock worth $52,438,000 after purchasing an additional 123,301 shares during the last quarter. Corient Private Wealth LLC lifted its stake in BXP by 9.3% in the 4th quarter. Corient Private Wealth LLC now owns 36,851 shares of the real estate investment trust’s stock valued at $2,487,000 after purchasing an additional 3,139 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in BXP by 213,200.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,133 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 2,132 shares during the period. Virtu Financial LLC bought a new position in BXP during the fourth quarter worth about $532,000. Finally, Compound Planning Inc. increased its position in BXP by 6.8% during the fourth quarter. Compound Planning Inc. now owns 3,978 shares of the real estate investment trust’s stock worth $268,000 after buying an additional 253 shares during the last quarter. 98.72% of the stock is owned by 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.