Boston Properties (NYSE:BXP) Lifted to "Overweight" at Piper Sandler

Boston Properties (NYSE:BXP - Get Free Report) was upgraded by equities research analysts at Piper Sandler from a "neutral" rating to an "overweight" rating in a research note issued on Wednesday, MarketBeat reports. The firm presently has a $105.00 price target on the real estate investment trust's stock, up from their prior price target of $78.00. Piper Sandler's price objective points to a potential upside of 20.73% from the company's previous close.

Other research analysts have also issued research reports about the company. 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 report on Monday, September 16th. Truist Financial lifted their price target on Boston Properties from $67.00 to $77.00 and gave the stock a "hold" rating in a research report on Tuesday, August 27th. StockNews.com upgraded Boston Properties from a "sell" rating to a "hold" rating in a research report on Thursday, August 8th. Wells Fargo & Company lifted their price target on Boston Properties from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 11th. Finally, Wedbush lifted their price target on Boston Properties from $63.00 to $70.00 and gave the stock a "neutral" rating in a research report on Monday, August 5th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.91.

Boston Properties Price Performance

Shares of BXP stock traded up $0.15 during trading hours on Wednesday, hitting $86.97. The stock had a trading volume of 1,244,045 shares, compared to its average volume of 1,266,836. Boston Properties has a one year low of $50.64 and a one year high of $90.11. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.83. The stock's 50-day moving average price is $78.89 and its two-hundred day moving average price is $68.57. The stock has a market capitalization of $13.66 billion, a price-to-earnings ratio of 71.29, a PEG ratio of 0.56 and a beta of 1.18.

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

Insider Activity at Boston Properties

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

Hedge Funds Weigh In On Boston Properties

Large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. raised its stake in Boston Properties by 212.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust's stock worth $35,000 after buying an additional 386 shares in the last quarter. UMB Bank n.a. raised its stake in Boston Properties by 115.5% in the second quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust's stock worth $44,000 after buying an additional 380 shares in the last quarter. Abich Financial Wealth Management LLC increased its position in shares of Boston Properties by 59.1% during the first quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust's stock worth $69,000 after purchasing an additional 395 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Boston Properties by 61.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust's stock worth $89,000 after purchasing an additional 547 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Boston Properties during the second quarter worth $91,000. 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.