Piper Sandler Has Lowered Expectations for BXP (NYSE:BXP) Stock Price

Key Points

• Piper Sandler has reduced its target price for BXP stock from $85.00 to $80.00, maintaining an "overweight" rating, indicating a potential upside of 21.42% from the current price.
• Multiple analysts have lowered their price targets for BXP, with Truist Financial setting a target of $71.00 and Mizuho lowering theirs to $82.00, amidst a general consensus rating of "Hold" for the stock.
• BXP reported a net margin of 0.11% and achieved revenue of $868.46 million in its last quarterly earnings, surpassing analysts' expectations while seeing a year-over-year revenue improvement of 2.1%.

BXP (NYSE:BXP - Get Free Report) had its target price decreased by equities researchers at Piper Sandler from $85.00 to $80.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the real estate investment trust's stock. Piper Sandler's price objective would suggest a potential upside of 21.42% from the stock's current price.

A number of other equities analysts have also commented on the stock. Truist Financial lowered their price target on shares of BXP from $75.00 to $71.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Mizuho lowered their price target on shares of BXP from $86.00 to $82.00 and set an "outperform" rating on the stock in a research report on Monday, July 14th. Wall Street Zen raised shares of BXP from a "sell" rating to a "hold" rating in a research report on Saturday. UBS Group decreased their target price on shares of BXP from $80.00 to $68.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Finally, Morgan Stanley raised their target price on shares of BXP from $62.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $77.71.

BXP Stock Performance

NYSE:BXP traded up $1.27 during mid-day trading on Monday, reaching $65.89. 682,464 shares of the company's stock were exchanged, compared to its average volume of 1,530,504. BXP has a one year low of $54.22 and a one year high of $90.11. The firm has a market capitalization of $10.43 billion, a PE ratio of 2,197.13, a price-to-earnings-growth ratio of 5.28 and a beta of 1.17. The business's fifty day simple moving average is $69.74 and its two-hundred day simple moving average is $68.18. The company has a debt-to-equity ratio of 2.06, a quick ratio of 4.23 and a current ratio of 3.76.

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

Institutional Investors Weigh In On BXP

Several hedge funds have recently added to or reduced their stakes in BXP. Huntington National Bank boosted its position in BXP by 29.8% during the 4th quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust's stock worth $85,000 after buying an additional 263 shares during the period. Heritage Trust Co acquired a new stake in BXP during the 4th quarter worth approximately $210,000. Canada Post Corp Registered Pension Plan acquired a new stake in BXP during the 4th quarter worth approximately $32,000. Kelly Lawrence W & Associates Inc. CA boosted its position in BXP by 75.4% during the 4th quarter. Kelly Lawrence W & Associates Inc. CA now owns 2,500 shares of the real estate investment trust's stock worth $186,000 after buying an additional 1,075 shares during the period. Finally, Deutsche Bank AG boosted its position in BXP by 30.6% during the 4th quarter. Deutsche Bank AG now owns 949,603 shares of the real estate investment trust's stock worth $70,612,000 after buying an additional 222,284 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

BXP 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.

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