Federated Hermes Inc. Sells 614 Shares of Boston Properties, Inc. (NYSE:BXP)

Federated Hermes Inc. lessened its stake in Boston Properties, Inc. (NYSE:BXP) by 30.5% during the second quarter, Holdings Channel reports. The firm owned 1,400 shares of the real estate investment trust’s stock after selling 614 shares during the period. Federated Hermes Inc.’s holdings in Boston Properties were worth $86,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BXP. Acadian Asset Management LLC purchased a new position in Boston Properties during the 1st quarter worth $1,187,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Boston Properties by 387.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,825 shares of the real estate investment trust’s stock worth $4,900,000 after purchasing an additional 55,501 shares during the last quarter. Perpetual Ltd bought a new stake in Boston Properties in the 1st quarter worth about $1,205,000. SG Americas Securities LLC increased its stake in Boston Properties by 76.8% in the 2nd quarter. SG Americas Securities LLC now owns 110,242 shares of the real estate investment trust’s stock valued at $6,786,000 after buying an additional 47,882 shares during the last quarter. Finally, M&G Plc bought a new position in shares of Boston Properties during the 1st quarter worth approximately $3,807,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Boston Properties Stock Down 2.1 %

Shares of NYSE:BXP opened at $80.78 on Thursday. The company has a market cap of $12.69 billion, a price-to-earnings ratio of 66.21, a PEG ratio of 0.38 and a beta of 1.18. Boston Properties, Inc. has a one year low of $50.64 and a one year high of $83.85. The firm has a fifty day moving average price of $72.74 and a two-hundred day moving average price of $65.65. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.83.

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

Boston Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 annualized dividend and a yield of 4.85%. Boston Properties’s payout ratio is presently 321.31%.

Insiders Place Their Bets

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The disclosure for this sale can be found here. Corporate insiders own 1.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on BXP. StockNews.com raised Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Wedbush lifted their target price on Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Scotiabank increased their price target on shares of Boston Properties from $76.00 to $82.00 and gave the company a “sector outperform” rating in a research report on Wednesday, September 11th. Evercore ISI lifted their price objective on shares of Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 target price on shares of Boston Properties in a research note on Thursday, June 20th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.08.

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.