Handelsinvest Investeringsforvaltning Sells 2,899 Shares of Boston Properties, Inc. (NYSE:BXP)

Handelsinvest Investeringsforvaltning cut its stake in Boston Properties, Inc. (NYSE:BXP) by 34.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,585 shares of the real estate investment trust’s stock after selling 2,899 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Boston Properties were worth $365,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BXP. Mariner LLC grew its holdings in shares of Boston Properties by 20.1% in the third quarter. Mariner LLC now owns 17,152 shares of the real estate investment trust’s stock worth $1,020,000 after purchasing an additional 2,875 shares during the last quarter. 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 worth $4,098,000 after acquiring 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 worth $793,000 after acquiring an additional 1,770 shares in the last quarter. Glenmede Trust Co. NA bought a new position in Boston Properties during the 3rd quarter worth 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 worth $112,977,000 after acquiring an additional 906,069 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Boston Properties Price Performance

Boston Properties stock opened at $61.43 on Thursday. The company’s fifty day moving average price is $61.05 and its 200 day moving average price is $64.19. Boston Properties, Inc. has a 1 year low of $50.64 and a 1 year high of $73.97. The stock has a market capitalization of $9.65 billion, a P/E ratio of 50.35, a P/E/G ratio of 0.38 and a beta of 1.18. The company has a debt-to-equity ratio of 1.91, a quick ratio of 4.77 and a current ratio of 4.77.

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

Boston Properties Dividend Announcement

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 issued a $0.98 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.92 dividend on an annualized basis and a yield of 6.38%. Boston Properties’s payout ratio is currently 321.31%.

Analyst Ratings Changes

Several brokerages have issued reports on BXP. Truist Financial dropped their target price on shares of Boston Properties from $75.00 to $67.00 and set a “hold” rating on the stock in a report on Friday, June 14th. StockNews.com cut shares of Boston Properties from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 target price on shares of Boston Properties in a report on Thursday, June 20th. Barclays decreased their price target on shares of Boston Properties from $66.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, May 24th. Finally, BMO Capital Markets decreased their price target on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Boston Properties currently has an average rating of “Hold” and a consensus target price of $69.60.

Boston Properties Profile

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.