BXP (NYSE:BXP) Stock Price Target Lowered at UBS Group

BXP (NYSE:BXP) had its price target reduced by UBS Group from $70.00 to $66.00 in a research report report published on Friday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other equities analysts also recently issued reports on BXP. BMO Capital Markets reaffirmed an “outperform” rating and set a $70.00 price target on shares of BXP in a research report on Sunday, October 11th. Barclays raised their price objective on BXP from $65.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Citigroup boosted their target price on BXP from $58.00 to $69.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Mizuho upped their target price on BXP from $62.00 to $68.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen upgraded BXP from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.31.

BXP Stock Up 1.5%

Shares of BXP stock traded up $0.92 during mid-day trading on Friday, hitting $63.81. 781,486 shares of the stock traded hands, compared to its average volume of 1,505,314. The stock has a market cap of $10.19 billion, a P/E ratio of 19.11, a P/E/G ratio of 2.12 and a beta of 1.03. The stock’s fifty day moving average is $62.26 and its two-hundred day moving average is $62.04. BXP has a 52-week low of $49.72 and a 52-week high of $74.94. The company has a debt-to-equity ratio of 2.17, a current ratio of 4.93 and a quick ratio of 3.91.

BXP (NYSE:BXP) last issued its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.21. The firm had revenue of $911.43 million for the quarter, compared to the consensus estimate of $892.51 million. BXP had a net margin of 14.99% and a return on equity of 6.89%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.74 EPS. Equities analysts predict that BXP will post 7.07 EPS for the current year.

BXP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.4%. BXP’s dividend payout ratio (DPR) is currently 83.83%.

Institutional Investors Weigh In On BXP

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of BXP during the second quarter worth about $1,192,349,000. Bank of America Corp DE purchased a new stake in BXP in the second quarter valued at approximately $186,471,000. Legal & General Group Plc acquired a new position in BXP in the 2nd quarter worth approximately $83,987,000. Bank of New York Mellon Corp acquired a new position in BXP in the 2nd quarter worth approximately $63,769,000. Finally, Hsbc Holdings PLC purchased a new position in BXP during the 2nd quarter worth approximately $50,793,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

About BXP

BXP, Inc. is a real estate investment trust that owns, develops and manages commercial real estate, with a focus on office properties and workplaces. Its portfolio also includes complementary mixed-use properties and related amenities. The company operates in major U.S. markets, including Boston, New York, Washington, D.C., San Francisco and Los Angeles. Its business includes leasing space to companies and overseeing the development and management of its properties. Founded in 1970 as Boston Properties, the company adopted the BXP name in 2023.