Scotiabank Has Lowered Expectations for BXP (NYSE:BXP) Stock Price

BXP (NYSE:BXP - Get Free Report) had its target price cut by research analysts at Scotiabank from $83.00 to $81.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's target price suggests a potential upside of 13.83% from the stock's current price.

A number of other research firms have also issued reports on BXP. Truist Financial reduced their target price on BXP from $75.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, May 27th. Wells Fargo & Company reduced their target price on BXP from $80.00 to $78.00 and set an "overweight" rating for the company in a report on Monday, May 19th. UBS Group reduced their target price on BXP from $80.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Jefferies Financial Group initiated coverage on BXP in a report on Monday, March 17th. They issued a "buy" rating and a $78.00 target price for the company. Finally, Piper Sandler reduced their target price on BXP from $100.00 to $85.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $79.08.

BXP Price Performance

Shares of BXP traded up $0.39 during trading hours on Monday, hitting $71.16. 166,448 shares of the company were exchanged, compared to its average volume of 1,340,992. The company has a market capitalization of $11.27 billion, a PE ratio of -3,560.77, a PEG ratio of 5.79 and a beta of 1.15. The company has a debt-to-equity ratio of 2.04, a current ratio of 4.23 and a quick ratio of 4.23. The firm has a fifty day simple moving average of $68.61 and a 200-day simple moving average of $68.46. BXP has a one year low of $54.22 and a one year high of $90.11.

BXP (NYSE:BXP - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.01). The company had revenue of $865.22 million for the quarter, compared to the consensus estimate of $833.89 million. BXP had a positive return on equity of 3.72% and a negative net margin of 0.16%. The business's revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 earnings per share. As a group, sell-side analysts predict that BXP will post 6.91 earnings per share for the current year.

Hedge Funds Weigh In On BXP

Several institutional investors have recently bought and sold shares of BXP. Raymond James Financial Inc. bought a new position in BXP during the fourth quarter valued at about $8,994,000. Cibc World Markets Corp raised its holdings in BXP by 12.2% during the fourth quarter. Cibc World Markets Corp now owns 65,481 shares of the real estate investment trust's stock valued at $4,869,000 after buying an additional 7,100 shares in the last quarter. Whittier Trust Co. increased its stake in shares of BXP by 3.5% in the fourth quarter. Whittier Trust Co. now owns 306,783 shares of the real estate investment trust's stock worth $22,812,000 after purchasing an additional 10,429 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of BXP by 7.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 144,123 shares of the real estate investment trust's stock worth $10,717,000 after purchasing an additional 10,252 shares during the period. Finally, Huntington National Bank increased its stake in shares of BXP by 29.8% in the fourth quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust's stock worth $85,000 after purchasing an additional 263 shares during the period. 98.72% of the stock is currently owned by institutional investors.

About BXP

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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