Boston Properties (NYSE:BXP) Given New $78.00 Price Target at Wells Fargo & Company

Boston Properties (NYSE:BXP) had its target price dropped by Wells Fargo & Company from $80.00 to $78.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price points to a potential upside of 15.73% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. UBS Group reduced their price target on shares of Boston Properties from $80.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Piper Sandler dropped their price target on Boston Properties from $100.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Barclays decreased their price objective on Boston Properties from $89.00 to $79.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Wedbush downgraded shares of Boston Properties from a “hold” rating to a “strong sell” rating in a report on Thursday, January 30th. Finally, Jefferies Financial Group initiated coverage on shares of Boston Properties in a research note on Monday, March 17th. They issued a “buy” rating and a $78.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Boston Properties has an average rating of “Hold” and a consensus target price of $78.67.

Boston Properties Stock Down 0.6%

Shares of NYSE BXP opened at $67.40 on Monday. The company has a current ratio of 5.69, a quick ratio of 5.51 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $10.67 billion, a PE ratio of 674.07, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12. The firm’s 50-day moving average is $64.83 and its 200-day moving average is $71.35. Boston Properties has a 1 year low of $54.22 and a 1 year high of $90.11.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.01). The company had revenue of $865.22 million during the quarter, compared to the consensus estimate of $833.89 million. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. Equities analysts expect that Boston Properties will post 6.91 EPS for the current year.

Insider Activity at Boston Properties

In other Boston Properties news, EVP Donna D. Garesche sold 2,143 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $67.87, for a total transaction of $145,445.41. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.49% of the company’s stock.

Institutional Investors Weigh In On Boston Properties

Hedge funds have recently bought and sold shares of the company. Canada Post Corp Registered Pension Plan bought a new stake in Boston Properties in the fourth quarter valued at approximately $32,000. Sentry Investment Management LLC bought a new stake in Boston Properties in the 1st quarter valued at $34,000. Brooklyn Investment Group lifted its holdings in Boston Properties by 19.8% during the 4th quarter. Brooklyn Investment Group now owns 858 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 142 shares during the last quarter. Huntington National Bank boosted its position in Boston Properties by 29.8% during the fourth quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 263 shares during the period. Finally, Hurley Capital LLC bought a new position in Boston Properties during the fourth quarter worth $94,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Boston Properties Company Profile

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.