BXP (NYSE:BXP) Price Target Lowered to $81.00 at Scotiabank

BXP (NYSE:BXP - Free Report) had its price objective trimmed by Scotiabank from $83.00 to $81.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust's stock.

BXP has been the topic of several other reports. BMO Capital Markets reiterated an "outperform" rating and issued a $86.00 price target (up from $85.00) on shares of BXP in a research report on Monday, June 23rd. JPMorgan Chase & Co. upgraded shares of BXP from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $72.00 to $78.00 in a research report on Monday, June 23rd. UBS Group dropped their price target on shares of BXP from $80.00 to $68.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Jefferies Financial Group assumed coverage on shares of BXP in a research report on Monday, March 17th. They issued a "buy" rating and a $78.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on shares of BXP from $80.00 to $78.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, BXP has an average rating of "Hold" and a consensus target price of $78.07.

BXP Price Performance

BXP stock traded down $1.39 during trading on Monday, hitting $68.71. The company had a trading volume of 548,327 shares, compared to its average volume of 1,341,992. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of -3,432.78, a P/E/G ratio of 5.72 and a beta of 1.15. The business has a 50 day moving average of $68.98 and a 200 day moving average of $68.46. BXP has a fifty-two week low of $54.22 and a fifty-two week high of $90.11. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 2.04.

BXP (NYSE:BXP - Get Free Report) last posted 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). BXP had a positive return on equity of 3.72% and a negative net margin of 0.16%. The company had revenue of $865.22 million during the quarter, compared to analyst estimates of $833.89 million. During the same period in the previous year, the company earned $1.73 EPS. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, research analysts predict that BXP will post 6.91 earnings per share for the current year.

BXP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.98 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.71%. BXP's dividend payout ratio is -19,600.00%.

Hedge Funds Weigh In On BXP

A number of large investors have recently made changes to their positions in BXP. Canada Post Corp Registered Pension Plan acquired a new position in shares of BXP in the 4th quarter valued at about $32,000. Sentry Investment Management LLC acquired a new position in shares of BXP in the 1st quarter valued at about $34,000. Huntington National Bank increased its holdings in shares of BXP by 29.8% in the 4th quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 263 shares during the period. Hurley Capital LLC acquired a new position in shares of BXP in the 4th quarter valued at about $94,000. Finally, CX Institutional increased its holdings in shares of BXP by 24.6% in the 2nd quarter. CX Institutional now owns 1,526 shares of the real estate investment trust's stock valued at $103,000 after purchasing an additional 301 shares during the period. Institutional investors and hedge funds own 98.72% of the company's stock.

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.