Boston Properties, Inc. (NYSE:BXP) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its position in shares of Boston Properties, Inc. (NYSE:BXP) by 15.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 233,407 shares of the real estate investment trust’s stock after selling 43,743 shares during the period. Bank of Montreal Can’s holdings in Boston Properties were worth $14,474,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC grew its position in Boston Properties by 0.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,479 shares of the real estate investment trust’s stock worth $1,261,000 after purchasing an additional 150 shares during the last quarter. Mystic Asset Management Inc. increased its position in Boston Properties by 3.1% in the 2nd quarter. Mystic Asset Management Inc. now owns 5,541 shares of the real estate investment trust’s stock valued at $341,000 after acquiring an additional 165 shares during the period. Signaturefd LLC raised its stake in Boston Properties by 2.6% during the 2nd quarter. Signaturefd LLC now owns 6,597 shares of the real estate investment trust’s stock valued at $406,000 after acquiring an additional 168 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Boston Properties by 0.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 63,629 shares of the real estate investment trust’s stock worth $3,917,000 after acquiring an additional 175 shares during the period. Finally, First Trust Direct Indexing L.P. grew its stake in shares of Boston Properties by 2.8% in the first quarter. First Trust Direct Indexing L.P. now owns 6,620 shares of the real estate investment trust’s stock worth $432,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Boston Properties Stock Performance

Shares of BXP opened at $80.77 on Friday. The company has a 50-day moving average of $73.53 and a two-hundred day moving average of $65.98. The stock has a market cap of $12.69 billion, a price-to-earnings ratio of 66.20, a PEG ratio of 0.38 and a beta of 1.18. 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, Inc. has a one year low of $50.64 and a one year high of $83.85.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data 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). The firm had revenue of $850.48 million for the quarter, compared to analysts’ expectations of $819.49 million. Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 earnings per share. On average, equities research analysts expect that Boston Properties, Inc. will post 7.11 earnings per share for the current year.

Boston Properties Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 4.85%. Boston Properties’s payout ratio is presently 321.31%.

Insider Buying and Selling at Boston Properties

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Peter V. Otteni sold 4,785 shares of the 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. Company insiders own 1.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on BXP shares. Wells Fargo & Company raised their target price on shares of Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Morgan Stanley reissued an “equal weight” rating and set a $62.00 target price on shares of Boston Properties in a report on Thursday, June 20th. Piper Sandler increased their price target on Boston Properties from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Scotiabank boosted their price objective on Boston Properties from $76.00 to $82.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, September 11th. Finally, Truist Financial raised their target price on Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Boston Properties currently has a consensus rating of “Hold” and a consensus price target of $74.83.

Boston Properties 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.