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BXP (NYSE:BXP) Price Target Cut to $68.00 by Analysts at The Goldman Sachs Group

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Key Points

  • The Goldman Sachs Group has reduced its price target for BXP from $76.00 to $68.00, maintaining a "neutral" rating on the stock.
  • BXP's stock recently traded at $64.85, with a potential upside of 4.87% from the new target price.
  • Analysts currently have a consensus rating of "Hold" on BXP, with a target price averaging $77.07, while various brokerages have issued differing ratings and targets.
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BXP (NYSE:BXP - Get Free Report) had its price objective cut by equities research analysts at The Goldman Sachs Group from $76.00 to $68.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. The Goldman Sachs Group's target price suggests a potential upside of 4.87% from the stock's previous close.

A number of other brokerages also recently issued reports on BXP. Piper Sandler lowered their price target on BXP from $85.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Wall Street Zen upgraded BXP from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. UBS Group lowered their price target on BXP from $80.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Morgan Stanley lifted their target price on BXP from $62.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company decreased their target price on BXP from $80.00 to $78.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $77.07.

View Our Latest Research Report on BXP

BXP Stock Performance

BXP traded down $0.66 during midday trading on Thursday, hitting $64.85. 321,370 shares of the company traded hands, compared to its average volume of 1,540,644. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 2.06. The firm has a market capitalization of $10.27 billion, a PE ratio of 2,162.72, a price-to-earnings-growth ratio of 3.52 and a beta of 1.17. The company's 50-day moving average is $69.20 and its 200 day moving average is $67.78. BXP has a 52 week low of $54.22 and a 52 week high of $90.11.

BXP (NYSE:BXP - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. The company had revenue of $868.46 million during the quarter, compared to analyst estimates of $845.09 million. BXP had a net margin of 0.11% and a return on equity of 3.89%. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 EPS. On average, research analysts expect that BXP will post 6.91 EPS for the current year.

Hedge Funds Weigh In On BXP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BXP. Squarepoint Ops LLC raised its stake in BXP by 99.3% during the 2nd quarter. Squarepoint Ops LLC now owns 112,591 shares of the real estate investment trust's stock valued at $7,597,000 after purchasing an additional 56,104 shares during the period. Sei Investments Co. boosted its holdings in BXP by 13.1% during the second quarter. Sei Investments Co. now owns 1,534,890 shares of the real estate investment trust's stock valued at $103,559,000 after acquiring an additional 177,608 shares during the period. Stamos Capital Partners L.P. lifted its stake in shares of BXP by 29.8% in the second quarter. Stamos Capital Partners L.P. now owns 19,302 shares of the real estate investment trust's stock valued at $1,302,000 after buying an additional 4,435 shares during the period. State Street Corp lifted its stake in shares of BXP by 1.7% in the second quarter. State Street Corp now owns 11,433,768 shares of the real estate investment trust's stock valued at $782,337,000 after buying an additional 186,269 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in BXP by 70.9% during the second quarter. Daiwa Securities Group Inc. now owns 1,138,083 shares of the real estate investment trust's stock worth $76,787,000 after purchasing an additional 472,221 shares during the period. 98.72% of the stock is owned by institutional investors.

BXP Company Profile

(Get Free Report)

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.

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Analyst Recommendations for BXP (NYSE:BXP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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