BXP (NYSE:BXP) Price Target Cut to $79.00 by Analysts at JPMorgan Chase & Co.

BXP (NYSE:BXP) had its price objective lowered by JPMorgan Chase & Co. from $82.00 to $79.00 in a research report report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the real estate investment trust’s stock.

BXP has been the topic of several other research reports. Piper Sandler cut their target price on BXP from $87.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $79.00 price target on shares of BXP in a research report on Thursday, January 29th. Evercore lowered their price target on shares of BXP from $76.00 to $73.00 and set an “in-line” rating on the stock in a report on Thursday, January 29th. Mizuho downgraded shares of BXP from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $79.00 to $62.00 in a research report on Tuesday, February 24th. Finally, Barclays reduced their price objective on shares of BXP from $81.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, BXP has an average rating of “Hold” and a consensus target price of $74.10.

BXP Trading Down 1.7%

Shares of NYSE:BXP opened at $51.04 on Wednesday. The company has a market capitalization of $8.10 billion, a PE ratio of 29.33, a P/E/G ratio of 2.21 and a beta of 1.02. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 2.21. BXP has a 12-month low of $49.72 and a 12-month high of $79.33. The business’s fifty day simple moving average is $58.25 and its 200-day simple moving average is $66.60.

BXP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a $0.70 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.80 dividend on an annualized basis and a yield of 5.5%. BXP’s dividend payout ratio (DPR) is 160.92%.

Insider Activity

In other news, EVP Hilary J. Spann sold 5,495 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $59.69, for a total transaction of $327,996.55. Following the transaction, the executive vice president owned 17,832 shares in the company, valued at $1,064,392.08. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Owen D. Thomas sold 1,198 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $61.22, for a total transaction of $73,341.56. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 7,887 shares of company stock valued at $476,930. Corporate insiders own 1.49% of the company’s stock.

Institutional Trading of BXP

Several large investors have recently bought and sold shares of BXP. Loomis Sayles & Co. L P acquired a new position in BXP during the 2nd quarter valued at approximately $25,000. Muzinich & Co. Inc. purchased a new position in shares of BXP in the third quarter worth $27,000. Elyxium Wealth LLC acquired a new stake in shares of BXP during the fourth quarter worth $25,000. Princeton Global Asset Management LLC lifted its stake in shares of BXP by 892.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 397 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 357 shares during the period. Finally, MUFG Securities EMEA plc purchased a new stake in shares of BXP during the second quarter valued at $29,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

About BXP

Boston Properties, Inc (NYSE: BXP) is a publicly traded real estate investment trust (REIT) specializing in the ownership, management, and development of Class A office properties across major U.S. markets. Headquartered in Boston, Massachusetts, the company’s portfolio comprises high-quality office buildings, mixed-use developments and select retail assets designed to serve leading corporations in key metropolitan areas.

Established in 1970 by Mortimer B. Zuckerman, Boston Properties has grown through disciplined acquisitions and strategic ground-up developments.