Westwood Holdings Group Inc. Purchases New Stake in Boston Properties, Inc. (NYSE:BXP)

Westwood Holdings Group Inc. purchased a new stake in Boston Properties, Inc. (NYSE:BXP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 105,385 shares of the real estate investment trust’s stock, valued at approximately $6,488,000. Westwood Holdings Group Inc. owned 0.07% of Boston Properties at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Sei Investments Co. grew its position in Boston Properties by 32.9% in the 2nd quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock valued at $92,567,000 after purchasing an additional 371,946 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Boston Properties by 14.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,715 shares of the real estate investment trust’s stock worth $352,000 after acquiring an additional 715 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Boston Properties by 99.1% during the 2nd quarter. Intech Investment Management LLC now owns 13,566 shares of the real estate investment trust’s stock worth $835,000 after acquiring an additional 6,753 shares during the last quarter. XTX Topco Ltd purchased a new position in Boston Properties during the 2nd quarter worth $1,148,000. Finally, Riverview Capital Advisers LLC boosted its holdings in Boston Properties by 3.1% during the 2nd quarter. Riverview Capital Advisers LLC now owns 148,917 shares of the real estate investment trust’s stock worth $9,167,000 after acquiring an additional 4,410 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Buying and Selling at Boston Properties

In other news, 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 transaction of $1,621,248.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 transaction of $1,621,248.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $351,410.40. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Boston Properties Stock Down 1.6 %

BXP stock opened at $81.02 on Monday. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $12.72 billion, a PE ratio of 66.41, a PEG ratio of 0.35 and a beta of 1.18. Boston Properties, Inc. has a twelve month low of $50.64 and a twelve month high of $83.85. The stock has a 50-day simple moving average of $72.20 and a two-hundred day simple moving average of $65.39.

Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.86 EPS. On average, equities analysts predict that Boston Properties, Inc. will post 7.11 EPS 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. Shareholders 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 yield of 4.84%. The ex-dividend date is Monday, September 30th. Boston Properties’s payout ratio is presently 321.31%.

Analysts Set New Price Targets

BXP has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price objective on shares of Boston Properties in a report on Thursday, June 20th. Piper Sandler lifted their price objective 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. StockNews.com raised shares of Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Scotiabank lifted their target price on Boston Properties from $76.00 to $82.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company lifted their target price on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.