Van ECK Associates Corp Increases Position in Boston Properties, Inc. (NYSE:BXP)

Van ECK Associates Corp lifted its stake in Boston Properties, Inc. (NYSE:BXP) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,800 shares of the real estate investment trust’s stock after purchasing an additional 8,360 shares during the quarter. Van ECK Associates Corp’s holdings in Boston Properties were worth $4,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Boston Properties in the 4th quarter worth approximately $15,810,000. Dark Forest Capital Management LP purchased a new stake in Boston Properties in the 3rd quarter valued at about $904,000. abrdn plc grew its position in shares of Boston Properties by 4.2% during the 4th quarter. abrdn plc now owns 713,840 shares of the real estate investment trust’s stock worth $50,090,000 after buying an additional 28,870 shares in the last quarter. Knights of Columbus Asset Advisors LLC purchased a new position in Boston Properties during the fourth quarter valued at approximately $5,017,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Boston Properties by 12.0% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 221,845 shares of the real estate investment trust’s stock valued at $13,195,000 after buying an additional 23,795 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Boston Properties Price Performance

Shares of Boston Properties stock opened at $60.78 on Monday. The company has a current ratio of 4.77, a quick ratio of 5.40 and a debt-to-equity ratio of 1.91. Boston Properties, Inc. has a 52 week low of $46.80 and a 52 week high of $73.97. The stock has a market cap of $9.55 billion, a PE ratio of 49.82 and a beta of 1.15. The company’s 50-day moving average price is $62.62 and its two-hundred day moving average price is $63.12.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.22). Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The business had revenue of $839.44 million for the quarter, compared to the consensus estimate of $808.68 million. During the same quarter in the prior year, the business posted $1.73 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boston Properties, Inc. will post 7.07 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend was Wednesday, March 27th. Boston Properties’s dividend payout ratio is currently 321.31%.

Insider Buying and Selling at Boston Properties

In other news, EVP Raymond A. Ritchey sold 14,150 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total transaction of $889,186.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.35% of the company’s stock.

Analyst Upgrades and Downgrades

BXP has been the topic of several research analyst reports. Truist Financial dropped their target price on Boston Properties from $77.00 to $75.00 and set a “hold” rating on the stock in a research note on Tuesday, March 5th. BMO Capital Markets lowered their target price on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. Wedbush cut their price target on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday. Barclays cut their target price on 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, Deutsche Bank Aktiengesellschaft initiated coverage on Boston Properties in a research report on Tuesday, January 30th. They set a “hold” rating and a $74.00 price target for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $69.47.

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.