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Investing.com - UBS raised its price target on Boston Properties Inc. (NYSE:BXP) to $74.00 from $68.00 on Tuesday, while maintaining a Neutral rating on the stock. The office REIT, currently trading at $73.60 with a market capitalization of $13 billion, has shown strong momentum with a 13% return over the past six months. According to InvestingPro analysis, the stock appears slightly undervalued based on its Fair Value metrics.
The price target increase follows Boston Properties’ investor day, where the company outlined its strategy for occupancy gains and balance sheet improvement through strategic actions and operational execution.
UBS noted that Boston Properties is not making major changes to its strategy, reaffirming its commitment to gateway markets, central business districts, and top-tier buildings that represent the upper 10%-15% in its markets.
The firm identified Boston Properties’ largest opportunity as leasing its existing portfolio of 48.2 million square feet, which currently sits at 86.4% occupancy as of the second quarter of 2025—660 basis points below 2019 levels.
Boston Properties has projected a path to year-end occupancy of 89% by 2026 and 91% by 2027, according to UBS’s analysis of the company’s investor day presentation.
In other recent news, Boston Properties reported a notable performance in its Q2 2025 earnings call, surpassing expectations with an earnings per share of $0.56 against the forecasted $0.41. Despite this earnings beat, the company announced a significant reduction in its quarterly dividend, decreasing it by 29% as part of a strategic reset. The new dividend is set at $0.70 per share, payable on October 31. Piper Sandler responded to these developments by raising its price target for Boston Properties to $90, maintaining an Overweight rating, and recognizing the company’s portfolio reassessment amid higher capital costs. Conversely, Evercore ISI downgraded Boston Properties from Outperform to In Line, citing limited near-term upside potential after a recent 20% increase in the company’s stock price. Evercore also slightly increased its price target to $76. These recent developments highlight a mixed outlook for Boston Properties, with strategic changes and analyst perspectives shaping investor sentiment.
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