Elo Mutual Pension Insurance Co Increases Stock Holdings in Boston Properties, Inc. (NYSE:BXP)

Elo Mutual Pension Insurance Co grew its stake in Boston Properties, Inc. (NYSE:BXP) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,459 shares of the real estate investment trust’s stock after buying an additional 836 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Boston Properties were worth $890,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BXP. Vanguard Group Inc. boosted its stake in Boston Properties by 0.5% in the first quarter. Vanguard Group Inc. now owns 23,568,962 shares of the real estate investment trust’s stock valued at $1,539,289,000 after acquiring an additional 122,583 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Boston Properties by 3.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,502,079 shares of the real estate investment trust’s stock worth $294,031,000 after buying an additional 166,105 shares during the last quarter. Earnest Partners LLC increased its position in Boston Properties by 29.8% during the first quarter. Earnest Partners LLC now owns 2,094,625 shares of the real estate investment trust’s stock worth $136,800,000 after buying an additional 480,961 shares during the period. Goldman Sachs Group Inc. boosted its holdings 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 valued at $142,934,000 after acquiring an additional 209,141 shares during the period. Finally, Centersquare Investment Management LLC grew its position in shares of Boston Properties by 30.9% during the fourth quarter. Centersquare Investment Management LLC now owns 1,986,707 shares of the real estate investment trust’s stock worth $139,407,000 after acquiring an additional 468,950 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler upped their price target on shares of Boston Properties from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company raised their price target on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Truist Financial upped their price objective on Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 target price on shares of Boston Properties in a report on Thursday, June 20th. Finally, StockNews.com raised Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Boston Properties has an average rating of “Hold” and an average target price of $74.08.

Insider Transactions at Boston Properties

In other news, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The disclosure for this sale can be found here. Company insiders own 1.35% of the company’s stock.

Boston Properties Stock Performance

NYSE BXP opened at $81.02 on Friday. The business has a 50 day moving average price of $72.20 and a 200 day moving average price of $65.37. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.83. The company has a market capitalization of $12.72 billion, a P/E ratio of 66.41, a PEG ratio of 0.35 and a beta of 1.18. Boston Properties, Inc. has a 1-year low of $50.64 and a 1-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 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The firm had revenue of $850.48 million during the quarter, compared to analyst estimates of $819.49 million. During the same period in the previous year, the firm posted $1.86 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts expect that Boston Properties, Inc. will post 7.11 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The company also recently announced 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. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Monday, September 30th. 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.