Raymond James & Associates Reduces Position in Boston Properties, Inc. (NYSE:BXP)

Raymond James & Associates lessened its position in shares of Boston Properties, Inc. (NYSE:BXP – Get Rating) by 59.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,789 shares of the real estate investment trust’s stock after selling 79,462 shares during the quarter. Raymond James & Associates’ holdings in Boston Properties were worth $3,703,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BXP. Vanguard Group Inc. grew its stake in shares of Boston Properties by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 23,527,167 shares of the real estate investment trust’s stock valued at $1,763,832,000 after purchasing an additional 91,834 shares during the last quarter. BlackRock Inc. grew its stake in shares of Boston Properties by 0.5% in the 3rd quarter. BlackRock Inc. now owns 17,154,333 shares of the real estate investment trust’s stock valued at $1,286,059,000 after purchasing an additional 83,628 shares during the last quarter. State Street Corp grew its stake in shares of Boston Properties by 0.4% in the 3rd quarter. State Street Corp now owns 11,071,148 shares of the real estate investment trust’s stock valued at $840,326,000 after purchasing an additional 47,386 shares during the last quarter. Putnam Investments LLC grew its stake in shares of Boston Properties by 4.2% in the 3rd quarter. Putnam Investments LLC now owns 3,496,066 shares of the real estate investment trust’s stock valued at $262,100,000 after purchasing an additional 140,445 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Boston Properties by 311.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,929,994 shares of the real estate investment trust’s stock valued at $198,009,000 after purchasing an additional 2,218,223 shares during the last quarter. Hedge funds and other institutional investors own 88.62% of the company’s stock.

Analysts Set New Price Targets

BXP has been the topic of several analyst reports. Argus lowered their target price on Boston Properties from $82.00 to $70.00 in a research note on Monday, May 1st. Truist Financial raised their price target on Boston Properties from $82.00 to $86.00 and gave the company a “hold” rating in a report on Monday, February 6th. StockNews.com assumed coverage on Boston Properties in a report on Thursday, May 18th. They issued a “hold” rating for the company. Piper Sandler reduced their price target on Boston Properties from $74.00 to $57.00 and set a “neutral” rating for the company in a report on Tuesday, March 21st. Finally, The Goldman Sachs Group assumed coverage on Boston Properties in a report on Tuesday, March 21st. They issued a “neutral” rating and a $56.00 price target for the company. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.49.

Boston Properties Stock Down 1.6 %

Shares of NYSE:BXP opened at $47.60 on Friday. The company has a quick ratio of 4.76, a current ratio of 4.76 and a debt-to-equity ratio of 1.80. Boston Properties, Inc. has a 52-week low of $46.18 and a 52-week high of $112.72. The stock’s fifty day simple moving average is $51.26 and its 200-day simple moving average is $62.76. The company has a market capitalization of $7.47 billion, a P/E ratio of 9.54 and a beta of 1.07.

Boston Properties (NYSE:BXP – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($1.20). Boston Properties had a net margin of 24.82% and a return on equity of 9.44%. The company had revenue of $803.20 million during the quarter, compared to analysts’ expectations of $778.80 million. During the same quarter in the prior year, the company earned $1.82 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that Boston Properties, Inc. will post 7.17 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Friday, March 31st were given a dividend of $0.98 per share. The ex-dividend date was Thursday, March 30th. This represents a $3.92 annualized dividend and a yield of 8.24%. Boston Properties’s dividend payout ratio (DPR) is presently 78.56%.

Insider Buying and Selling

In other Boston Properties news, Director Matthew J. Lustig bought 10,000 shares of Boston Properties stock in a transaction that occurred on Wednesday, March 15th. The shares were purchased at an average cost of $52.92 per share, for a total transaction of $529,200.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $529,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.22% of the stock is currently owned by company insiders.

Boston Properties Profile

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Boston Properties, Inc operates as a real estate investment trust. It develops, acquires, manages and owns a portfolio of Class A properties. The firm operates through the following geographical locations: Boston, New York, San Francisco and Washington. The company was founded by Mortimer Benjamin Zuckerman and Edward H.