Boston Properties (NYSE:BXP) Reaches New 52-Week High at $74.15

Shares of Boston Properties, Inc. (NYSE:BXP) hit a new 52-week high during trading on Friday . The company traded as high as $74.15 and last traded at $73.30, with a volume of 466042 shares. The stock had previously closed at $70.87.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wedbush lifted their price target on shares of Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Truist Financial reduced their price target on shares of Boston Properties from $75.00 to $67.00 and set a “hold” rating for the company in a research note on Friday, June 14th. Evercore ISI cut their target price on shares of Boston Properties from $73.00 to $69.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Morgan Stanley restated an “equal weight” rating and set a $62.00 target price on shares of Boston Properties in a research report on Thursday, June 20th. Finally, Scotiabank boosted their target price on shares of Boston Properties from $74.00 to $76.00 and gave the company a “sector outperform” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $70.54.

Boston Properties Trading Up 3.2 %

The firm has a market capitalization of $11.49 billion, a P/E ratio of 58.09, a price-to-earnings-growth ratio of 0.46 and a beta of 1.18. The stock’s 50-day simple moving average is $66.03 and its two-hundred day simple moving average is $63.66. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.77.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The firm had revenue of $850.48 million during the quarter, compared to the consensus estimate of $819.49 million. Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.86 earnings per share. Equities research analysts expect that Boston Properties, Inc. will post 7.12 EPS for the current year.

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend was Friday, June 28th. Boston Properties’s dividend payout ratio (DPR) is presently 321.31%.

Hedge Funds Weigh In On Boston Properties

Several hedge funds have recently modified their holdings of BXP. International Assets Investment Management LLC purchased a new position in shares of Boston Properties in the fourth quarter worth $15,810,000. Cerity Partners LLC purchased a new stake in Boston Properties during the fourth quarter valued at $333,000. Louisiana State Employees Retirement System purchased a new stake in Boston Properties during the fourth quarter valued at $610,000. CWM LLC raised its stake in Boston Properties by 16.1% during the fourth quarter. CWM LLC now owns 6,200 shares of the real estate investment trust’s stock valued at $435,000 after purchasing an additional 862 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Boston Properties by 9.3% during the fourth quarter. Handelsbanken Fonder AB now owns 29,500 shares of the real estate investment trust’s stock valued at $2,070,000 after purchasing an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.