Bristlecone Advisors LLC Acquires 3,429 Shares of Boston Properties, Inc. (NYSE:BXP)

Bristlecone Advisors LLC boosted its position in Boston Properties, Inc. (NYSE:BXP) by 39.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,113 shares of the real estate investment trust’s stock after acquiring an additional 3,429 shares during the quarter. Bristlecone Advisors LLC’s holdings in Boston Properties were worth $850,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Boston Properties by 1.8% in the first quarter. Vanguard Group Inc. now owns 23,383,095 shares of the real estate investment trust’s stock valued at $3,011,742,000 after acquiring an additional 404,123 shares during the last quarter. Norges Bank bought a new position in Boston Properties in the fourth quarter valued at approximately $857,967,000. State Street Corp increased its stake in Boston Properties by 1.3% in the second quarter. State Street Corp now owns 11,765,331 shares of the real estate investment trust’s stock valued at $688,767,000 after acquiring an additional 151,276 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in Boston Properties by 107,870.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,991,255 shares of the real estate investment trust’s stock valued at $404,889,000 after acquiring an additional 5,985,706 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Boston Properties by 4.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,376,763 shares of the real estate investment trust’s stock valued at $260,330,000 after acquiring an additional 174,409 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Insider Activity at Boston Properties

In related news, EVP Raymond A. Ritchey sold 14,150 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total value of $889,186.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.09% of the stock is owned by company insiders.

Boston Properties Price Performance

BXP stock opened at $61.35 on Monday. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 50.70 and a beta of 1.15. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 1.99. Boston Properties, Inc. has a 12-month low of $46.80 and a 12-month high of $73.97. The company’s fifty day simple moving average is $64.42 and its 200 day simple moving average is $62.55.

Boston Properties (NYSE:BXP) last released its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.05). The firm had revenue of $828.90 million during the quarter, compared to analyst estimates of $811.59 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. Boston Properties’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.86 EPS. On average, analysts expect that Boston Properties, Inc. will post 7.12 earnings per share for the current year.

Boston Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.98 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.92 annualized dividend and a yield of 6.39%. Boston Properties’s payout ratio is 323.97%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BXP. Jefferies Financial Group raised shares of Boston Properties from a “hold” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $80.00 in a research note on Tuesday, January 2nd. Piper Sandler raised their target price on shares of Boston Properties from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, December 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Boston Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 target price on the stock. Barclays cut their target price on shares of Boston Properties from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 27th. Finally, StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $69.56.

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.