BXP (NYSE:BXP) Stock Gets Price Target Reduction from UBS Group

BXP (NYSE:BXP) had its price objective lowered by research analysts at UBS Group from $70.00 to $66.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group‘s price target would indicate a potential upside of 4.62% from the company’s previous close.

A number of other analysts also recently weighed in on BXP. Truist Financial increased their target price on shares of BXP from $64.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, September 9th. Citigroup boosted their price target on shares of BXP from $58.00 to $69.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Deutsche Bank reaffirmed a “hold” rating on shares of BXP in a research note on Wednesday, August 12th. Piper Sandler upped their price objective on shares of BXP from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. Finally, Scotiabank decreased their price objective on shares of BXP from $76.00 to $73.00 and set an “outperform” rating for the company in a research report on Thursday, September 17th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, BXP presently has an average rating of “Moderate Buy” and an average target price of $72.31.

BXP Trading Up 0.3%

BXP traded up $0.20 during midday trading on Friday, hitting $63.09. 154,409 shares of the company were exchanged, compared to its average volume of 1,818,845. The firm has a market capitalization of $10.08 billion, a P/E ratio of 18.90, a P/E/G ratio of 2.13 and a beta of 1.03. BXP has a 1-year low of $49.72 and a 1-year high of $74.94. The firm’s 50 day moving average price is $62.35 and its 200-day moving average price is $62.05. The company has a quick ratio of 3.91, a current ratio of 4.93 and a debt-to-equity ratio of 2.17.

BXP (NYSE:BXP) last released its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.21. The firm had revenue of $911.43 million for the quarter, compared to analyst estimates of $892.51 million. BXP had a return on equity of 6.89% and a net margin of 14.99%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.74 EPS. As a group, equities analysts forecast that BXP will post 7.07 EPS for the current fiscal year.

Hedge Funds Weigh In On BXP

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of BXP during the 2nd quarter worth approximately $1,192,349,000. Bank of America Corp DE bought a new position in BXP during the second quarter worth $186,471,000. Dimensional Fund Advisors LP grew its holdings in BXP by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,344,421 shares of the real estate investment trust’s stock worth $121,677,000 after purchasing an additional 51,843 shares during the period. Sei Investments Co. grew its holdings in BXP by 1.8% in the first quarter. Sei Investments Co. now owns 2,000,667 shares of the real estate investment trust’s stock worth $103,835,000 after purchasing an additional 35,823 shares during the period. Finally, Legal & General Group Plc bought a new stake in BXP in the second quarter valued at $83,987,000. 98.72% of the stock is owned by institutional investors and hedge funds.

BXP Company Profile

BXP, Inc. is a real estate investment trust that owns, develops and manages commercial real estate, with a focus on office properties and workplaces. Its portfolio also includes complementary mixed-use properties and related amenities. The company operates in major U.S. markets, including Boston, New York, Washington, D.C., San Francisco and Los Angeles. Its business includes leasing space to companies and overseeing the development and management of its properties. Founded in 1970 as Boston Properties, the company adopted the BXP name in 2023.