Boston Properties, Inc. (NYSE:BXP) Position Raised by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its position in shares of Boston Properties, Inc. (NYSE:BXP) by 48.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,721 shares of the real estate investment trust’s stock after acquiring an additional 2,513 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Boston Properties were worth $475,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. UMB Bank n.a. boosted its stake in Boston Properties by 115.5% during the 2nd quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 380 shares during the period. Abich Financial Wealth Management LLC raised its holdings in shares of Boston Properties by 59.1% during the first quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 395 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Boston Properties by 198.1% during the first quarter. Sound Income Strategies LLC now owns 1,428 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 949 shares during the period. 1620 Investment Advisors Inc. bought a new position in Boston Properties in the 2nd quarter worth approximately $91,000. Finally, Mather Group LLC. bought a new stake in Boston Properties during the 1st quarter valued at $108,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays decreased their price target on Boston Properties from $66.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, May 24th. Scotiabank increased their target price on shares of Boston Properties from $76.00 to $82.00 and gave the company a “sector outperform” rating in a research report on Wednesday, September 11th. Piper Sandler boosted their price target on shares of Boston Properties from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Wedbush increased their price objective on shares of Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company raised their price objective on shares of Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Boston Properties currently has a consensus rating of “Hold” and a consensus target price of $74.08.

Boston Properties Price Performance

Shares of NYSE:BXP opened at $81.02 on Friday. The company has a market capitalization of $12.72 billion, a PE ratio of 66.41, a price-to-earnings-growth ratio of 0.35 and a beta of 1.18. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83. The stock has a fifty day moving average of $72.20 and a 200-day moving average of $65.37. Boston Properties, Inc. has a one year low of $50.64 and a one year high of $83.85.

Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.72 by ($1.21). The company had revenue of $850.48 million for the quarter, compared to analysts’ expectations of $819.49 million. Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.86 earnings per share. As a group, equities analysts anticipate that Boston Properties, Inc. will post 7.11 EPS for the current fiscal year.

Boston Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.98 per share. The ex-dividend date is Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.84%. Boston Properties’s dividend payout ratio is currently 321.31%.

Insider Activity

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Peter V. Otteni sold 4,785 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $74.25, for a total transaction of $1,621,248.75. The disclosure for this sale can be found here. 1.35% of the stock is owned by company insiders.

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.