Citigroup Cuts BXP (NYSE:BXP) Price Target to $70.00

BXP (NYSE:BXP) had its price target cut by analysts at Citigroup from $75.00 to $70.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price objective would suggest a potential upside of 5.72% from the company’s current price.

BXP has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of BXP in a research report on Monday, December 29th. Wells Fargo & Company decreased their target price on BXP from $77.00 to $74.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. Barclays dropped their price target on BXP from $79.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Monday, December 1st. The Goldman Sachs Group set a $77.00 price objective on BXP and gave the company a “neutral” rating in a report on Friday, October 17th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of BXP in a research report on Monday, October 13th. They issued a “buy” rating and a $85.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BXP presently has an average rating of “Hold” and a consensus price target of $78.30.

BXP Trading Down 2.8%

Shares of NYSE:BXP traded down $1.89 during mid-day trading on Wednesday, reaching $66.21. The stock had a trading volume of 614,014 shares, compared to its average volume of 1,517,907. The firm has a market cap of $10.49 billion, a PE ratio of -52.09, a price-to-earnings-growth ratio of 6.13 and a beta of 1.01. The firm has a 50 day simple moving average of $70.13 and a two-hundred day simple moving average of $70.66. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 2.26. BXP has a twelve month low of $54.22 and a twelve month high of $79.33.

BXP (NYSE:BXP) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.02. BXP had a negative net margin of 5.82% and a positive return on equity of 1.35%. The firm had revenue of $871.51 million during the quarter, compared to analysts’ expectations of $860.88 million. During the same quarter in the previous year, the company earned $1.81 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. BXP has set its FY 2025 guidance at 6.890-6.920 EPS. On average, research analysts predict that BXP will post 6.91 EPS for the current fiscal year.

Insider Buying and Selling at BXP

In other news, EVP Peter V. Otteni sold 4,136 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $72.65, for a total value of $300,480.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael E. Labelle sold 13,422 shares of BXP stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.34, for a total value of $970,947.48. Following the completion of the sale, the chief financial officer directly owned 9,223 shares in the company, valued at approximately $667,191.82. This represents a 59.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 70,710 shares of company stock valued at $5,107,771 over the last quarter. 1.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Loomis Sayles & Co. L P acquired a new position in shares of BXP during the 2nd quarter worth approximately $25,000. Muzinich & Co. Inc. bought a new position in shares of BXP in the third quarter valued at $27,000. MUFG Securities EMEA plc acquired a new position in BXP during the second quarter worth $29,000. REAP Financial Group LLC increased its holdings in BXP by 193.2% during the second quarter. REAP Financial Group LLC now owns 472 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 311 shares during the last quarter. Finally, Avalon Trust Co acquired a new stake in BXP in the third quarter valued at $36,000. 98.72% of the stock is currently owned by institutional investors.

BXP Company Profile

Boston Properties, Inc (NYSE: BXP) is a publicly traded real estate investment trust (REIT) specializing in the ownership, management, and development of Class A office properties across major U.S. markets. Headquartered in Boston, Massachusetts, the company’s portfolio comprises high-quality office buildings, mixed-use developments and select retail assets designed to serve leading corporations in key metropolitan areas.

Established in 1970 by Mortimer B. Zuckerman, Boston Properties has grown through disciplined acquisitions and strategic ground-up developments.