BXP (NYSE:BXP) Price Target Cut to $68.00 by Analysts at Citigroup

BXP (NYSE:BXP) had its price target decreased by investment analysts at Citigroup from $70.00 to $68.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s target price suggests a potential upside of 7.86% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. New Street Research set a $85.00 price objective on shares of BXP in a report on Monday, October 13th. Royal Bank Of Canada raised shares of BXP to an “outperform” rating in a research report on Thursday, December 4th. LADENBURG THALM/SH SH assumed coverage on BXP in a research note on Monday, October 13th. They set a “buy” rating and a $85.00 target price on the stock. UBS Group reduced their price objective on BXP from $74.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Finally, Evercore ISI dropped their price objective on shares of BXP from $76.00 to $73.00 and set an “in-line” rating on the stock in a research report on Thursday, January 29th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, BXP currently has an average rating of “Hold” and a consensus price target of $77.30.

BXP Stock Performance

Shares of BXP stock traded down $0.02 on Tuesday, hitting $63.05. The company had a trading volume of 381,019 shares, compared to its average volume of 1,853,096. The company has a 50-day moving average price of $68.42 and a 200-day moving average price of $70.24. The company has a quick ratio of 4.50, a current ratio of 5.36 and a debt-to-equity ratio of 2.21. The firm has a market cap of $9.99 billion, a P/E ratio of -49.60, a price-to-earnings-growth ratio of 7.65 and a beta of 1.01. BXP has a twelve month low of $54.22 and a twelve month high of $79.33.

Insider Transactions at BXP

In related news, CFO Michael E. Labelle sold 13,422 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $72.34, for a total transaction of $970,947.48. Following the transaction, the chief financial officer directly owned 9,223 shares of the company’s stock, valued at approximately $667,191.82. The trade was a 59.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Peter V. Otteni sold 4,136 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $72.65, for a total transaction of $300,480.40. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 70,710 shares of company stock valued at $5,107,771. 1.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On BXP

Hedge funds and other institutional investors have recently modified their holdings of the stock. Truist Financial Corp increased its position in BXP by 1.2% in the 2nd quarter. Truist Financial Corp now owns 11,987 shares of the real estate investment trust’s stock valued at $809,000 after acquiring an additional 145 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of BXP by 2.5% in the third quarter. Benjamin Edwards Inc. now owns 6,544 shares of the real estate investment trust’s stock valued at $487,000 after acquiring an additional 159 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in BXP by 2.5% during the third quarter. Envestnet Portfolio Solutions Inc. now owns 6,476 shares of the real estate investment trust’s stock worth $481,000 after acquiring an additional 160 shares during the period. Stonehaven Wealth & Tax Solutions LLC boosted its position in shares of BXP by 4.6% during the 4th quarter. Stonehaven Wealth & Tax Solutions LLC now owns 3,691 shares of the real estate investment trust’s stock valued at $249,000 after purchasing an additional 162 shares in the last quarter. Finally, Sage Mountain Advisors LLC raised its holdings in shares of BXP by 4.8% in the 4th quarter. Sage Mountain Advisors LLC now owns 3,722 shares of the real estate investment trust’s stock worth $251,000 after purchasing an additional 171 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

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.