Handelsinvest Investeringsforvaltning Sells 2,899 Shares of Boston Properties, Inc. (NYSE:BXP)

Handelsinvest Investeringsforvaltning reduced its stake in shares of Boston Properties, Inc. (NYSE:BXP) by 34.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,585 shares of the real estate investment trust’s stock after selling 2,899 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Boston Properties were worth $365,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BXP. Mariner LLC lifted its stake in shares of Boston Properties by 20.1% during the 3rd quarter. Mariner LLC now owns 17,152 shares of the real estate investment trust’s stock valued at $1,020,000 after buying an additional 2,875 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Boston Properties by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 68,892 shares of the real estate investment trust’s stock valued at $4,098,000 after buying an additional 350 shares in the last quarter. Bank of Nova Scotia lifted its stake in shares of Boston Properties by 15.3% during the 3rd quarter. Bank of Nova Scotia now owns 13,328 shares of the real estate investment trust’s stock valued at $793,000 after buying an additional 1,770 shares in the last quarter. Glenmede Trust Co. NA purchased a new stake in shares of Boston Properties during the 3rd quarter valued at approximately $713,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Boston Properties by 86.2% during 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 in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Boston Properties Price Performance

BXP stock opened at $61.43 on Thursday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 4.77 and a current ratio of 4.77. Boston Properties, Inc. has a 52 week low of $50.64 and a 52 week high of $73.97. The firm’s fifty day moving average is $61.05 and its 200 day moving average is $64.19. The firm has a market cap of $9.65 billion, a P/E ratio of 50.35, a P/E/G ratio of 0.38 and a beta of 1.18.

Boston Properties (NYSE:BXP) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.22). The business had revenue of $839.44 million for the quarter, compared to the consensus estimate of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. Boston Properties’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 EPS. Research analysts predict that Boston Properties, Inc. will post 7.04 earnings per share for the current year.

Boston Properties Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, June 28th. This represents a $3.92 annualized dividend and a dividend yield of 6.38%. Boston Properties’s dividend payout ratio is 321.31%.

Analyst Ratings Changes

A number of analysts recently commented on BXP shares. Evercore ISI dropped their price target 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. Truist Financial lowered their target price on shares of Boston Properties from $75.00 to $67.00 and set a “hold” rating on the stock in a research note on Friday, June 14th. BMO Capital Markets lowered their target price on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a research note on Monday, April 8th. Barclays lowered 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 research note on Friday, May 24th. Finally, StockNews.com cut shares of Boston Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.60.

Boston Properties 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.