Raymond James & Associates Has $8.90 Million Holdings in Boston Properties, Inc. (NYSE:BXP)

Raymond James & Associates increased its position in Boston Properties, Inc. (NYSE:BXP) by 11.9% in the third quarter, HoldingsChannel reports. The firm owned 110,587 shares of the real estate investment trust’s stock after acquiring an additional 11,752 shares during the period. Raymond James & Associates’ holdings in Boston Properties were worth $8,898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norden Group LLC purchased a new stake in shares of Boston Properties in the first quarter worth approximately $287,000. Abundance Wealth Counselors lifted its position in Boston Properties by 31.4% in the 1st quarter. Abundance Wealth Counselors now owns 5,772 shares of the real estate investment trust’s stock worth $377,000 after buying an additional 1,379 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of Boston Properties by 2.8% during the 1st 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 buying an additional 182 shares during the period. Van ECK Associates Corp grew its holdings in shares of Boston Properties by 2.9% during the 1st quarter. Van ECK Associates Corp now owns 63,617 shares of the real estate investment trust’s stock valued at $4,155,000 after acquiring an additional 1,817 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Boston Properties by 6.3% in the first quarter. Sequoia Financial Advisors LLC now owns 3,348 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 199 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BXP has been the subject of a number of recent research reports. Evercore ISI raised their price target on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Truist Financial lifted their target price on shares of Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Scotiabank upped their price objective on shares of Boston Properties from $82.00 to $91.00 and gave the stock a “sector outperform” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company increased their target price 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. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.82.

Boston Properties Stock Down 1.4 %

Shares of BXP stock opened at $86.17 on Wednesday. The firm’s fifty day moving average price is $80.23 and its two-hundred day moving average price is $69.31. Boston Properties, Inc. has a 1 year low of $50.64 and a 1 year high of $90.11. 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 firm has a market capitalization of $13.53 billion, a P/E ratio of 70.63, a PEG ratio of 0.56 and a beta of 1.18.

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

Boston Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 yield of 4.55%. The ex-dividend date is Monday, September 30th. Boston Properties’s dividend payout ratio is 321.31%.

Insiders Place Their Bets

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Raymond A. Ritchey sold 21,835 shares of the 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 disclosure for this sale can be found here. Company insiders own 1.35% of the company’s stock.

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.