Point72 Asset Management L.P. Makes New Investment in Boston Properties, Inc. (NYSE:BXP)

Point72 Asset Management L.P. bought a new stake in Boston Properties, Inc. (NYSE:BXP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 209,774 shares of the real estate investment trust’s stock, valued at approximately $12,914,000. Point72 Asset Management L.P. owned 0.13% of Boston Properties at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. grew its position in Boston Properties by 212.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 386 shares in the last quarter. UMB Bank n.a. grew its holdings in Boston Properties by 115.5% during the 2nd quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 380 shares in the last quarter. Abich Financial Wealth Management LLC increased its stake in Boston Properties by 59.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 395 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Boston Properties by 61.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 547 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Boston Properties in the 2nd quarter worth $91,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Transactions at Boston Properties

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’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 value of $1,621,248.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Peter V. Otteni sold 4,785 shares of the firm’s 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 document filed with the SEC, which is available at this link. Also, EVP Raymond A. Ritchey sold 21,835 shares of the company’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 value of $1,621,248.75. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Boston Properties Stock Down 0.4 %

Shares of Boston Properties stock opened at $80.44 on Tuesday. Boston Properties, Inc. has a twelve month low of $50.64 and a twelve month high of $83.85. The stock has a market capitalization of $12.63 billion, a price-to-earnings ratio of 65.93, a PEG ratio of 0.38 and a beta of 1.18. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 1.90. The business’s 50 day simple moving average is $73.78 and its 200-day simple moving average is $66.13.

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

Boston Properties Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.87%. Boston Properties’s dividend payout ratio (DPR) is presently 321.31%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Evercore ISI lifted their target price on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Piper Sandler upped their target price on Boston Properties from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Wedbush raised their price target on shares of Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Truist Financial upped their price target 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. Finally, Scotiabank raised their price objective 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. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Properties has an average rating of “Hold” and an average price target of $74.83.

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.