Boston Properties (NYSE:BXP) Price Target Cut to $86.00 by Analysts at Mizuho

Boston Properties (NYSE:BXP) had its price objective cut by equities research analysts at Mizuho from $92.00 to $86.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Mizuho’s target price suggests a potential upside of 19.48% from the stock’s current price.

Several other brokerages also recently issued reports on BXP. Wedbush downgraded shares of Boston Properties from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $81.00 to $70.00 in a research report on Thursday, January 2nd. Barclays upped their target price on shares of Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Compass Point raised Boston Properties from a “neutral” rating to a “buy” rating and lifted their price target for the company from $80.00 to $88.00 in a research note on Thursday, November 14th. Scotiabank reaffirmed a “sector perform” rating and set a $85.00 price objective on shares of Boston Properties in a research report on Thursday, November 7th. Finally, Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Boston Properties presently has a consensus rating of “Hold” and an average target price of $82.00.

Boston Properties Stock Performance

BXP stock opened at $71.98 on Tuesday. Boston Properties has a 1-year low of $56.46 and a 1-year high of $90.11. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 2.01. The firm has a market cap of $11.38 billion, a PE ratio of 31.16, a P/E/G ratio of 0.55 and a beta of 1.18. The business’s 50-day moving average price is $79.14 and its two-hundred day moving average price is $75.59.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.28). Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The business had revenue of $859.23 million for the quarter, compared to the consensus estimate of $829.91 million. During the same quarter last year, the firm earned $1.86 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, research analysts forecast that Boston Properties will post 7.1 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC lifted its stake in Boston Properties by 0.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,479 shares of the real estate investment trust’s stock valued at $1,261,000 after purchasing an additional 150 shares during the last quarter. Mystic Asset Management Inc. boosted its stake in shares of Boston Properties by 3.1% during the 2nd quarter. Mystic Asset Management Inc. now owns 5,541 shares of the real estate investment trust’s stock worth $341,000 after acquiring an additional 165 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Boston Properties by 0.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 63,629 shares of the real estate investment trust’s stock worth $3,917,000 after acquiring an additional 175 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Boston Properties by 212.1% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 386 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Boston Properties by 61.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 547 shares during the period. Institutional investors own 98.72% of the company’s stock.

About Boston Properties

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.