BXP (NYSE:BXP) Price Target Cut to $79.00 by Analysts at JPMorgan Chase & Co.

BXP (NYSE:BXP) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $82.00 to $79.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 54.79% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Mizuho cut shares of BXP from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $79.00 to $62.00 in a research note on Tuesday, February 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $79.00 target price on shares of BXP in a report on Thursday, January 29th. Royal Bank Of Canada upgraded BXP to an “outperform” rating in a research report on Thursday, December 4th. Weiss Ratings raised BXP from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, March 2nd. Finally, Truist Financial reduced their price target on BXP from $74.00 to $70.00 and set a “hold” rating for the company in a research report on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, BXP presently has a consensus rating of “Hold” and an average price target of $74.10.

BXP Stock Performance

Shares of NYSE:BXP traded down $0.86 during trading on Wednesday, hitting $51.04. The company’s stock had a trading volume of 2,109,955 shares, compared to its average volume of 2,647,291. The company has a debt-to-equity ratio of 2.21, a current ratio of 5.36 and a quick ratio of 5.36. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 2.21 and a beta of 1.01. The company has a 50-day moving average of $58.54 and a 200-day moving average of $66.71. BXP has a 12 month low of $49.72 and a 12 month high of $79.33.

Insider Buying and Selling

In other BXP news, CEO Owen D. Thomas sold 1,198 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Hilary J. Spann sold 5,495 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $59.69, for a total transaction of $327,996.55. Following the sale, the executive vice president directly owned 17,832 shares of the company’s stock, valued at approximately $1,064,392.08. This trade represents a 23.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 7,887 shares of company stock worth $476,930. 1.35% of the stock is owned by insiders.

Institutional Trading of BXP

A number of institutional investors and hedge funds have recently bought and sold shares of BXP. Hsbc Holdings PLC lifted its stake in BXP by 18.9% in 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 in the last quarter. Corient Private Wealth LLC grew its position in shares of BXP by 9.3% during the fourth 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 in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of 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 valued at $144,000 after purchasing an additional 2,132 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of BXP in the fourth quarter worth about $532,000. Finally, Compound Planning Inc. lifted its position in shares of BXP by 6.8% in 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 in the last quarter. 98.72% of the stock is currently 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.