Renaissance Technologies LLC Purchases 110,700 Shares of Boston Properties, Inc. (NYSE:BXP)

Renaissance Technologies LLC grew its position in shares of Boston Properties, Inc. (NYSE:BXP) by 208.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,900 shares of the real estate investment trust’s stock after buying an additional 110,700 shares during the period. Renaissance Technologies LLC owned approximately 0.10% of Boston Properties worth $10,090,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. increased its position in Boston Properties by 115.5% during the second quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 380 shares during the period. Abich Financial Wealth Management LLC increased its holdings in shares of Boston Properties by 59.1% during the first quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 395 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Boston Properties in the second quarter valued at approximately $91,000. Sound Income Strategies LLC raised its position in shares of Boston Properties by 198.1% in the first quarter. Sound Income Strategies LLC now owns 1,428 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 949 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Boston Properties in the first quarter valued at approximately $108,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Boston Properties Price Performance

Shares of BXP opened at $82.17 on Tuesday. The business has a 50-day simple moving average of $72.48 and a two-hundred day simple moving average of $65.52. Boston Properties, Inc. has a 12-month low of $50.64 and a 12-month high of $83.85. The stock has a market cap of $12.91 billion, a PE ratio of 67.35, a PEG ratio of 0.35 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.

Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 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 business had revenue of $850.48 million for the quarter, compared to analyst estimates of $819.49 million. During the same quarter in the prior year, the business earned $1.86 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts anticipate that Boston Properties, Inc. will post 7.11 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

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 dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend is Monday, September 30th. Boston Properties’s dividend payout ratio is currently 321.31%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wedbush lifted their price objective on Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Evercore ISI upped their price objective on shares of Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Truist Financial raised 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. Scotiabank upped their price target on shares of Boston Properties from $76.00 to $82.00 and gave the stock a “sector outperform” rating in a report on Wednesday, September 11th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price objective on shares of Boston Properties in a research note on Thursday, June 20th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus 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.