Boston Properties (NYSE:BXP) Sets New 52-Week Low at $77.45

Boston Properties, Inc. (NYSE:BXPGet Rating)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $77.45 and last traded at $77.48, with a volume of 42364 shares. The stock had previously closed at $79.53.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Scotiabank upgraded Boston Properties from a “sector perform” rating to a “sector outperform” rating and cut their price objective for the stock from $102.00 to $94.00 in a research note on Thursday. Piper Sandler dropped their price target on Boston Properties from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, September 15th. UBS Group dropped their price target on Boston Properties from $131.00 to $98.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Wells Fargo & Company dropped their price target on Boston Properties from $105.00 to $94.00 and set an “overweight” rating for the company in a research report on Tuesday, August 30th. Finally, Sumitomo Mitsui Financial Group lowered Boston Properties from an “outperform” rating to a “neutral” rating and set a $93.00 price target for the company. in a research report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Boston Properties presently has an average rating of “Hold” and a consensus target price of $100.43.

Boston Properties Stock Up 0.5 %

The company has a debt-to-equity ratio of 1.71, a current ratio of 4.35 and a quick ratio of 4.35. The business has a 50 day simple moving average of $85.39 and a 200 day simple moving average of $102.49. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 1.79 and a beta of 1.14.

Boston Properties (NYSE:BXPGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.64. Boston Properties had a return on equity of 8.17% and a net margin of 22.04%. During the same quarter in the previous year, the business earned $1.72 EPS. As a group, equities analysts predict that Boston Properties, Inc. will post 7.52 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Thursday, September 29th. Boston Properties’s dividend payout ratio (DPR) is 93.33%.

Insiders Place Their Bets

In other news, EVP Raymond A. Ritchey sold 22,472 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $89.96, for a total value of $2,021,581.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.09% of the stock is owned by insiders.

Institutional Trading of Boston Properties

Several hedge funds have recently modified their holdings of the stock. Kinneret Advisory LLC increased its holdings in Boston Properties by 2.3% in the first quarter. Kinneret Advisory LLC now owns 4,043 shares of the real estate investment trust’s stock valued at $525,000 after buying an additional 90 shares during the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Boston Properties by 7.2% during the first quarter. Harbor Investment Advisory LLC now owns 1,481 shares of the real estate investment trust’s stock worth $191,000 after purchasing an additional 99 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Boston Properties by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the real estate investment trust’s stock worth $1,149,000 after purchasing an additional 100 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Boston Properties by 0.3% during the first quarter. State of Michigan Retirement System now owns 35,857 shares of the real estate investment trust’s stock worth $4,618,000 after purchasing an additional 106 shares during the last quarter. Finally, Credit Agricole S A grew its holdings in shares of Boston Properties by 15.1% during the fourth quarter. Credit Agricole S A now owns 905 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 119 shares during the last quarter. 92.47% of the stock is currently owned by institutional investors and hedge funds.

Boston Properties Company Profile

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Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.

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