Boston Properties, Inc. (NYSE:BXP) EVP Sells $1,621,248.75 in Stock

Boston Properties, Inc. (NYSE:BXP) EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $74.25, for a total transaction of $1,621,248.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Boston Properties Stock Performance

Shares of Boston Properties stock opened at $78.61 on Friday. The firm has a 50 day simple moving average of $70.01 and a 200 day simple moving average of $64.69. Boston Properties, Inc. has a fifty-two week low of $50.64 and a fifty-two week high of $79.10. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.83. The firm has a market cap of $12.35 billion, a P/E ratio of 64.43, a P/E/G ratio of 0.35 and a beta of 1.18.

Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $819.49 million. During the same quarter in the previous year, the firm earned $1.86 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. Sell-side analysts predict that Boston Properties, Inc. will post 7.11 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 4.99%. The ex-dividend date is Monday, September 30th. Boston Properties’s dividend payout ratio is 321.31%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BXP. StockNews.com raised Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. 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. Wells Fargo & Company upped their target price on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday. Piper Sandler lifted their price target on shares of Boston Properties from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Finally, Wedbush upped their price objective on shares of Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.54.

Institutional Investors Weigh In On Boston Properties

Institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in shares of Boston Properties during the 1st quarter valued at $1,187,000. Cambridge Investment Research Advisors Inc. increased its holdings in Boston Properties by 387.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,825 shares of the real estate investment trust’s stock valued at $4,900,000 after purchasing an additional 55,501 shares during the last quarter. National Bank of Canada FI lifted its stake in Boston Properties by 50.5% in the fourth quarter. National Bank of Canada FI now owns 46,377 shares of the real estate investment trust’s stock valued at $3,343,000 after buying an additional 15,570 shares during the period. Perpetual Ltd bought a new position in Boston Properties during the first quarter worth about $1,205,000. Finally, SG Americas Securities LLC grew its position in shares of Boston Properties by 76.8% during the 2nd quarter. SG Americas Securities LLC now owns 110,242 shares of the real estate investment trust’s stock worth $6,786,000 after buying an additional 47,882 shares during the period. 98.72% of the stock is owned by institutional investors.

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.