JPMorgan Chase & Co. Sells 469,331 Shares of Boston Properties, Inc. (NYSE:BXP)

JPMorgan Chase & Co. decreased its stake in shares of Boston Properties, Inc. (NYSE:BXP - Free Report) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,795,163 shares of the real estate investment trust's stock after selling 469,331 shares during the period. JPMorgan Chase & Co. owned about 3.03% of Boston Properties worth $385,819,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BXP. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Boston Properties by 61.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,578 shares of the real estate investment trust's stock worth $1,759,000 after acquiring an additional 10,928 shares in the last quarter. Victory Capital Management Inc. grew its position in Boston Properties by 189.0% in the 2nd quarter. Victory Capital Management Inc. now owns 79,552 shares of the real estate investment trust's stock worth $4,897,000 after purchasing an additional 52,026 shares in the last quarter. Toronto Dominion Bank increased its stake in Boston Properties by 15.7% in the 3rd quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust's stock valued at $3,966,000 after buying an additional 6,687 shares during the last quarter. Intact Investment Management Inc. lifted its position in shares of Boston Properties by 22.4% during the 2nd quarter. Intact Investment Management Inc. now owns 42,840 shares of the real estate investment trust's stock worth $2,637,000 after buying an additional 7,840 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of Boston Properties by 52.8% in the 2nd quarter. Natixis Advisors LLC now owns 148,073 shares of the real estate investment trust's stock worth $9,115,000 after buying an additional 51,158 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Boston Properties Stock Performance

Boston Properties stock traded down $1.62 during mid-day trading on Friday, reaching $74.61. The company's stock had a trading volume of 593,288 shares, compared to its average volume of 1,258,872. The firm's fifty day moving average price is $80.73 and its two-hundred day moving average price is $75.07. The company has a debt-to-equity ratio of 2.01, a quick ratio of 5.51 and a current ratio of 5.51. Boston Properties, Inc. has a 12-month low of $56.46 and a 12-month high of $90.11. The company has a market capitalization of $11.80 billion, a P/E ratio of 32.30, a PEG ratio of 0.55 and a beta of 1.17.

Boston Properties (NYSE:BXP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.28). The company had revenue of $859.23 million during the quarter, compared to analysts' expectations of $829.91 million. Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. Boston Properties's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 earnings per share. Sell-side analysts predict that Boston Properties, Inc. will post 7.1 EPS for the current fiscal year.

Boston Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Boston Properties's payout ratio is 169.70%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BXP. Piper Sandler raised Boston Properties from a "neutral" rating to an "overweight" rating and increased their price target for the company from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Evercore ISI raised their target price on Boston Properties from $77.00 to $84.00 and gave the company an "outperform" rating in a research report on Monday, September 16th. Compass Point raised shares of Boston Properties from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $80.00 to $88.00 in a report on Thursday, November 14th. Scotiabank restated a "sector perform" rating and set a $85.00 price target on shares of Boston Properties in a research report on Thursday, November 7th. Finally, Barclays lifted their price objective on shares of Boston Properties from $88.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Boston Properties has a consensus rating of "Hold" and an average price target of $81.38.

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.