Raymond A. Ritchey Sells 65,000 Shares of Boston Properties, Inc. (NYSE:BXP) Stock

Boston Properties, Inc. (NYSE:BXP) EVP Raymond A. Ritchey sold 65,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $67.11, for a total value of $4,362,150.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Boston Properties Price Performance

NYSE:BXP opened at $65.89 on Friday. Boston Properties, Inc. has a 12 month low of $46.18 and a 12 month high of $87.61. The stock has a 50 day moving average of $64.12 and a two-hundred day moving average of $57.60. The company has a current ratio of 5.76, a quick ratio of 5.76 and a debt-to-equity ratio of 1.90. The firm has a market cap of $10.34 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 5.81 and a beta of 1.13.

Boston Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend is Thursday, September 28th. Boston Properties’s payout ratio is currently 92.67%.

Hedge Funds Weigh In On Boston Properties

Several hedge funds have recently made changes to their positions in BXP. Vanguard Group Inc. lifted its position in Boston Properties by 1.8% in the first quarter. Vanguard Group Inc. now owns 23,383,095 shares of the real estate investment trust’s stock valued at $3,011,742,000 after purchasing an additional 404,123 shares during the period. BlackRock Inc. increased its holdings in shares of Boston Properties by 0.5% during the 2nd quarter. BlackRock Inc. now owns 18,399,649 shares of the real estate investment trust’s stock worth $1,059,636,000 after buying an additional 100,495 shares during the last quarter. Norges Bank purchased a new stake in Boston Properties during the 4th quarter worth $857,967,000. State Street Corp boosted its position in Boston Properties by 1.3% during the 2nd quarter. State Street Corp now owns 11,765,331 shares of the real estate investment trust’s stock worth $688,767,000 after purchasing an additional 151,276 shares during the period. Finally, APG Asset Management US Inc. boosted its position in Boston Properties by 2.2% in the 2nd quarter. APG Asset Management US Inc. now owns 7,525,913 shares of the real estate investment trust’s stock valued at $433,417,000 after buying an additional 164,726 shares during the last quarter. Hedge funds and other institutional investors own 94.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BXP. StockNews.com raised Boston Properties from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Wells Fargo & Company raised their price target on Boston Properties from $64.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 9th. Truist Financial reduced their price objective on Boston Properties from $86.00 to $75.00 in a report on Thursday, July 6th. The Goldman Sachs Group raised their price objective on Boston Properties from $56.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, August 11th. Finally, JPMorgan Chase & Co. raised their price objective on Boston Properties from $62.00 to $66.00 and gave the stock an “underweight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $72.11.

About Boston Properties

BXP (NYSE: BXP) 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.