Boston Properties, Inc. (NYSE:BXP) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in Boston Properties, Inc. (NYSE:BXP) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,336 shares of the real estate investment trust’s stock after selling 521 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Boston Properties were worth $3,883,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Boston Properties during the fourth quarter worth $890,848,000. Ameriprise Financial Inc. raised its holdings in Boston Properties by 86.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,957,055 shares of the real estate investment trust’s stock valued at $112,977,000 after buying an additional 906,069 shares during the period. Centersquare Investment Management LLC lifted its position in Boston Properties by 30.9% in the fourth quarter. Centersquare Investment Management LLC now owns 1,986,707 shares of the real estate investment trust’s stock valued at $139,407,000 after buying an additional 468,950 shares during the last quarter. Earnest Partners LLC boosted its stake in Boston Properties by 43.9% during the third quarter. Earnest Partners LLC now owns 1,369,183 shares of the real estate investment trust’s stock worth $81,439,000 after buying an additional 417,944 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Boston Properties by 51.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,113,987 shares of the real estate investment trust’s stock valued at $78,168,000 after acquiring an additional 379,136 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BXP shares. Wedbush lowered their target price on Boston Properties from $66.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Truist Financial lowered their price objective on shares of Boston Properties from $75.00 to $67.00 and set a “hold” rating for the company in a research note on Friday, June 14th. Evercore ISI cut their target price on shares of Boston Properties from $73.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Barclays reduced their target price on shares of Boston Properties from $66.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, May 24th. Finally, StockNews.com downgraded shares of Boston Properties from a “hold” rating to a “sell” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $68.93.

Boston Properties Stock Up 1.0 %

Shares of NYSE BXP opened at $62.05 on Thursday. The business has a 50-day moving average of $60.80 and a two-hundred day moving average of $64.47. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 50.86, a price-to-earnings-growth ratio of 0.43 and a beta of 1.15. Boston Properties, Inc. has a 1 year low of $50.64 and a 1 year high of $73.97. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.77 and a quick ratio of 4.77.

Boston Properties (NYSE:BXP) last released its quarterly earnings data 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 return on equity of 2.35% and a net margin of 5.81%. The company had revenue of $839.44 million for the quarter, compared to analyst estimates of $808.68 million. During the same period in the previous 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. On average, analysts forecast that Boston Properties, Inc. will post 7.05 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 6.32%. The ex-dividend date is Friday, June 28th. Boston Properties’s payout ratio is currently 321.31%.

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.