Boston Properties, Inc. (NYSE:BXP) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC lifted its holdings in shares of Boston Properties, Inc. (NYSE:BXP - Free Report) by 44.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,217 shares of the real estate investment trust's stock after purchasing an additional 18,034 shares during the quarter. AQR Capital Management LLC's holdings in Boston Properties were worth $3,526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Earnest Partners LLC boosted its stake in Boston Properties by 29.8% during the first quarter. Earnest Partners LLC now owns 2,094,625 shares of the real estate investment trust's stock worth $136,800,000 after buying an additional 480,961 shares during the period. Sei Investments Co. boosted its position in shares of Boston Properties by 32.9% during the 2nd quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust's stock worth $92,567,000 after purchasing an additional 371,946 shares during the period. Los Angeles Capital Management LLC increased its holdings in Boston Properties by 206.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 508,961 shares of the real estate investment trust's stock valued at $33,240,000 after purchasing an additional 342,939 shares during the last quarter. Principal Financial Group Inc. raised its position in Boston Properties by 108.1% in the first quarter. Principal Financial Group Inc. now owns 498,733 shares of the real estate investment trust's stock valued at $32,572,000 after purchasing an additional 259,074 shares during the period. Finally, Swedbank AB acquired a new position in Boston Properties during the first quarter worth $16,729,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Boston Properties Stock Performance

Shares of BXP stock traded down $0.84 during midday trading on Monday, hitting $79.90. The company had a trading volume of 904,518 shares, compared to its average volume of 1,276,789. The stock has a market cap of $12.55 billion, a price-to-earnings ratio of 65.57, a PEG ratio of 0.38 and a beta of 1.18. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.83. The company's 50 day simple moving average is $74.69 and its 200 day simple moving average is $66.61. Boston Properties, Inc. has a 52-week low of $50.64 and a 52-week high of $83.85.

Boston Properties (NYSE:BXP - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $850.48 million for the quarter, compared to analyst estimates of $819.49 million. During the same quarter last year, the firm earned $1.86 earnings per share. The company's revenue was up 4.1% compared to the same quarter last year. Research analysts anticipate that Boston Properties, Inc. will post 7.11 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.91%. Boston Properties's payout ratio is 321.31%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BXP. Piper Sandler lifted their price objective on Boston Properties from $70.00 to $78.00 and gave the company a "neutral" rating in a research note on Tuesday, September 3rd. Wedbush boosted their target price on Boston Properties from $63.00 to $70.00 and gave the stock a "neutral" rating in a research note on Monday, August 5th. Scotiabank upped their price target on Boston Properties from $76.00 to $82.00 and gave the company a "sector outperform" rating in a report on Wednesday, September 11th. Wells Fargo & Company upped their target price on shares of Boston Properties from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, September 11th. Finally, Truist Financial boosted their price target on shares of Boston Properties from $67.00 to $77.00 and gave the company a "hold" rating in a research report on Tuesday, August 27th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $74.83.

Insider Transactions at Boston Properties

In related news, EVP Peter V. Otteni sold 4,785 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter V. Otteni sold 4,785 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were 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. Corporate insiders own 1.35% of the company's stock.

Boston Properties 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.