Boston Properties (NYSE:BXP) Given New $80.00 Price Target at Wells Fargo & Company

Boston Properties (NYSE:BXP - Get Free Report) had its target price lowered by analysts at Wells Fargo & Company from $88.00 to $80.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective suggests a potential upside of 12.31% from the stock's current price.

Several other analysts also recently commented on BXP. Wedbush downgraded shares of Boston Properties from a "hold" rating to a "strong sell" rating in a research report on Thursday, January 30th. Barclays raised their price target on Boston Properties from $88.00 to $89.00 and gave the company an "equal weight" rating in a report on Monday, November 18th. Scotiabank reaffirmed a "sector perform" rating and issued a $85.00 price objective on shares of Boston Properties in a research note on Thursday, November 7th. StockNews.com downgraded Boston Properties from a "hold" rating to a "sell" rating in a research note on Thursday, October 31st. Finally, UBS Group upped their price target on Boston Properties from $64.00 to $80.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $82.23.

Boston Properties Stock Performance

BXP traded up $0.80 during midday trading on Monday, reaching $71.23. The company had a trading volume of 497,139 shares, compared to its average volume of 1,235,014. The business has a 50-day moving average of $74.16 and a two-hundred day moving average of $76.92. The company has a quick ratio of 5.51, a current ratio of 5.69 and a debt-to-equity ratio of 2.09. Boston Properties has a 1 year low of $56.46 and a 1 year high of $90.11. The company has a market cap of $11.26 billion, a P/E ratio of 713.32, a P/E/G ratio of 0.95 and a beta of 1.18.

Boston Properties (NYSE:BXP - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $1.28. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. As a group, equities research analysts predict that Boston Properties will post 6.91 earnings per share for the current fiscal year.

Insider Transactions at Boston Properties

In other news, EVP Hilary J. Spann sold 12,379 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $72.02, for a total value of $891,535.58. Following the completion of the sale, the executive vice president now directly owns 7,271 shares of the company's stock, valued at $523,657.42. This trade represents a 63.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.35% of the company's stock.

Institutional Trading of Boston Properties

Several hedge funds and other institutional investors have recently bought and sold shares of BXP. Harvest Fund Management Co. Ltd boosted its stake in Boston Properties by 5,025.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust's stock worth $49,000 after buying an additional 603 shares during the period. Brooklyn Investment Group purchased a new position in shares of Boston Properties during the 3rd quarter worth about $58,000. Huntington National Bank grew its holdings in 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 purchasing an additional 263 shares during the last quarter. Hurley Capital LLC bought a new position in Boston Properties during the 4th quarter valued at about $94,000. Finally, Heritage Trust Co purchased a new stake in Boston Properties in the 4th quarter worth about $210,000. 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.