Boston Properties, Inc. (NYSE:BXP) Position Reduced by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its position in shares of Boston Properties, Inc. (NYSE:BXP) by 1.0% in the second quarter, HoldingsChannel.com reports. The firm owned 140,608 shares of the real estate investment trust’s stock after selling 1,476 shares during the period. Mackenzie Financial Corp’s holdings in Boston Properties were worth $8,656,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Boston Properties by 212.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 386 shares during the period. UMB Bank n.a. raised its position in Boston Properties by 115.5% in the second quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 380 shares in the last quarter. Abich Financial Wealth Management LLC lifted its holdings in Boston Properties by 59.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 395 shares during the last quarter. Sound Income Strategies LLC boosted its position 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 valued at $93,000 after purchasing an additional 949 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Boston Properties during the 2nd quarter valued at about $91,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boston Properties

In other Boston Properties news, 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 accessible through the SEC website. In other news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $351,410.40. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BXP has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. StockNews.com upgraded Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Truist Financial raised their price objective on Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Piper Sandler boosted their target price on Boston Properties from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Finally, Scotiabank increased their price target on Boston Properties from $76.00 to $82.00 and gave the company a “sector outperform” rating in a research report on Wednesday, September 11th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $74.83.

Boston Properties Stock Down 0.4 %

Shares of Boston Properties stock opened at $80.44 on Tuesday. Boston Properties, Inc. has a 1 year low of $50.64 and a 1 year high of $83.85. The company has a market cap of $12.63 billion, a P/E ratio of 65.93, a P/E/G ratio of 0.38 and a beta of 1.18. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 1.90. The stock has a 50-day moving average price of $73.78 and a 200 day moving average price of $66.13.

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

Boston Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 dividend yield of 4.87%. The ex-dividend date is Monday, September 30th. Boston Properties’s dividend payout ratio is currently 321.31%.

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.