Recent changes in ownership of Boston Properties has seen several hedge funds increase their shares. Point72 Asia Singapore raised its shares by 212.1%, owning 568 shares valued at $35,000 after buying 386 more. UMB Bank’s stake grew by 115.5% to 709 shares worth $44,000. Abich Financial’s holdings increased by 59.1% to 1,063 shares valued at $69,000. Northwestern Mutual Wealth Management raised its stake by 61.4% to 1,438 shares valued at $89,000. 1620 Investment Advisors also bought shares worth about $91,000. Overall, institutional investors and hedge funds hold 98.72% of the stock.
Boston Properties Stock Update
BXP opened at $79.90. The market cap is $12.55 billion with a PE ratio of 65.49. It has a quick ratio and current ratio of 4.83 and a debt-to-equity ratio of 1.90. The 50-day moving average is $74.69 and the 200-day is $66.61. The stock’s 52-week low is $50.64, and high is $83.85.
On July 30, Boston Properties reported $0.51 EPS, missing estimates of $1.72. Revenue was $850.48 million, beating expectations. The companys net margin is 5.01% with a return on equity of 2.05%. Analysts anticipate 7.11 EPS for the year.
Dividend Announcement
The company will pay a dividend of $0.98 on October 31. Shareholders on record by September 30 will receive this, resulting in an annualized dividend of $3.92, with a yield of 4.91%. The dividend payout ratio is currently 321.31%.
Analyst Ratings
Analysts have mixed opinions on BXP. Morgan Stanley rates it as equal weight with a target of $62.00. Wedbush increased its price target to $70.00. Truist and Wells Fargo raised targets to $77.00 and $80.00, respectively. StockNews.com upgraded from sell to hold. Overall, the stock holds a Hold rating with an average price target of $74.83 according to MarketBeat.com.
Read Our Latest Report on Boston Properties
Insider Transactions
EVP Raymond A. Ritchey sold 21,835 shares on September 9 for $1,621,248.75. EVP Peter V. Otteni sold 4,785 shares on August 23 for $351,410.40. Insiders own 1.35% of the companys shares.
Boston Properties Overview
Boston Properties, Inc (NYSE: BXP) is the largest public developer, owner, and manager of premium workplaces in the U.S., focused in six markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC.
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