Truist Financial Corp Has $573,000 Stock Position in Boston Properties, Inc. (NYSE:BXP)

Truist Financial Corp cut its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 59.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,305 shares of the real estate investment trust’s stock after selling 13,511 shares during the quarter. Truist Financial Corp’s holdings in Boston Properties were worth $573,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of 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 purchasing an additional 150 shares during the period. Mystic Asset Management Inc. increased its stake in shares of Boston Properties by 3.1% in the second quarter. Mystic Asset Management Inc. now owns 5,541 shares of the real estate investment trust’s stock worth $341,000 after acquiring an additional 165 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Boston Properties by 2.6% during the second quarter. Signaturefd LLC now owns 6,597 shares of the real estate investment trust’s stock worth $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 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 purchasing an additional 175 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in 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 valued at $432,000 after purchasing an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling at Boston Properties

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the business’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 SEC, which is accessible through this link. 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 transaction of $1,621,248.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter V. Otteni sold 4,785 shares of the company’s 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.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BXP. Wedbush raised their price objective on shares of Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Piper Sandler increased their price objective on Boston Properties from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Morgan Stanley restated an “equal weight” rating and set a $62.00 target price on shares of Boston Properties in a research note on Thursday, June 20th. StockNews.com upgraded Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Truist Financial lifted their price objective on Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $74.83.

Boston Properties Price Performance

Boston Properties stock opened at $86.48 on Wednesday. The business’s 50-day simple moving average is $76.55 and its 200 day simple moving average is $67.54. Boston Properties, Inc. has a 12-month low of $50.64 and a 12-month high of $87.65. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 70.89, a P/E/G ratio of 0.56 and a beta of 1.18. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90.

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 for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The firm had revenue of $850.48 million during the quarter, compared to analyst estimates of $819.49 million. Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.86 earnings per share. As a group, research analysts anticipate that Boston Properties, Inc. will post 7.11 earnings per share for the current year.

Boston Properties Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.53%. Boston Properties’s payout ratio is 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.