Boston Properties (NYSE:BXP) Given New $85.00 Price Target at Piper Sandler

Boston Properties (NYSE:BXP - Free Report) had its price target trimmed by Piper Sandler from $100.00 to $85.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust's stock.

BXP has been the topic of several other research reports. Scotiabank cut their price target on shares of Boston Properties from $85.00 to $83.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Wedbush lowered shares of Boston Properties from a "hold" rating to a "strong sell" rating in a research note on Thursday, January 30th. Jefferies Financial Group initiated coverage on Boston Properties in a research report on Monday, March 17th. They set a "buy" rating and a $78.00 price objective on the stock. Mizuho decreased their target price on Boston Properties from $92.00 to $86.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company lowered their target price on Boston Properties from $88.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $79.83.

Boston Properties Trading Up 1.2 %

Shares of NYSE BXP traded up $0.78 during mid-day trading on Tuesday, hitting $63.85. The stock had a trading volume of 1,413,164 shares, compared to its average volume of 1,251,110. The firm has a market cap of $10.11 billion, a P/E ratio of 638.56, a price-to-earnings-growth ratio of 0.91 and a beta of 1.06. 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 business has a 50 day moving average price of $66.48 and a two-hundred day moving average price of $74.15. Boston Properties has a 1 year low of $54.22 and a 1 year high of $90.11.

Boston Properties (NYSE:BXP - Get Free Report) last posted its earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $1.28. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. On average, equities analysts anticipate that Boston Properties will post 6.91 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.98 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.92 dividend on an annualized basis and a yield of 6.14%. Boston Properties's dividend payout ratio is presently 3,920.00%.

Insider Activity

In other Boston Properties news, EVP Donna D. Garesche sold 2,143 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $67.87, for a total value of $145,445.41. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Hilary J. Spann sold 12,379 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $72.02, for a total value of $891,535.58. Following the sale, the executive vice president now owns 7,271 shares of the company's stock, valued at approximately $523,657.42. This represents a 63.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.35% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BXP. Deutsche Bank AG lifted its position in Boston Properties by 30.6% during the fourth quarter. Deutsche Bank AG now owns 949,603 shares of the real estate investment trust's stock valued at $70,612,000 after purchasing an additional 222,284 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Boston Properties during the 4th quarter valued at approximately $8,994,000. Wealthfront Advisers LLC increased its holdings in Boston Properties by 198.9% in the 4th quarter. Wealthfront Advisers LLC now owns 149,156 shares of the real estate investment trust's stock worth $11,091,000 after acquiring an additional 99,248 shares in the last quarter. NewSquare Capital LLC raised its stake in Boston Properties by 98.3% during the 1st quarter. NewSquare Capital LLC now owns 108,363 shares of the real estate investment trust's stock worth $7,281,000 after acquiring an additional 53,727 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Boston Properties by 12.5% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 170,504 shares of the real estate investment trust's stock worth $12,679,000 after purchasing an additional 18,900 shares during the period. Hedge funds and other institutional investors own 98.72% of the company's stock.

About Boston Properties

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.