Citigroup Cuts BXP (NYSE:BXP) Price Target to $70.00

by · The Markets Daily

BXP (NYSE:BXP – Free Report) had its target price lowered by Citigroup from $75.00 to $70.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

A number of other brokerages have also commented on BXP. Mizuho cut their price objective on shares of BXP from $82.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, December 12th. Scotiabank upped their price target on BXP from $77.00 to $81.00 and gave the company a “sector perform” rating in a report on Thursday, November 13th. Evercore ISI decreased their price objective on BXP from $77.00 to $76.00 and set an “in-line” rating on the stock in a report on Friday, November 14th. Royal Bank Of Canada upgraded BXP to an “outperform” rating in a research note on Thursday, December 4th. Finally, Wells Fargo & Company reduced their target price on BXP from $77.00 to $74.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, BXP has a consensus rating of “Hold” and a consensus target price of $78.15.

Read Our Latest Stock Report on BXP

BXP Stock Performance

Shares of NYSE BXP opened at $67.96 on Wednesday. BXP has a 12 month low of $54.22 and a 12 month high of $79.33. The company has a market cap of $10.77 billion, a P/E ratio of -53.51, a P/E/G ratio of 7.86 and a beta of 1.01. The business’s 50 day moving average is $69.91 and its two-hundred day moving average is $70.58. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 2.26.

BXP (NYSE:BXP – Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.02. The business had revenue of $871.51 million for the quarter, compared to the consensus estimate of $860.88 million. BXP had a negative net margin of 5.82% and a positive return on equity of 1.35%. BXP’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company posted $1.81 earnings per share. BXP has set its FY 2025 guidance at 6.890-6.920 EPS. On average, equities analysts expect that BXP will post 6.91 EPS for the current year.

BXP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, December 31st. BXP’s dividend payout ratio is currently -220.47%.

Insider Buying and Selling

In other news, CFO Michael E. Labelle sold 13,422 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.34, for a total value of $970,947.48. Following the sale, the chief financial officer owned 9,223 shares in the company, valued at approximately $667,191.82. The trade was a 59.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Raymond A. Ritchey sold 36,314 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $72.18, for a total transaction of $2,621,144.52. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 70,710 shares of company stock valued at $5,107,771 in the last ninety days. Insiders own 1.49% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Truist Financial Corp grew its position in BXP by 1.2% during the 2nd quarter. Truist Financial Corp now owns 11,987 shares of the real estate investment trust’s stock worth $809,000 after acquiring an additional 145 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of BXP by 2.5% during the third quarter. Benjamin Edwards Inc. now owns 6,544 shares of the real estate investment trust’s stock worth $487,000 after purchasing an additional 159 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of BXP by 2.5% during the third quarter. Envestnet Portfolio Solutions Inc. now owns 6,476 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 160 shares during the last quarter. CVA Family Office LLC increased its stake in shares of BXP by 12.4% in the second quarter. CVA Family Office LLC now owns 2,055 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 226 shares in the last quarter. Finally, O ROURKE & COMPANY Inc raised its holdings in shares of BXP by 3.8% in the third quarter. O ROURKE & COMPANY Inc now owns 6,147 shares of the real estate investment trust’s stock valued at $457,000 after buying an additional 226 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

About BXP

(Get Free Report)

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.

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