BXP (NYSE:BXP) Price Target Cut to $66.00 by Analysts at Barclays

BXP (NYSE:BXP) had its price objective reduced by Barclays from $81.00 to $66.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target indicates a potential upside of 7.41% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. UBS Group decreased their price objective on shares of BXP from $74.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. KeyCorp upgraded shares of BXP from a “sector weight” rating to an “overweight” rating and set a $80.00 price objective on the stock in a research note on Thursday, December 4th. Royal Bank Of Canada raised shares of BXP to an “outperform” rating in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $70.00 price target on shares of BXP in a research report on Tuesday, January 6th. Finally, Citigroup reduced their target price on BXP from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.45.

BXP Trading Up 1.9%

BXP traded up $1.15 during trading on Thursday, hitting $61.45. 126,125 shares of the company’s stock were exchanged, compared to its average volume of 2,295,405. The company has a current ratio of 5.36, a quick ratio of 4.50 and a debt-to-equity ratio of 2.21. BXP has a 1 year low of $54.22 and a 1 year high of $79.33. The firm has a market cap of $9.74 billion, a P/E ratio of 35.28, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The stock has a 50 day moving average price of $65.35 and a 200 day moving average price of $69.52.

Insider Activity

In other BXP news, EVP Raymond A. Ritchey sold 36,314 shares of BXP stock in a transaction on Monday, December 1st. The shares were sold at an average price of $72.18, for a total value of $2,621,144.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Hilary J. Spann sold 1,194 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $63.31, for a total value of $75,592.14. Following the transaction, the executive vice president directly owned 17,832 shares in the company, valued at approximately $1,128,943.92. This trade represents a 6.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 38,706 shares of company stock valued at $2,770,078 in the last ninety days. 1.49% of the stock is owned by insiders.

Hedge Funds Weigh In On BXP

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in BXP during the fourth quarter worth about $689,419,000. Cohen & Steers Inc. increased its stake in shares of BXP by 41.4% in the fourth quarter. Cohen & Steers Inc. now owns 15,382,890 shares of the real estate investment trust’s stock valued at $1,038,176,000 after buying an additional 4,503,738 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of BXP by 32,286.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,889,115 shares of the real estate investment trust’s stock valued at $127,477,000 after acquiring an additional 1,883,282 shares during the last quarter. Invesco Ltd. raised its position in BXP by 44.9% during the 3rd quarter. Invesco Ltd. now owns 3,896,978 shares of the real estate investment trust’s stock worth $289,701,000 after purchasing an additional 1,207,607 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of BXP by 52.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,065,995 shares of the real estate investment trust’s stock worth $206,893,000 after acquiring an additional 1,053,938 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.