Boston Properties (NYSE:BXP) Given New $79.00 Price Target at Barclays

Boston Properties (NYSE:BXP - Free Report) had its target price cut by Barclays from $89.00 to $79.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an equal weight rating on the real estate investment trust's stock.

Other analysts have also recently issued research reports about the company. Scotiabank lowered their price target on Boston Properties from $85.00 to $83.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Jefferies Financial Group lowered their price target on Boston Properties from $93.00 to $84.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Truist Financial boosted their target price on Boston Properties from $77.00 to $83.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Mizuho decreased their target price on Boston Properties from $92.00 to $86.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Finally, Piper Sandler decreased their target price on Boston Properties from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Boston Properties presently has an average rating of "Hold" and a consensus price target of $81.31.

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Boston Properties Price Performance

BXP stock traded up $1.58 during trading on Friday, hitting $65.55. The stock had a trading volume of 1,182,502 shares, compared to its average volume of 1,167,994. The company's 50 day moving average price is $70.43 and its two-hundred day moving average price is $76.71. Boston Properties has a 1-year low of $56.46 and a 1-year high of $90.11. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 655.57, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a quick ratio of 5.51 and a current ratio of 5.69.

Boston Properties (NYSE:BXP - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 EPS for the quarter, beating the consensus estimate of $0.51 by $1.28. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. On average, sell-side analysts forecast that Boston Properties will post 6.91 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Tuesday, December 31st were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 5.98%. The ex-dividend date was Tuesday, December 31st. Boston Properties's dividend payout ratio (DPR) is presently 3,920.00%.

Insider Buying and Selling

In other Boston Properties news, EVP Donna D. Garesche sold 2,143 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $67.87, for a total value of $145,445.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Hilary J. Spann sold 12,379 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $72.02, for a total value of $891,535.58. Following the completion of the transaction, the executive vice president now directly owns 7,271 shares in the company, valued at approximately $523,657.42. The trade was a 63.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boston Properties

Institutional investors have recently made changes to their positions in the business. Canada Post Corp Registered Pension Plan acquired a new position in shares of Boston Properties in the 4th quarter valued at approximately $32,000. Harvest Fund Management Co. Ltd raised its position in shares of Boston Properties by 5,025.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 603 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Boston Properties in the 3rd quarter valued at approximately $58,000. Huntington National Bank raised its position in shares of Boston Properties by 29.8% during the 4th quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust's stock valued at $85,000 after acquiring an additional 263 shares in the last quarter. Finally, Hurley Capital LLC acquired a new stake in shares of Boston Properties during the 4th quarter valued at approximately $94,000. 98.72% of the stock is owned by institutional investors and hedge funds.

About Boston Properties

Boston Properties, Inc NYSE: BXP (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.