Massachusetts Financial Services Co. MA Purchases 120,650 Shares of Boston Properties, Inc. (NYSE:BXP)

Massachusetts Financial Services Co. MA increased its position in shares of Boston Properties, Inc. (NYSE:BXP) by 6.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,923,225 shares of the real estate investment trust’s stock after buying an additional 120,650 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Boston Properties were worth $118,394,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. UMB Bank n.a. boosted its holdings in shares of Boston Properties by 115.5% during the 2nd quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 380 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in shares of Boston Properties by 59.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 395 shares during the period. Principal Securities Inc. bought a new stake in shares of Boston Properties during the 4th quarter worth $93,000. Sound Income Strategies LLC boosted its holdings in shares of Boston Properties by 198.1% during the 1st quarter. Sound Income Strategies LLC now owns 1,428 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 949 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Boston Properties during the 2nd quarter worth $91,000. 98.72% of the stock is owned by institutional investors.

Insider Activity at Boston Properties

In related news, EVP Peter V. Otteni sold 4,785 shares of Boston Properties 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other Boston Properties 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 value of $351,410.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $1,621,248.75. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BXP has been the topic of several research analyst reports. Morgan Stanley restated an “equal weight” rating and issued a $62.00 price target on shares of Boston Properties in a research report on Thursday, June 20th. StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Truist Financial raised 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 raised their price target on shares of Boston Properties from $76.00 to $82.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, September 11th. Finally, Wedbush raised their price target on shares of Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $74.08.

Boston Properties Price Performance

NYSE:BXP opened at $81.29 on Thursday. Boston Properties, Inc. has a 52 week low of $50.64 and a 52 week high of $83.38. The company has a market capitalization of $12.77 billion, a price-to-earnings ratio of 66.63, a PEG ratio of 0.35 and a beta of 1.18. The company has a 50-day moving average of $71.59 and a 200-day moving average of $65.14. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) 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 firm had revenue of $850.48 million for the quarter, compared to the consensus estimate of $819.49 million. During the same period in the prior year, the business earned $1.86 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that Boston Properties, Inc. will post 7.11 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 4.82%. The ex-dividend date is Monday, September 30th. Boston Properties’s dividend payout ratio is currently 321.31%.

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.