Envestnet Asset Management Inc. Buys 16,469 Shares of Boston Properties, Inc. (NYSE:BXP)

Envestnet Asset Management Inc. increased its stake in Boston Properties, Inc. (NYSE:BXP) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 376,155 shares of the real estate investment trust’s stock after purchasing an additional 16,469 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.24% of Boston Properties worth $23,156,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Signaturefd LLC raised its holdings in shares of Boston Properties by 2.6% in the 2nd quarter. Signaturefd LLC now owns 6,597 shares of the real estate investment trust’s stock worth $406,000 after purchasing an additional 168 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Boston Properties by 0.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 63,629 shares of the real estate investment trust’s stock worth $3,917,000 after purchasing an additional 175 shares during the period. First Trust Direct Indexing L.P. raised its holdings in shares of Boston Properties by 2.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 6,620 shares of the real estate investment trust’s stock worth $432,000 after purchasing an additional 182 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Boston Properties by 6.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,348 shares of the real estate investment trust’s stock worth $219,000 after purchasing an additional 199 shares during the period. Finally, Sustainable Insight Capital Management LLC raised its holdings in shares of Boston Properties by 7.5% in the 2nd quarter. Sustainable Insight Capital Management LLC now owns 4,300 shares of the real estate investment trust’s stock worth $265,000 after purchasing an additional 300 shares during the period. Institutional investors own 98.72% of the company’s stock.

Boston Properties Trading Down 1.6 %

Boston Properties stock opened at $81.02 on Monday. The stock has a market cap 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 fifty-two week low of $50.64 and a fifty-two week high of $83.85. The firm’s fifty day moving average price is $72.20 and its 200-day moving average price is $65.39. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83.

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

Boston Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.98 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.92 annualized dividend and a yield of 4.84%. Boston Properties’s dividend payout ratio (DPR) is presently 321.31%.

Insider Buying and Selling

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

Analysts Set New Price Targets

BXP has been the topic of a number of research reports. Wedbush lifted their price target on shares of Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Wells Fargo & Company boosted their target price on shares of Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Morgan Stanley reissued an “equal weight” rating and set a $62.00 target price on shares of Boston Properties in a report on Thursday, June 20th. Piper Sandler boosted their target price on shares of Boston Properties from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Finally, Evercore ISI boosted their target price on shares of Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Boston Properties has a consensus rating of “Hold” and a consensus target price of $74.08.

About Boston Properties

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.