Scotiabank Cuts BXP (NYSE:BXP) Price Target to $74.00

by · The Cerbat Gem

BXP (NYSE:BXP – Get Free Report) had its price objective decreased by research analysts at Scotiabank from $81.00 to $74.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “sector performer” rating on the real estate investment trust’s stock. Scotiabank’s price objective would suggest a potential upside of 12.23% from the stock’s current price.

Several other research firms have also weighed in on BXP. Weiss Ratings reissued a “sell (d+)” rating on shares of BXP in a research note on Monday, December 29th. 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 report on Tuesday. New Street Research set a $85.00 price target on BXP in a research note on Monday, October 13th. The Goldman Sachs Group set a $77.00 price objective on BXP and gave the stock a “neutral” rating in a report on Friday, October 17th. Finally, Cantor Fitzgerald set a $79.00 target price on shares of BXP in a report on Monday, January 5th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, BXP presently has a consensus rating of “Hold” and an average price target of $77.95.

Read Our Latest Stock Report on BXP

BXP Price Performance

NYSE BXP traded down $0.39 on Wednesday, reaching $65.94. 784,643 shares of the stock traded hands, compared to its average volume of 1,517,373. BXP has a 12 month low of $54.22 and a 12 month high of $79.33. The company has a market cap of $10.45 billion, a price-to-earnings ratio of -51.95, a P/E/G ratio of 7.84 and a beta of 1.01. The firm’s fifty day simple moving average is $69.77 and its 200 day simple 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 for the quarter, beating the consensus estimate of $1.72 by $0.02. The business had revenue of $871.51 million during the quarter, compared to analyst estimates of $860.88 million. BXP had a positive return on equity of 1.35% and a negative net margin of 5.82%.The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.81 earnings per share. BXP has set its FY 2025 guidance at 6.890-6.920 EPS. As a group, research analysts predict that BXP will post 6.91 EPS for the current fiscal year.

Insider Activity at BXP

In other BXP news, EVP Peter V. Otteni sold 4,136 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $72.65, for a total value of $300,480.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Raymond A. Ritchey sold 36,314 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $72.18, for a total value of $2,621,144.52. The SEC filing for this sale provides additional information. Insiders have sold 70,710 shares of company stock worth $5,107,771 in the last quarter. 1.35% of the stock is owned by corporate insiders.

Institutional Trading of BXP

Large investors have recently made changes to their positions in the stock. Loomis Sayles & Co. L P bought a new stake in BXP in the 2nd quarter valued at $25,000. Muzinich & Co. Inc. acquired a new position in shares of BXP during the third quarter valued at about $27,000. MUFG Securities EMEA plc bought a new stake in shares of BXP in the second quarter valued at about $29,000. REAP Financial Group LLC lifted its stake in shares of BXP by 193.2% in the second quarter. REAP Financial Group LLC now owns 472 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 311 shares during the period. Finally, Avalon Trust Co acquired a new stake in BXP during the third quarter worth about $36,000. 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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