Wedbush Lowers Boston Properties (NYSE:BXP) Price Target to $63.00

Boston Properties (NYSE:BXP - Get Free Report) had its target price decreased by equities research analysts at Wedbush from $66.00 to $63.00 in a report issued on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. Wedbush's target price points to a potential upside of 4.88% from the company's previous close.

Other analysts also recently issued research reports about the company. Truist Financial cut their price target on Boston Properties from $77.00 to $75.00 and set a "hold" rating on the stock in a report on Tuesday, March 5th. Barclays lowered their target price on Boston Properties from $67.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 27th. BMO Capital Markets lowered their target price on Boston Properties from $80.00 to $78.00 and set an "outperform" rating on the stock in a research report on Monday, April 8th. StockNews.com upgraded Boston Properties from a "sell" rating to a "hold" rating in a research report on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on Boston Properties in a research report on Tuesday, January 30th. They set a "hold" rating and a $74.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $69.47.

Boston Properties Stock Performance

NYSE:BXP traded up $0.82 during trading hours on Thursday, reaching $60.07. 1,254,043 shares of the stock were exchanged, compared to its average volume of 1,430,829. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 1.99. The firm has a 50 day simple moving average of $62.81 and a 200-day simple moving average of $63.04. Boston Properties has a 52 week low of $46.80 and a 52 week high of $73.97. The stock has a market capitalization of $9.43 billion, a P/E ratio of 48.84 and a beta of 1.15.

Boston Properties (NYSE:BXP - Get Free Report) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $1.73 by ($1.22). The firm had revenue of $839.44 million for the quarter, compared to the consensus estimate of $808.68 million. Boston Properties had a return on equity of 2.35% and a net margin of 5.81%. The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.73 EPS. As a group, sell-side analysts forecast that Boston Properties will post 7.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the firm's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total transaction of $889,186.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.35% of the company's stock.

Hedge Funds Weigh In On Boston Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its stake in shares of Boston Properties by 435.9% in the 4th quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 340 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in Boston Properties during the 4th quarter worth approximately $29,000. Turtle Creek Wealth Advisors LLC bought a new stake in Boston Properties during the 4th quarter worth approximately $34,000. Sound Income Strategies LLC grew its position in Boston Properties by 770.9% during the 4th quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 424 shares during the last quarter. Finally, Cambridge Trust Co. boosted its position in Boston Properties by 80.1% in the 4th quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 250 shares during the last quarter. 98.72% of the stock is currently owned by 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.