Several hedge funds have recently adjusted their investments in Boston Properties. For instance, Point72 Asia Singapore increased its holdings by 212.1%, owning 568 shares worth $35,000 after buying 386 more. UMB Bank also raised its stake by 115.5%, now having 709 shares valued at $44,000. Abich Financial increased its ownership by 59.1% to 1,063 shares worth $69,000, and Northwestern Mutual Wealth Management boosted its position by 61.4%, owning 1,438 shares valued at $89,000. Additionally, 1620 Investment Advisors bought shares worth about $91,000. Overall, 98.72% of the stock is held by institutional investors and hedge funds.
Boston Properties Stock Update
Boston Properties (BXP) opened at $79.90. The company has a market cap of $12.55 billion and financial ratios including a PE ratio of 65.49 and a debt-to-equity ratio of 1.90. It has a 52-week range of $50.64 to $83.85.
Recently, Boston Properties reported earnings of $0.51 per share for the last quarter, falling short of expectations of $1.72. However, revenue reached $850.48 million, up 4.1% from the same quarter last year.
Dividend Announcement
The company declared a quarterly dividend of $0.98, payable on October 31st to shareholders on record as of September 30th. This yields an annualized dividend of $3.92, with a payout ratio of 321.31%.
Analyst Ratings
Analysts have varied opinions on BXP’s stock. Morgan Stanley set a target price of $62, while others like Wedbush and Truist Financial raised their targets to $70 and $77, respectively. Overall, the stock holds a consensus rating of “Hold” with an average target price of $74.83.
Insider Activity
Insider sales include EVP Raymond A. Ritchey selling 21,835 shares for $1.62 million and EVP Peter V. Otteni selling 4,785 shares for $351,410. Insiders own 1.35% of the company’s stock.
Company Overview
Boston Properties, Inc. (NYSE: BXP) is a leading developer and manager of high-quality workspaces in major U.S. markets such as Boston, Los Angeles, and New York.
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