Scotiabank Lowers BXP (NYSE:BXP) Price Target to $65.00

BXP (NYSE:BXP) had its target price decreased by Scotiabank from $74.00 to $65.00 in a report issued on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 15.99% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $70.00 price target on shares of BXP in a research report on Tuesday, January 6th. Truist Financial lowered their target price on BXP from $74.00 to $70.00 and set a “hold” rating for the company in a research report on Monday, February 2nd. Citigroup cut their target price on BXP from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of BXP in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. decreased their price target on BXP from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $75.00.

BXP Price Performance

Shares of NYSE:BXP traded down $1.54 during midday trading on Monday, hitting $56.04. The stock had a trading volume of 431,307 shares, compared to its average volume of 2,699,831. The company’s 50-day moving average price is $64.97 and its 200-day moving average price is $69.50. BXP has a fifty-two week low of $54.22 and a fifty-two week high of $79.33. The company has a quick ratio of 4.50, a current ratio of 5.36 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $8.88 billion, a P/E ratio of 32.09, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01.

Insider Buying and Selling at BXP

In other news, EVP Hilary J. Spann sold 1,194 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $63.31, for a total value of $75,592.14. Following the completion of the sale, the executive vice president directly owned 17,832 shares in the company, valued at $1,128,943.92. This trade represents a 6.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Owen D. Thomas sold 1,198 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $61.22, for a total value of $73,341.56. The disclosure for this sale is available in the SEC filing. 1.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BXP

Hedge funds and other institutional investors have recently modified their holdings of the company. Loomis Sayles & Co. L P purchased a new stake in shares of BXP in the second quarter valued at about $25,000. Elyxium Wealth LLC bought a new stake in BXP in the 4th quarter worth about $25,000. Muzinich & Co. Inc. purchased a new stake in BXP in the 3rd quarter valued at about $27,000. Princeton Global Asset Management LLC lifted its position in shares of BXP by 892.5% during the 4th 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 in the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in shares of BXP in the 2nd quarter worth approximately $29,000. 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.