Wells Fargo & Company Cuts Boston Properties (NYSE:BXP) Price Target to $78.00

Boston Properties (NYSE:BXP) had its price target lowered by equities researchers at Wells Fargo & Company from $80.00 to $78.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 15.73% from the stock’s current price.

Other analysts have also issued reports about the company. Scotiabank reduced their target price on Boston Properties from $85.00 to $83.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Barclays cut their price target on shares of Boston Properties from $89.00 to $79.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Jefferies Financial Group began coverage on shares of Boston Properties in a research note on Monday, March 17th. They issued a “buy” rating and a $78.00 price objective on the stock. UBS Group cut their target price on Boston Properties from $80.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Finally, Wedbush downgraded Boston Properties from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Boston Properties has an average rating of “Hold” and an average price target of $78.67.

Boston Properties Stock Performance

BXP opened at $67.40 on Monday. The company has a debt-to-equity ratio of 2.09, a current ratio of 5.69 and a quick ratio of 5.51. The company has a market capitalization of $10.67 billion, a PE ratio of 674.07, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12. The business has a fifty day simple moving average of $64.83 and a 200 day simple moving average of $71.35. Boston Properties has a 1 year low of $54.22 and a 1 year high of $90.11.

Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.01). Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. The business had revenue of $865.22 million for the quarter, compared to analyst estimates of $833.89 million. During the same quarter in the previous year, the company earned $1.73 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. Research analysts expect that Boston Properties will post 6.91 EPS for the current year.

Insider Transactions at Boston Properties

In related news, EVP Donna D. Garesche sold 2,143 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $67.87, for a total value of $145,445.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.49% of the company’s stock.

Institutional Investors Weigh In On Boston Properties

A number of institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group raised its stake in shares of Boston Properties by 19.8% during the fourth quarter. Brooklyn Investment Group now owns 858 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 142 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Boston Properties by 1.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 8,731 shares of the real estate investment trust’s stock valued at $650,000 after buying an additional 156 shares during the period. Huntington National Bank raised its position in shares of Boston Properties by 29.8% during the fourth quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 263 shares during the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in shares of Boston Properties in the fourth quarter worth approximately $32,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Boston Properties by 4.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 11,215 shares of the real estate investment trust’s stock worth $754,000 after acquiring an additional 441 shares during the period. 98.72% of the stock is 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.