Federated Hermes Inc. Sells 614 Shares of Boston Properties, Inc. (NYSE:BXP)

Federated Hermes Inc. decreased its holdings in Boston Properties, Inc. (NYSE:BXP) by 30.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,400 shares of the real estate investment trust’s stock after selling 614 shares during the period. Federated Hermes Inc.’s holdings in Boston Properties were worth $86,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. UMB Bank n.a. lifted its stake in shares of Boston Properties by 115.5% during the 2nd quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 380 shares during the last quarter. Abich Financial Wealth Management LLC boosted its holdings in shares of Boston Properties by 59.1% during the first quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 395 shares during the period. Sound Income Strategies LLC grew its position in shares of Boston Properties by 198.1% in the first quarter. Sound Income Strategies LLC now owns 1,428 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 949 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Boston Properties during the 2nd quarter worth $91,000. Finally, Mather Group LLC. acquired a new position in shares of Boston Properties in the first quarter valued at about $108,000. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BXP. Truist Financial raised their target price on shares of Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Wedbush increased their target price on Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Wells Fargo & Company boosted their target price on shares of Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Evercore ISI raised their target price on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Finally, Piper Sandler boosted their target price on Boston Properties from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.08.

Insider Transactions at Boston Properties

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction on Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter V. Otteni sold 4,785 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total transaction of $351,410.40. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.

Boston Properties Stock Down 2.1 %

Shares of NYSE:BXP opened at $80.78 on Thursday. The firm has a market cap of $12.69 billion, a P/E ratio of 66.21, a P/E/G ratio of 0.38 and a beta of 1.18. Boston Properties, Inc. has a 12-month low of $50.64 and a 12-month high of $83.85. The business has a fifty day simple moving average of $72.74 and a 200 day simple moving average of $65.65. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The company had revenue of $850.48 million for the quarter, compared to the consensus estimate of $819.49 million. During the same quarter last year, the business earned $1.86 earnings per share. Boston Properties’s revenue was up 4.1% compared to the same quarter last year. Analysts predict that Boston Properties, Inc. will post 7.11 earnings per share for the current year.

Boston Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Monday, September 30th. Boston Properties’s dividend payout ratio is currently 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.