Raymond James & Associates Boosts Stake in Boston Properties, Inc. (NYSE:BXP)

Raymond James & Associates raised its position in Boston Properties, Inc. (NYSE:BXP) by 11.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,587 shares of the real estate investment trust’s stock after purchasing an additional 11,752 shares during the quarter. Raymond James & Associates owned 0.07% of Boston Properties worth $8,898,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BXP. Acadian Asset Management LLC purchased a new position in Boston Properties in the first quarter valued at $1,187,000. SG Americas Securities LLC grew its position in shares of Boston Properties by 76.8% during the second quarter. SG Americas Securities LLC now owns 110,242 shares of the real estate investment trust’s stock worth $6,786,000 after buying an additional 47,882 shares in the last quarter. M&G Plc purchased a new stake in shares of Boston Properties during the first quarter worth approximately $3,807,000. Caxton Associates LP acquired a new stake in Boston Properties in the first quarter valued at approximately $1,423,000. Finally, DNB Asset Management AS lifted its stake in Boston Properties by 47.3% in the second quarter. DNB Asset Management AS now owns 34,755 shares of the real estate investment trust’s stock worth $2,140,000 after acquiring an additional 11,163 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Boston Properties Stock Performance

Shares of BXP opened at $86.17 on Wednesday. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of 70.63, a PEG ratio of 0.56 and a beta of 1.18. 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 business’s 50 day moving average is $80.23 and its two-hundred day moving average is $69.31. Boston Properties, Inc. has a 52-week low of $50.64 and a 52-week high of $90.11.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $819.49 million. During the same quarter last year, the business posted $1.86 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts forecast that Boston Properties, Inc. will post 7.11 EPS for the current fiscal year.

Boston Properties Announces Dividend

The firm 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 $0.98 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a yield of 4.55%. Boston Properties’s dividend payout ratio is currently 321.31%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Piper Sandler raised shares of Boston Properties from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $78.00 to $105.00 in a research report on Wednesday, October 23rd. StockNews.com raised Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Barclays raised their target price on Boston Properties from $65.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday. Evercore ISI boosted their target price on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Finally, Truist Financial increased their price target on shares of Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.82.

Insider Buying and Selling at Boston Properties

In related news, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $1,621,248.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction that occurred on Friday, August 23rd. The stock was 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 currently owned by 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.