Park Place Capital Corp Sells 256 Shares of Boston Properties, Inc. (NYSE:BXP)

Park Place Capital Corp reduced its position in shares of Boston Properties, Inc. (NYSE:BXP) by 31.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 567 shares of the real estate investment trust’s stock after selling 256 shares during the period. Park Place Capital Corp’s holdings in Boston Properties were worth $37,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Boston Properties by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 23,446,379 shares of the real estate investment trust’s stock worth $1,645,232,000 after acquiring an additional 62,539 shares during the last quarter. Norges Bank bought a new position in shares of Boston Properties in the fourth quarter worth about $890,848,000. Dimensional Fund Advisors LP raised its stake in shares of Boston Properties by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,228,879 shares of the real estate investment trust’s stock worth $156,407,000 after acquiring an additional 22,074 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Boston Properties by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,053,695 shares of the real estate investment trust’s stock worth $144,108,000 after acquiring an additional 67,426 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Boston Properties by 11.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,036,968 shares of the real estate investment trust’s stock worth $142,934,000 after acquiring an additional 209,141 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Boston Properties Stock Performance

Shares of BXP stock opened at $60.69 on Tuesday. The company’s fifty day simple moving average is $61.09 and its 200-day simple moving average is $64.35. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 1.91. The firm has a market cap of $9.53 billion, a PE ratio of 49.75, a P/E/G ratio of 0.38 and a beta of 1.18. Boston Properties, Inc. has a 12 month low of $50.64 and a 12 month high of $73.97.

Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.22). The business had revenue of $839.44 million during the quarter, compared to the consensus estimate of $808.68 million. Boston Properties had a return on equity of 2.35% and a net margin of 5.81%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. Equities research analysts expect that Boston Properties, Inc. will post 7.04 EPS for the current fiscal year.

Boston Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date of this dividend is Friday, June 28th. Boston Properties’s dividend payout ratio is presently 321.31%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 target price on shares of Boston Properties in a research note on Thursday, June 20th. Truist Financial lowered their price target on shares of Boston Properties from $75.00 to $67.00 and set a “hold” rating for the company in a research report on Friday, June 14th. StockNews.com cut shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Wedbush lowered their price target on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, BMO Capital Markets lowered their price target on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Boston Properties has an average rating of “Hold” and an average target price of $69.60.

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.