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 business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The sale was disclosed in a filing with the SEC, which is available through this link.

Boston Properties Price Performance

Shares of BXP opened at $76.29 on Thursday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83. The firm has a market capitalization of $11.98 billion, a PE ratio of 62.53, a P/E/G ratio of 0.35 and a beta of 1.18. The stock has a 50 day simple moving average of $69.67 and a 200 day simple moving average of $64.59. Boston Properties, Inc. has a 52-week low of $50.64 and a 52-week high of $76.37.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The company had revenue of $850.48 million during the quarter, compared to analyst estimates of $819.49 million. During the same quarter last year, the company earned $1.86 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Sell-side analysts predict that Boston Properties, Inc. will post 7.11 EPS for the current fiscal year.

Boston Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 5.14%. The ex-dividend date is Monday, September 30th. Boston Properties’s dividend payout ratio is 321.31%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BXP. Vanguard Group Inc. lifted its stake in 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 in the last quarter. Norges Bank bought a new stake in shares of Boston Properties in the fourth quarter worth $890,848,000. Allspring Global Investments Holdings LLC boosted its holdings in Boston Properties by 3.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,502,079 shares of the real estate investment trust’s stock worth $294,031,000 after purchasing an additional 166,105 shares during the last quarter. Earnest Partners LLC grew its position in Boston Properties by 25.9% in 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Boston Properties by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,228,879 shares of the real estate investment trust’s stock valued at $156,407,000 after buying an additional 22,074 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BXP has been the subject of several analyst reports. Truist Financial lifted their price target on shares of Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Scotiabank lifted their target price on shares of Boston Properties from $76.00 to $82.00 and gave the stock a “sector outperform” rating in a report on Wednesday. Wedbush increased their price target on Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Barclays reduced their price target on Boston Properties from $66.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, May 24th. Finally, Evercore ISI increased their target price on Boston Properties from $76.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.54.

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.