Jefferies Financial Group Cuts Boston Properties (NYSE:BXP) Price Target to $84.00

Boston Properties (NYSE:BXP - Get Free Report) had its price target lowered by equities research analysts at Jefferies Financial Group from $93.00 to $84.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. Jefferies Financial Group's price target would suggest a potential upside of 13.98% from the stock's previous close.

Several other research firms have also issued reports on BXP. Wells Fargo & Company raised their price objective on Boston Properties from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, September 11th. Truist Financial lifted their target price on Boston Properties from $77.00 to $83.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. Evercore ISI upped their price target on shares of Boston Properties from $77.00 to $84.00 and gave the stock an "outperform" rating in a report on Monday, September 16th. Piper Sandler raised shares of Boston Properties from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Finally, Wedbush cut Boston Properties from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $81.00 to $70.00 in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Boston Properties has a consensus rating of "Hold" and a consensus target price of $81.69.

Boston Properties Price Performance

NYSE:BXP traded down $0.66 on Thursday, reaching $73.70. 935,630 shares of the company's stock traded hands, compared to its average volume of 1,255,217. The firm has a market cap of $11.65 billion, a PE ratio of 31.90, a P/E/G ratio of 0.55 and a beta of 1.17. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. The stock has a 50-day simple moving average of $79.69 and a 200-day simple moving average of $75.24. Boston Properties has a 12 month low of $56.46 and a 12 month high of $90.11.

Boston Properties (NYSE:BXP - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.81 by ($1.28). The firm had revenue of $859.23 million during the quarter, compared to the consensus estimate of $829.91 million. Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The business's revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.86 EPS. Equities research analysts forecast that Boston Properties will post 7.1 earnings per share for the current year.

Hedge Funds Weigh In On Boston Properties

Institutional investors have recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Boston Properties by 61.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,578 shares of the real estate investment trust's stock worth $1,759,000 after purchasing an additional 10,928 shares during the period. Victory Capital Management Inc. lifted its holdings in Boston Properties by 189.0% during the second quarter. Victory Capital Management Inc. now owns 79,552 shares of the real estate investment trust's stock valued at $4,897,000 after purchasing an additional 52,026 shares in the last quarter. Toronto Dominion Bank grew its position in shares of Boston Properties by 15.7% in the third quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust's stock valued at $3,966,000 after purchasing an additional 6,687 shares during the period. Natixis Advisors LLC raised its position in shares of Boston Properties by 52.8% during the 2nd quarter. Natixis Advisors LLC now owns 148,073 shares of the real estate investment trust's stock worth $9,115,000 after purchasing an additional 51,158 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in Boston Properties by 92.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 13,831 shares of the real estate investment trust's stock valued at $851,000 after buying an additional 6,642 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Boston Properties Company Profile

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.