BXP (NYSE:BXP) Price Target Cut to $66.00 by Analysts at UBS Group

Key Points

• UBS cut its BXP price target from $70 to $66 while maintaining a neutral rating; the new target implies 4.62% upside from the prior close.
• Analyst sentiment overall remains positive: BXP has a “Moderate Buy” consensus, with nine Buy and eight Hold ratings and an average price target of $72.31.
• BXP beat quarterly earnings and revenue estimates, reporting $0.71 per share and $911.43 million in revenue; revenue rose 4.6% year over year, while EPS was down from $1.74 a year earlier.

BXP (NYSE:BXP - Get Free Report) had its target price reduced by investment analysts at UBS Group from $70.00 to $66.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. UBS Group's price target indicates a potential upside of 4.62% from the company's previous close.

Several other equities research analysts have also recently issued reports on BXP. Wall Street Zen upgraded BXP from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Scotiabank lowered their price objective on BXP from $76.00 to $73.00 and set an "outperform" rating on the stock in a research note on Thursday, September 17th. Piper Sandler raised their price objective on BXP from $64.00 to $65.00 and gave the stock a "neutral" rating in a research note on Thursday, October 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of BXP in a report on Friday, October 2nd. Finally, Wells Fargo & Company upped their target price on BXP from $77.00 to $82.00 and gave the company an "overweight" rating in a research report on Tuesday, September 1st. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $72.31.

BXP Stock Performance

Shares of BXP stock traded up $0.20 on Friday, hitting $63.09. The company's stock had a trading volume of 154,409 shares, compared to its average volume of 1,818,845. The company has a debt-to-equity ratio of 2.17, a quick ratio of 3.91 and a current ratio of 4.93. The stock's 50 day moving average is $62.35 and its 200-day moving average is $62.05. BXP has a fifty-two week low of $49.72 and a fifty-two week high of $74.94. The company has a market capitalization of $10.08 billion, a PE ratio of 18.90, a PEG ratio of 2.13 and a beta of 1.03.

BXP (NYSE:BXP - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.21. BXP had a net margin of 14.99% and a return on equity of 6.89%. The business had revenue of $911.43 million for the quarter, compared to analyst estimates of $892.51 million. During the same period last year, the firm earned $1.74 earnings per share. BXP's revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts expect that BXP will post 7.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BXP

A number of institutional investors have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group grew its holdings in shares of BXP by 4.3% during the second quarter. Rehmann Capital Advisory Group now owns 4,280 shares of the real estate investment trust's stock worth $284,000 after purchasing an additional 175 shares during the last quarter. Elevation Wealth Partners LLC boosted its position in BXP by 13.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,715 shares of the real estate investment trust's stock worth $105,000 after buying an additional 206 shares during the period. Choreo LLC boosted its position in BXP by 1.2% during the 3rd quarter. Choreo LLC now owns 18,334 shares of the real estate investment trust's stock worth $1,120,000 after buying an additional 217 shares during the period. Roman Butler Fullerton & Co. grew its holdings in BXP by 6.2% during the 3rd quarter. Roman Butler Fullerton & Co. now owns 3,952 shares of the real estate investment trust's stock worth $229,000 after acquiring an additional 229 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in BXP by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 41,582 shares of the real estate investment trust's stock worth $2,757,000 after acquiring an additional 238 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

About BXP

BXP, Inc. is a real estate investment trust that owns, develops and manages commercial real estate, with a focus on office properties and workplaces. Its portfolio also includes complementary mixed-use properties and related amenities. The company operates in major U.S. markets, including Boston, New York, Washington, D.C., San Francisco and Los Angeles. Its business includes leasing space to companies and overseeing the development and management of its properties. Founded in 1970 as Boston Properties, the company adopted the BXP name in 2023.

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