Boston Properties (NYSE:BXP) Price Target Raised to $80.00 at UBS Group

Boston Properties (NYSE:BXP - Free Report) had its price target upped by UBS Group from $64.00 to $80.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust's stock.

BXP has been the topic of a number of other research reports. Wells Fargo & Company boosted their target price on shares of Boston Properties from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, September 11th. Wedbush raised their target price on Boston Properties from $63.00 to $70.00 and gave the company a "neutral" rating in a research note on Monday, August 5th. Scotiabank upped their price target on Boston Properties from $82.00 to $91.00 and gave the stock a "sector outperform" rating in a research note on Friday, October 25th. StockNews.com cut Boston Properties from a "hold" rating to a "sell" rating in a research note on Thursday, October 31st. Finally, Truist Financial boosted their price objective on Boston Properties from $67.00 to $77.00 and gave the company a "hold" rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Boston Properties has a consensus rating of "Hold" and a consensus target price of $80.69.

Boston Properties Trading Up 1.3 %

NYSE BXP traded up $1.05 during mid-day trading on Tuesday, reaching $81.38. 895,495 shares of the stock were exchanged, compared to its average volume of 1,267,948. The stock has a market cap of $12.78 billion, a P/E ratio of 35.23, a P/E/G ratio of 0.54 and a beta of 1.18. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 and a quick ratio of 4.83. Boston Properties has a one year low of $50.64 and a one year high of $90.11. The stock has a 50 day simple moving average of $81.06 and a 200-day simple moving average of $70.09.

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

Boston Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Monday, September 30th. Boston Properties's payout ratio is 169.70%.

Insiders Place Their Bets

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $74.25, for a total transaction of $1,621,248.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The disclosure for this sale can be found here. Insiders own 1.35% of the company's stock.

Hedge Funds Weigh In On Boston Properties

Several institutional investors have recently bought and sold shares of BXP. Crossmark Global Holdings Inc. lifted its holdings in Boston Properties by 9.8% during the third quarter. Crossmark Global Holdings Inc. now owns 8,575 shares of the real estate investment trust's stock valued at $690,000 after purchasing an additional 763 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Boston Properties by 12.0% during the 3rd quarter. Van ECK Associates Corp now owns 69,275 shares of the real estate investment trust's stock valued at $6,024,000 after buying an additional 7,447 shares in the last quarter. Sun Life Financial Inc. bought a new position in Boston Properties in the 3rd quarter worth approximately $9,674,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Boston Properties by 2.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 133,871 shares of the real estate investment trust's stock valued at $10,771,000 after acquiring an additional 3,502 shares during the period. Finally, Whittier Trust Co. lifted its position in shares of Boston Properties by 4.2% during the third quarter. Whittier Trust Co. now owns 296,354 shares of the real estate investment trust's stock worth $23,844,000 after acquiring an additional 12,018 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.