Van ECK Associates Corp Boosts Stock Position in Boston Properties, Inc. (NYSE:BXP)

Van ECK Associates Corp lifted its position in Boston Properties, Inc. (NYSE:BXP) by 12.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,275 shares of the real estate investment trust’s stock after purchasing an additional 7,447 shares during the quarter. Van ECK Associates Corp’s holdings in Boston Properties were worth $6,024,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Boston Properties by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 23,568,962 shares of the real estate investment trust’s stock valued at $1,539,289,000 after acquiring an additional 122,583 shares during the last quarter. Earnest Partners LLC lifted its position in Boston Properties by 25.9% during the second quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock valued at $162,348,000 after purchasing an additional 542,610 shares during the period. Massachusetts Financial Services Co. MA grew its position in Boston Properties by 6.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,923,225 shares of the real estate investment trust’s stock worth $118,394,000 after purchasing an additional 120,650 shares during the period. Sei Investments Co. grew its position in Boston Properties by 32.9% during the 2nd quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock worth $92,567,000 after purchasing an additional 371,946 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Boston Properties by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,248,824 shares of the real estate investment trust’s stock valued at $76,878,000 after buying an additional 38,048 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Transactions at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total transaction of $351,410.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Boston Properties Trading Up 2.1 %

BXP stock opened at $82.62 on Friday. Boston Properties, Inc. has a 12-month low of $50.64 and a 12-month high of $90.11. The business’s 50-day moving average is $81.19 and its 200 day moving average is $70.16. The company has a current ratio of 5.51, a quick ratio of 4.83 and a debt-to-equity ratio of 2.01. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of 35.80, a PEG ratio of 0.55 and a beta of 1.18.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The firm had revenue of $859.23 million during the quarter, compared to analyst estimates of $829.91 million. During the same period in the prior year, the firm earned $1.86 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that Boston Properties, Inc. will post 7.1 EPS for the current fiscal year.

Boston Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend was Monday, September 30th. Boston Properties’s dividend payout ratio (DPR) is 169.70%.

Analyst Ratings Changes

BXP has been the topic of several analyst reports. Truist Financial raised their target price on Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Scotiabank reaffirmed a “sector perform” rating and set a $85.00 price objective on shares of Boston Properties in a research note on Thursday. Compass Point lifted their target price on shares of Boston Properties from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Piper Sandler raised shares of Boston Properties from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $78.00 to $105.00 in a report on Wednesday, October 23rd. Finally, UBS Group raised their price target on shares of Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $80.23.

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.