Boston Properties (NYSE:BXP) Given New $71.00 Price Target at Truist Financial

Boston Properties (NYSE:BXP - Free Report) had its price target trimmed by Truist Financial from $75.00 to $71.00 in a report published on Tuesday,Benzinga reports. The firm currently has a hold rating on the real estate investment trust's stock.

Several other brokerages have also commented on BXP. Piper Sandler decreased their price objective on shares of Boston Properties from $100.00 to $85.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. UBS Group decreased their price objective on shares of Boston Properties from $80.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Wedbush lowered shares of Boston Properties from a "hold" rating to a "strong sell" rating in a report on Thursday, January 30th. Scotiabank decreased their price objective on shares of Boston Properties from $85.00 to $83.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Finally, Jefferies Financial Group began coverage on shares of Boston Properties in a report on Monday, March 17th. They issued a "buy" rating and a $78.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $77.67.

Boston Properties Trading Down 2.3%

NYSE:BXP traded down $1.60 during midday trading on Tuesday, reaching $67.25. 2,502,753 shares of the stock traded hands, compared to its average volume of 1,291,903. The company has a fifty day moving average of $64.61 and a 200 day moving average of $70.48. Boston Properties has a 12 month low of $54.22 and a 12 month high of $90.11. The company has a debt-to-equity ratio of 2.09, a quick ratio of 5.51 and a current ratio of 5.69. The stock has a market capitalization of $10.65 billion, a P/E ratio of 672.57, a PEG ratio of 0.91 and a beta of 1.12.

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

Boston Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were paid a $0.98 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.92 annualized dividend and a dividend yield of 5.83%. Boston Properties's payout ratio is -19,600.00%.

Insider Buying and Selling

In related news, EVP Donna D. Garesche sold 2,143 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $67.87, for a total value of $145,445.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.49% of the stock is owned by company insiders.

Institutional Trading of Boston Properties

Several institutional investors have recently bought and sold shares of BXP. E. Ohman J or Asset Management AB grew its position in Boston Properties by 32.0% during the 4th quarter. E. Ohman J or Asset Management AB now owns 6,600 shares of the real estate investment trust's stock valued at $491,000 after purchasing an additional 1,600 shares during the last quarter. Van ECK Associates Corp grew its position in Boston Properties by 1.7% during the 4th quarter. Van ECK Associates Corp now owns 70,444 shares of the real estate investment trust's stock valued at $5,238,000 after purchasing an additional 1,169 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in Boston Properties by 25.8% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,414 shares of the real estate investment trust's stock valued at $403,000 after purchasing an additional 1,112 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC grew its position in Boston Properties by 12.5% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 170,504 shares of the real estate investment trust's stock valued at $12,679,000 after purchasing an additional 18,900 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Boston Properties during the 4th quarter valued at about $8,994,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.