BXP (NYSE:BXP) Given New $74.00 Price Target at Wells Fargo & Company

BXP (NYSE:BXP) had its price target reduced by research analysts at Wells Fargo & Company from $77.00 to $74.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 2.17% from the company’s previous close.

Several other analysts have also recently issued reports on BXP. Compass Point cut BXP from a “buy” rating to a “neutral” rating and set a $75.00 target price on the stock. in a research report on Wednesday, September 10th. New Street Research set a $85.00 price objective on BXP in a research note on Monday, October 13th. The Goldman Sachs Group set a $77.00 target price on BXP and gave the company a “neutral” rating in a research note on Friday, October 17th. BMO Capital Markets reduced their target price on shares of BXP from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. Finally, Piper Sandler increased their price target on shares of BXP from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, September 9th. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, BXP presently has an average rating of “Hold” and a consensus price target of $79.26.

BXP Trading Up 2.5%

BXP traded up $1.77 during trading hours on Tuesday, reaching $72.43. 403,497 shares of the company’s stock traded hands, compared to its average volume of 1,630,903. The firm has a 50-day moving average price of $72.62 and a 200 day moving average price of $70.48. BXP has a 52-week low of $54.22 and a 52-week high of $84.75. The company has a quick ratio of 3.76, a current ratio of 4.50 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $11.48 billion, a PE ratio of -57.02, a PEG ratio of 7.35 and a beta of 1.20.

BXP (NYSE:BXP) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.02. The business had revenue of $871.51 million for the quarter, compared to analyst estimates of $860.88 million. BXP had a negative net margin of 5.82% and a positive return on equity of 1.35%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company posted $1.81 earnings per share. BXP has set its FY 2025 guidance at 6.890-6.920 EPS. As a group, sell-side analysts predict that BXP will post 6.91 EPS for the current fiscal year.

Insider Activity at BXP

In other news, CFO Michael E. Labelle sold 13,422 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $72.34, for a total transaction of $970,947.48. Following the sale, the chief financial officer owned 9,223 shares of the company’s stock, valued at $667,191.82. This trade represents a 59.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John J. Stroman sold 16,838 shares of BXP stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $72.17, for a total value of $1,215,198.46. Additional details regarding this sale are available in the official SEC disclosure. 1.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BXP

Large investors have recently modified their holdings of the business. Loomis Sayles & Co. L P purchased a new position in BXP during the second quarter worth approximately $25,000. Muzinich & Co. Inc. purchased a new stake in BXP in the 3rd quarter valued at $27,000. MUFG Securities EMEA plc acquired a new stake in shares of BXP in the 2nd quarter worth $29,000. REAP Financial Group LLC increased its stake in shares of BXP by 193.2% in the 2nd quarter. REAP Financial Group LLC now owns 472 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 311 shares during the last quarter. Finally, Avalon Trust Co purchased a new position in shares of BXP during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.