Bank of New York Mellon Corp Acquires 38,048 Shares of Boston Properties, Inc. (NYSE:BXP)

Bank of New York Mellon Corp lifted its holdings in Boston Properties, Inc. (NYSE:BXP) by 3.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,248,824 shares of the real estate investment trust’s stock after purchasing an additional 38,048 shares during the period. Bank of New York Mellon Corp’s holdings in Boston Properties were worth $76,878,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Manchester Capital Management LLC increased its stake in Boston Properties by 435.9% during the fourth quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 340 shares during the period. Abich Financial Wealth Management LLC increased its stake in Boston Properties by 59.1% during the first quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 395 shares during the period. Principal Securities Inc. bought a new position in Boston Properties during the fourth quarter valued at about $93,000. Sound Income Strategies LLC increased its stake in Boston Properties by 198.1% during the first quarter. Sound Income Strategies LLC now owns 1,428 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 949 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new position in Boston Properties during the second quarter valued at about $91,000. 98.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.35% of the company’s stock.

Boston Properties Stock Up 0.2 %

Shares of BXP opened at $74.40 on Friday. The company has a market capitalization of $11.69 billion, a P/E ratio of 60.98, a PEG ratio of 0.46 and a beta of 1.18. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.77. Boston Properties, Inc. has a one year low of $50.64 and a one year high of $74.91. The business’s 50 day simple moving average is $67.00 and its 200-day simple moving average is $63.94.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The firm had revenue of $850.48 million for the quarter, compared to analyst estimates of $819.49 million. During the same period in the prior year, the company posted $1.86 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Boston Properties, Inc. will post 7.12 EPS for the current fiscal year.

Boston Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend was Friday, June 28th. Boston Properties’s dividend payout ratio is 321.31%.

Analyst Ratings Changes

A number of research firms have weighed in on BXP. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price objective on shares of Boston Properties in a report on Thursday, June 20th. Evercore ISI lifted their price objective on Boston Properties from $76.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday. Wedbush lifted their price objective on Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Truist Financial lifted their price objective on Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Scotiabank lifted their price objective on Boston Properties from $74.00 to $76.00 and gave the company a “sector outperform” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $71.92.

Boston Properties Company 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.