Morgan Stanley Increases BXP (NYSE:BXP) Price Target to $65.00

BXP (NYSE:BXP) had its price objective increased by analysts at Morgan Stanley from $62.00 to $65.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price objective suggests a potential downside of 7.11% from the company’s previous close.

BXP has been the subject of several other research reports. Mizuho set a $82.00 price objective on shares of BXP and gave the company an “outperform” rating in a research note on Monday. BMO Capital Markets reiterated an “outperform” rating and issued a $86.00 price objective (up previously from $85.00) on shares of BXP in a research note on Monday, June 23rd. Truist Financial reduced their price objective on shares of BXP from $75.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, May 27th. Scotiabank dropped their target price on shares of BXP from $83.00 to $81.00 and set a “sector perform” rating for the company in a report on Monday. Finally, Piper Sandler dropped their target price on shares of BXP from $100.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $78.07.

BXP Stock Down 1.8%

BXP stock opened at $69.98 on Wednesday. BXP has a one year low of $54.22 and a one year high of $90.11. The stock has a market capitalization of $11.08 billion, a PE ratio of -3,497.10, a price-to-earnings-growth ratio of 5.83 and a beta of 1.15. The company has a debt-to-equity ratio of 2.04, a quick ratio of 4.23 and a current ratio of 4.23. The company has a fifty day moving average of $68.86 and a 200-day moving average of $68.45.

BXP (NYSE:BXP) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.64 EPS 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 firm had revenue of $865.22 million during the quarter, compared to analyst estimates of $833.89 million. During the same quarter last year, the business posted $1.73 EPS. The firm’s revenue was up 3.1% on a year-over-year basis. As a group, analysts expect that BXP will post 6.91 EPS for the current year.

Institutional Investors Weigh In On BXP

Several hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its position in shares of BXP by 0.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,001,208 shares of the real estate investment trust’s stock worth $134,461,000 after acquiring an additional 17,385 shares during the last quarter. Deutsche Bank AG boosted its position in shares of BXP by 30.6% in the fourth quarter. Deutsche Bank AG now owns 949,603 shares of the real estate investment trust’s stock worth $70,612,000 after acquiring an additional 222,284 shares during the last quarter. Whittier Trust Co. boosted its position 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 acquiring an additional 10,429 shares during the last quarter. Nuveen LLC acquired a new position in BXP during the first quarter valued at approximately $14,737,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in BXP by 7.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 144,123 shares of the real estate investment trust’s stock valued at $10,717,000 after buying an additional 10,252 shares in the last quarter. 98.72% of the stock is 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.