Boston Properties (NYSE:BXP) Trading Up 5.5% - Here's Why

Boston Properties, Inc. (NYSE:BXP - Get Free Report)'s share price was up 5.5% on Monday . The stock traded as high as $68.92 and last traded at $69.09. Approximately 301,792 shares traded hands during trading, a decline of 74% from the average daily volume of 1,164,896 shares. The stock had previously closed at $65.51.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BXP shares. Piper Sandler dropped their target price on shares of Boston Properties from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Wells Fargo & Company cut their target price on Boston Properties from $88.00 to $80.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Truist Financial upped their price objective on shares of Boston Properties from $77.00 to $83.00 and gave the company a "hold" rating in a research report on Wednesday, December 4th. Scotiabank cut their price target on shares of Boston Properties from $85.00 to $83.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Finally, Mizuho reduced their price objective on Boston Properties from $92.00 to $86.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Boston Properties has an average rating of "Hold" and a consensus price target of $80.85.

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Boston Properties Trading Up 0.0 %

The firm has a fifty day moving average price of $70.27 and a 200-day moving average price of $76.52. The company has a debt-to-equity ratio of 2.09, a current ratio of 5.69 and a quick ratio of 5.51. The company has a market capitalization of $10.84 billion, a P/E ratio of 685.07, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19.

Boston Properties (NYSE:BXP - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share for the quarter, beating the consensus estimate of $0.51 by $1.28. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. On average, equities research analysts anticipate that Boston Properties, Inc. will post 6.91 earnings per share for the current year.

Boston Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.98 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.92 annualized dividend and a dividend yield of 5.72%. Boston Properties's dividend payout ratio is currently 3,920.00%.

Insider Buying and Selling at Boston Properties

In other news, EVP Donna D. Garesche sold 2,143 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $67.87, for a total value of $145,445.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Hilary J. Spann sold 12,379 shares of Boston Properties stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $72.02, for a total transaction of $891,535.58. Following the transaction, the executive vice president now directly owns 7,271 shares of the company's stock, valued at approximately $523,657.42. This trade represents a 63.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Boston Properties

Several large investors have recently modified their holdings of the company. Canada Post Corp Registered Pension Plan purchased a new position in Boston Properties during the fourth quarter valued at approximately $32,000. Harvest Fund Management Co. Ltd increased its position in shares of Boston Properties by 5,025.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 603 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Boston Properties during the 3rd quarter worth about $58,000. Huntington National Bank boosted its position in shares of Boston Properties by 29.8% during the fourth quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust's stock valued at $85,000 after buying an additional 263 shares during the period. Finally, Hurley Capital LLC bought a new position in Boston Properties in the 4th quarter valued at $94,000. Institutional investors own 98.72% of the company's stock.

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.