Vanguard Personalized Indexing Management LLC Grows Stock Holdings in Boston Properties, Inc. (NYSE:BXP)

Vanguard Personalized Indexing Management LLC raised its stake in Boston Properties, Inc. (NYSE:BXP) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,479 shares of the real estate investment trust’s stock after buying an additional 150 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Boston Properties were worth $1,261,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BXP. Mercer Global Advisors Inc. ADV grew its holdings in Boston Properties by 92.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 13,831 shares of the real estate investment trust’s stock valued at $851,000 after purchasing an additional 6,642 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Boston Properties by 208.1% in the second quarter. Renaissance Technologies LLC now owns 163,900 shares of the real estate investment trust’s stock valued at $10,090,000 after purchasing an additional 110,700 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Boston Properties by 6.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,923,225 shares of the real estate investment trust’s stock worth $118,394,000 after purchasing an additional 120,650 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Boston Properties during the 2nd quarter worth approximately $269,000. Finally, Mystic Asset Management Inc. lifted its stake in Boston Properties by 3.1% in the 2nd quarter. Mystic Asset Management Inc. now owns 5,541 shares of the real estate investment trust’s stock valued at $341,000 after buying an additional 165 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Boston Properties Stock Performance

NYSE:BXP opened at $81.02 on Monday. The company has a market cap of $12.72 billion, a P/E ratio of 66.41, a P/E/G ratio of 0.35 and a beta of 1.18. The firm’s 50 day moving average is $72.20 and its two-hundred day moving average is $65.39. Boston Properties, Inc. has a fifty-two week low of $50.64 and a fifty-two week high of $83.85. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90.

Boston Properties (NYSE:BXP) last issued 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 return on equity of 2.05% and a net margin of 5.01%. The firm had revenue of $850.48 million during the quarter, compared to analysts’ expectations of $819.49 million. During the same period last year, the business posted $1.86 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts expect that Boston Properties, Inc. will post 7.11 EPS for the current 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%.

Insider Buying and Selling

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 transaction of $351,410.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were 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. Corporate insiders own 1.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. 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 research report on Wednesday, September 11th. Scotiabank lifted their price objective on Boston Properties from $76.00 to $82.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, September 11th. Truist Financial upped their target price on shares of Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Piper Sandler lifted their price target on shares of Boston Properties from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Finally, Evercore ISI boosted their price objective on shares of Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $74.08.

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.