Boston Properties, Inc. (NYSE:BXP) Holdings Decreased by Redwood Investment Management LLC

Redwood Investment Management LLC reduced its stake in shares of Boston Properties, Inc. (NYSE:BXP) by 7.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,375 shares of the real estate investment trust’s stock after selling 2,604 shares during the quarter. Redwood Investment Management LLC’s holdings in Boston Properties were worth $2,114,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Boston Properties during the first quarter valued at about $1,187,000. International Assets Investment Management LLC bought a new stake in Boston Properties in the fourth quarter worth about $15,810,000. abrdn plc raised its position in Boston Properties by 4.2% in the fourth quarter. abrdn plc now owns 713,840 shares of the real estate investment trust’s stock worth $50,090,000 after acquiring an additional 28,870 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Boston Properties by 387.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,825 shares of the real estate investment trust’s stock worth $4,900,000 after acquiring an additional 55,501 shares in the last quarter. Finally, National Bank of Canada FI raised its position in Boston Properties by 50.5% in the fourth quarter. National Bank of Canada FI now owns 46,377 shares of the real estate investment trust’s stock worth $3,343,000 after acquiring an additional 15,570 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial dropped their price target on shares of Boston Properties from $75.00 to $67.00 and set a “hold” rating on the stock in a research report on Friday, June 14th. BMO Capital Markets dropped their price target on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. Barclays dropped their price target on shares of Boston Properties from $66.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, May 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price target on shares of Boston Properties in a research report on Thursday, June 20th. Finally, StockNews.com cut Boston Properties from a “hold” rating to a “sell” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $69.60.

Boston Properties Stock Down 1.8 %

NYSE:BXP traded down $1.32 on Wednesday, hitting $71.31. 3,383,866 shares of the company’s stock traded hands, compared to its average volume of 1,337,862. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 1.91. Boston Properties, Inc. has a 1 year low of $50.64 and a 1 year high of $73.97. The firm has a 50-day moving average price of $62.99 and a 200-day moving average price of $63.61. The company has a market cap of $11.20 billion, a PE ratio of 58.45, a price-to-earnings-growth ratio of 0.47 and a beta of 1.18.

Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The business had revenue of $850.48 million for the quarter, compared to analysts’ expectations of $819.49 million. During the same period last year, the firm earned $1.86 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. Equities analysts anticipate that Boston Properties, Inc. will post 7.04 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.98 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.92 annualized dividend and a dividend yield of 5.50%. Boston Properties’s payout ratio is 321.31%.

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.