BXP (NYSE:BXP) Given New $65.00 Price Target at Scotiabank

BXP (NYSE:BXP) had its target price dropped by analysts at Scotiabank from $74.00 to $65.00 in a report released on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would indicate a potential upside of 15.99% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of BXP from $77.00 to $74.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $70.00 price objective on shares of BXP in a research note on Tuesday, January 6th. Mizuho downgraded BXP from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $79.00 to $62.00 in a research report on Tuesday, February 24th. Weiss Ratings restated a “sell (d+)” rating on shares of BXP in a research note on Monday, December 29th. Finally, Evercore cut their price target on BXP from $76.00 to $73.00 and set an “in-line” rating for the company in a research note on Thursday, January 29th. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, BXP presently has an average rating of “Hold” and a consensus price target of $75.00.

BXP Stock Performance

Shares of NYSE:BXP traded down $1.54 during midday trading on Monday, reaching $56.04. The company had a trading volume of 431,307 shares, compared to its average volume of 2,699,831. The stock has a market cap of $8.88 billion, a P/E ratio of 32.09, a P/E/G ratio of 2.45 and a beta of 1.01. The company’s 50 day moving average price is $64.97 and its 200 day moving average price is $69.50. The company has a current ratio of 5.36, a quick ratio of 4.50 and a debt-to-equity ratio of 2.21. BXP has a 52-week low of $54.22 and a 52-week high of $79.33.

Insider Buying and Selling at BXP

In related news, CEO Owen D. Thomas sold 1,198 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.22, for a total value of $73,341.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Hilary J. Spann sold 1,194 shares of BXP stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $63.31, for a total value of $75,592.14. Following the sale, the executive vice president directly owned 17,832 shares of the company’s stock, valued at $1,128,943.92. This represents a 6.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.35% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BXP. Virtu Financial LLC bought a new stake in BXP during the fourth quarter valued at approximately $532,000. Compound Planning Inc. increased its holdings in shares of BXP by 6.8% in the 4th 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. Invesco Ltd. raised 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 buying an additional 204,258 shares in the last quarter. Rare Wolf Capital LLC bought a new stake in shares of BXP during the 4th quarter worth $1,630,000. Finally, Corient Private Wealth LLC lifted its holdings in shares of BXP by 22.3% during the 4th quarter. Corient Private Wealth LLC now owns 41,223 shares of the real estate investment trust’s stock worth $2,549,000 after acquiring an additional 7,511 shares during 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.