Boston Properties, Inc. (NYSE:BXP) Stake Increased by MBB Public Markets I LLC

MBB Public Markets I LLC lifted its holdings in Boston Properties, Inc. (NYSE:BXP) by 198.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,155 shares of the real estate investment trust’s stock after buying an additional 6,091 shares during the period. MBB Public Markets I LLC’s holdings in Boston Properties were worth $564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. boosted its position in Boston Properties by 212.1% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 386 shares during the period. UMB Bank n.a. boosted its holdings in shares of 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 purchasing an additional 380 shares during the period. Abich Financial Wealth Management LLC grew its position in 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 valued at $69,000 after purchasing an additional 395 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Boston Properties during the second quarter valued at approximately $91,000. Finally, Sound Income Strategies LLC increased its stake in Boston Properties by 198.1% in the 1st 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 during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BXP. Piper Sandler boosted their price target on shares of Boston Properties from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 target price on shares of Boston Properties in a research report on Thursday, June 20th. Evercore ISI lifted their price target on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Wedbush raised their price objective on shares of Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Finally, Truist Financial lifted their target price 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. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $74.83.

Boston Properties Stock Performance

NYSE:BXP opened at $79.67 on Wednesday. The firm has a market capitalization of $12.51 billion, a PE ratio of 65.30, a PEG ratio of 0.38 and a beta of 1.18. Boston Properties, Inc. has a 1 year low of $50.64 and a 1 year high of $83.85. 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 firm’s fifty day simple moving average is $73.99 and its 200 day simple moving average is $66.25.

Boston Properties (NYSE:BXP) last issued 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 business had revenue of $850.48 million during the quarter, compared to analyst estimates of $819.49 million. During the same period in the prior year, the business posted $1.86 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Boston Properties, Inc. will post 7.11 EPS for the current year.

Boston Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.98 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 annualized dividend and a dividend yield of 4.92%. Boston Properties’s dividend payout ratio is 321.31%.

Insider Transactions at Boston Properties

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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter V. Otteni sold 4,785 shares of the company’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 value of $351,410.40. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.

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.