Shell Asset Management Co. Sells 447 Shares of Boston Properties, Inc. (NYSE:BXP)

Shell Asset Management Co. reduced its holdings in Boston Properties, Inc. (NYSE:BXPGet Rating) by 10.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,654 shares of the real estate investment trust’s stock after selling 447 shares during the quarter. Shell Asset Management Co.’s holdings in Boston Properties were worth $325,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Tcwp LLC bought a new stake in Boston Properties in the first quarter worth approximately $26,000. CENTRAL TRUST Co increased its holdings in Boston Properties by 1,792.9% in the first quarter. CENTRAL TRUST Co now owns 265 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 251 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Boston Properties in the first quarter worth approximately $57,000. Venture Visionary Partners LLC bought a new stake in Boston Properties in the second quarter worth approximately $44,000. Finally, Cullen Frost Bankers Inc. increased its holdings in Boston Properties by 56.6% in the first quarter. Cullen Frost Bankers Inc. now owns 498 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 180 shares in the last quarter. 92.47% of the stock is currently owned by institutional investors.

Boston Properties Stock Down 0.8 %

BXP stock opened at $70.62 on Friday. The stock’s fifty day simple moving average is $75.04 and its two-hundred day simple moving average is $87.91. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 1.68. Boston Properties, Inc. has a 1-year low of $68.80 and a 1-year high of $133.11. The stock has a market cap of $11.07 billion, a P/E ratio of 12.18 and a beta of 1.05.

Boston Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Friday, September 30th were given a $0.98 dividend. The ex-dividend date was Thursday, September 29th. This represents a $3.92 annualized dividend and a yield of 5.55%. Boston Properties’s dividend payout ratio is currently 67.59%.

Analyst Ratings Changes

Several research firms have recently commented on BXP. Evercore ISI decreased their price objective on Boston Properties from $100.00 to $99.00 in a report on Tuesday, September 27th. Robert W. Baird decreased their price objective on Boston Properties from $105.00 to $83.00 in a report on Friday, September 23rd. Truist Financial decreased their price objective on Boston Properties from $96.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, November 1st. Wells Fargo & Company decreased their price objective on Boston Properties from $94.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, October 18th. Finally, Morgan Stanley decreased their price objective on Boston Properties from $80.00 to $78.00 and set an “equal weight” rating for the company in a report on Friday, September 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $92.30.

About Boston Properties

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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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Institutional Ownership by Quarter for Boston Properties (NYSE:BXP)

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