MBB Public Markets I LLC Acquires 6,091 Shares of Boston Properties, Inc. (NYSE:BXP)

MBB Public Markets I LLC grew its stake in Boston Properties, Inc. (NYSE:BXP) by 198.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 9,155 shares of the real estate investment trust’s stock after acquiring an additional 6,091 shares during the quarter. MBB Public Markets I LLC’s holdings in Boston Properties were worth $564,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BXP. Vanguard Personalized Indexing Management LLC raised its stake in Boston Properties by 0.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,479 shares of the real estate investment trust’s stock worth $1,261,000 after acquiring an additional 150 shares in the last quarter. Mystic Asset Management Inc. increased its position in shares of Boston Properties by 3.1% during the 2nd quarter. Mystic Asset Management Inc. now owns 5,541 shares of the real estate investment trust’s stock worth $341,000 after purchasing an additional 165 shares in the last quarter. Signaturefd LLC lifted its holdings 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 purchasing an additional 168 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Boston Properties by 0.3% in the second quarter. Daiwa Securities Group Inc. now owns 63,629 shares of the real estate investment trust’s stock valued at $3,917,000 after buying an additional 175 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its holdings in shares of Boston Properties by 2.8% during 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 buying an additional 182 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Boston Properties Stock Down 1.0 %

BXP opened at $79.67 on Wednesday. Boston Properties, Inc. has a twelve month low of $50.64 and a twelve month high of $83.85. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90. The company’s 50-day moving average price is $73.99 and its two-hundred day moving average price is $66.25. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 65.30, a PEG ratio of 0.38 and a beta of 1.18.

Boston Properties (NYSE:BXP) last issued 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 net margin of 5.01% and a return on equity of 2.05%. The business had revenue of $850.48 million for the quarter, compared to the consensus estimate of $819.49 million. During the same quarter last year, the business posted $1.86 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts expect that Boston Properties, Inc. will post 7.11 earnings per share for the current year.

Boston Properties Announces Dividend

The company 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 $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend is Monday, September 30th. Boston Properties’s payout ratio is 321.31%.

Insiders Place Their Bets

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction 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 legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $351,410.40. The disclosure for this sale can be found here. Company insiders own 1.35% of the company’s stock.

Analyst Upgrades and Downgrades

BXP has been the subject of several research analyst reports. Evercore ISI lifted their price objective on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Wells Fargo & Company upped their price target on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Morgan Stanley restated an “equal weight” rating and issued a $62.00 price objective on shares of Boston Properties in a research report on Thursday, June 20th. Truist Financial upped their target price 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. Finally, Scotiabank boosted their price objective 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. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.83.

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.