Everence Capital Management Inc. Decreases Holdings in Boston Properties, Inc. (NYSE:BXP)

Everence Capital Management Inc. cut its stake in Boston Properties, Inc. (NYSE:BXP) by 38.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,690 shares of the real estate investment trust’s stock after selling 2,950 shares during the quarter. Everence Capital Management Inc.’s holdings in Boston Properties were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BXP. Earnest Partners LLC raised its holdings in shares of Boston Properties by 25.9% during the 2nd quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock valued at $162,348,000 after buying an additional 542,610 shares during the period. Sei Investments Co. raised its stake in shares of Boston Properties by 32.9% during the second quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock valued at $92,567,000 after purchasing an additional 371,946 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Boston Properties during the second quarter worth $12,914,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Boston Properties by 6.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,923,225 shares of the real estate investment trust’s stock valued at $118,394,000 after purchasing an additional 120,650 shares during the period. Finally, Sun Life Financial Inc. acquired a new stake in Boston Properties during the 3rd quarter valued at $9,674,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Boston Properties Stock Performance

Shares of NYSE BXP opened at $71.98 on Tuesday. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. The firm’s 50-day moving average price is $79.14 and its two-hundred day moving average price is $75.59. Boston Properties, Inc. has a 52-week low of $56.46 and a 52-week high of $90.11. The stock has a market capitalization of $11.38 billion, a P/E ratio of 31.16, a P/E/G ratio of 0.55 and a beta of 1.18.

Boston Properties (NYSE:BXP) last released its quarterly earnings data 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 net margin of 10.75% and a return on equity of 4.40%. The company had revenue of $859.23 million for the quarter, compared to analyst estimates of $829.91 million. During the same quarter in the prior year, the firm earned $1.86 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Boston Properties, Inc. will post 7.1 earnings per share for the current year.

Boston Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 5.45%. The ex-dividend date is Tuesday, December 31st. Boston Properties’s dividend payout ratio (DPR) is presently 169.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BXP. Barclays boosted their price objective on shares of Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Evercore ISI raised their price objective on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Wedbush cut Boston Properties from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $81.00 to $70.00 in a research note on Thursday, January 2nd. Piper Sandler upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $78.00 to $105.00 in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group cut their price target on shares of Boston Properties from $93.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $81.69.

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.