Boston Properties (NYSE:BXP) Given New $91.00 Price Target at Scotiabank

Boston Properties (NYSE:BXP - Free Report) had its price target hoisted by Scotiabank from $82.00 to $91.00 in a report published on Friday, Benzinga reports. The brokerage currently has a sector outperform rating on the real estate investment trust's stock.

A number of other research analysts have also weighed in on BXP. Truist Financial raised their price target on shares of Boston Properties from $67.00 to $77.00 and gave the company a "hold" rating in a research note on Tuesday, August 27th. Evercore ISI lifted their price target on Boston Properties from $77.00 to $84.00 and gave the stock an "outperform" rating in a research note on Monday, September 16th. Wells Fargo & Company increased 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. StockNews.com upgraded Boston Properties from a "sell" rating to a "hold" rating in a report on Thursday, August 8th. Finally, Piper Sandler raised shares of Boston Properties from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $78.00 to $105.00 in a report on Wednesday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.73.

Boston Properties Price Performance

Shares of Boston Properties stock traded down $0.61 on Friday, reaching $86.99. The company's stock had a trading volume of 990,123 shares, compared to its average volume of 1,263,835. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $13.66 billion, a P/E ratio of 71.53, a PEG ratio of 0.56 and a beta of 1.18. The stock has a 50-day moving average price of $79.25 and a 200-day moving average price of $68.71. Boston Properties has a 52-week low of $50.64 and a 52-week high of $90.11.

Boston Properties (NYSE:BXP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.72 by ($1.21). The company had revenue of $850.48 million during the quarter, compared to analysts' expectations of $819.49 million. Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. Boston Properties's revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.86 EPS. Analysts expect that Boston Properties will post 7.11 EPS for the current year.

Boston Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 4.51%. The ex-dividend date is Monday, September 30th. Boston Properties's payout ratio is currently 321.31%.

Insider Activity

In other news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the company'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 accessible through this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction dated Monday, September 9th. The stock was 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. Corporate insiders own 1.35% of the company's stock.

Hedge Funds Weigh In On Boston Properties

A number of hedge funds have recently made changes to their positions in BXP. Acadian Asset Management LLC acquired a new stake in shares of Boston Properties in the first quarter valued at $1,187,000. SG Americas Securities LLC increased its stake in Boston Properties by 76.8% during the second quarter. SG Americas Securities LLC now owns 110,242 shares of the real estate investment trust's stock worth $6,786,000 after purchasing an additional 47,882 shares during the period. M&G Plc acquired a new stake in shares of Boston Properties during the first quarter worth about $3,807,000. Caxton Associates LP acquired a new stake in shares of Boston Properties during the first quarter worth about $1,423,000. Finally, DNB Asset Management AS boosted its stake in shares of Boston Properties by 47.3% in the second quarter. DNB Asset Management AS now owns 34,755 shares of the real estate investment trust's stock valued at $2,140,000 after purchasing an additional 11,163 shares during the period. Hedge funds and other institutional investors own 98.72% of the company's stock.

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.