Park Place Capital Corp Sells 256 Shares of Boston Properties, Inc. (NYSE:BXP)

Park Place Capital Corp trimmed its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 31.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 567 shares of the real estate investment trust’s stock after selling 256 shares during the period. Park Place Capital Corp’s holdings in Boston Properties were worth $37,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Mariner LLC raised its stake in Boston Properties by 20.1% in the 3rd quarter. Mariner LLC now owns 17,152 shares of the real estate investment trust’s stock valued at $1,020,000 after acquiring an additional 2,875 shares during the period. Treasurer of the State of North Carolina grew its holdings in Boston Properties by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 68,892 shares of the real estate investment trust’s stock valued at $4,098,000 after buying an additional 350 shares in the last quarter. Bank of Nova Scotia grew its holdings in Boston Properties by 15.3% during the 3rd quarter. Bank of Nova Scotia now owns 13,328 shares of the real estate investment trust’s stock valued at $793,000 after buying an additional 1,770 shares in the last quarter. Glenmede Trust Co. NA purchased a new position in Boston Properties during the 3rd quarter valued at about $713,000. Finally, Ameriprise Financial Inc. grew its holdings in Boston Properties by 86.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,957,055 shares of the real estate investment trust’s stock valued at $112,977,000 after buying an additional 906,069 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Boston Properties Stock Performance

Shares of BXP stock opened at $60.69 on Tuesday. The stock has a fifty day moving average of $61.09 and a 200 day moving average of $64.35. Boston Properties, Inc. has a 52 week low of $50.64 and a 52 week high of $73.97. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of 49.75, a PEG ratio of 0.38 and a beta of 1.18. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 1.91.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.22). The business had revenue of $839.44 million during the quarter, compared to analysts’ expectations of $808.68 million. Boston Properties had a return on equity of 2.35% and a net margin of 5.81%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 EPS. As a group, research analysts expect that Boston Properties, Inc. will post 7.04 earnings per share for the current year.

Boston Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 6.46%. The ex-dividend date of this dividend is Friday, June 28th. Boston Properties’s dividend payout ratio is currently 321.31%.

Wall Street Analysts Forecast Growth

BXP has been the subject of several recent analyst reports. Barclays cut their price objective on Boston Properties from $66.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, May 24th. BMO Capital Markets decreased their price objective on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. Morgan Stanley restated an “equal weight” rating and issued a $62.00 price objective on shares of Boston Properties in a research report on Thursday, June 20th. Evercore ISI decreased their price objective on shares of Boston Properties from $73.00 to $69.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Finally, Truist Financial reduced their price target on shares of Boston Properties from $75.00 to $67.00 and set a “hold” rating on the stock in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $69.60.

About Boston Properties

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.