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Investing.com - KeyBanc maintained its Sector Weight rating on Boston Properties Inc. (NYSE:BXP), a $13 billion market cap office REIT, following the company’s Investor Day presentation on Monday. According to InvestingPro data, the stock has shown strong momentum with a nearly 16% return over the past six months.
The investment firm noted that Boston Properties management outlined its execution strategy through 2027 during the event. This roadmap includes plans to lease additional space, focus on existing properties, and pursue select office and residential development opportunities.
Boston Properties also intends to recycle capital through property dispositions and increase retained earnings by reducing its dividend, according to KeyBanc’s analysis of the presentation.
The research firm acknowledged that Boston Properties presented "a solid plan to improve portfolio fundamentals, reduce its leverage, and position BXP to return to growth" in the coming years.
Despite these positive elements, KeyBanc observed that earnings growth for Boston Properties "may trend below prior expectations" in the near term, contributing to its decision to maintain the Sector Weight rating.
In other recent news, Boston Properties has been the focus of several analyst updates. Piper Sandler raised its price target for Boston Properties to $90 from $80, maintaining an Overweight rating, despite the company’s announcement of a roughly 30% dividend reduction. UBS also increased its price target to $74 from $68, citing Boston Properties’ strategy for occupancy gains and balance sheet improvement. Truist Securities adjusted its price target to $77 from $71 while keeping a Hold rating, following the company’s investor day that highlighted its focus on trophy properties. Meanwhile, BMO Capital lowered its price target to $84 from $86 but maintained an Outperform rating, noting management’s optimism about occupancy growth. Evercore ISI downgraded the stock to In Line from Outperform, slightly raising the price target to $76 from $75, after observing a significant 20% increase in the stock price over the past month. These developments reflect varied analyst perspectives on Boston Properties’ strategic direction and market performance.
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