Van ECK Associates Corp Boosts Stock Position in Boston Properties, Inc. (NYSE:BXP)

Van ECK Associates Corp increased its stake in shares of Boston Properties, Inc. (NYSE:BXP - Free Report) by 12.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,275 shares of the real estate investment trust's stock after buying an additional 7,447 shares during the period. Van ECK Associates Corp's holdings in Boston Properties were worth $6,024,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Boston Properties by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 23,568,962 shares of the real estate investment trust's stock worth $1,539,289,000 after purchasing an additional 122,583 shares during the last quarter. Earnest Partners LLC raised its stake in shares of Boston Properties by 25.9% in the second quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust's stock valued at $162,348,000 after buying an additional 542,610 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Boston Properties by 6.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,923,225 shares of the real estate investment trust's stock valued at $118,394,000 after buying an additional 120,650 shares during the last quarter. Sei Investments Co. grew its stake 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 acquiring an additional 371,946 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Boston Properties by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,248,824 shares of the real estate investment trust's stock worth $76,878,000 after acquiring an additional 38,048 shares during the period. Institutional investors own 98.72% of the company's stock.

Insider Activity

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through the SEC website. In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Raymond A. Ritchey sold 21,835 shares of the business's stock in a transaction that occurred 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 disclosure for this sale can be found here. Corporate insiders own 1.35% of the company's stock.

Boston Properties Price Performance

BXP traded up $0.07 on Friday, reaching $82.69. The company had a trading volume of 699,212 shares, compared to its average volume of 1,274,154. Boston Properties, Inc. has a 52-week low of $50.64 and a 52-week high of $90.11. The company has a market cap of $12.99 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 0.55 and a beta of 1.18. The company has a debt-to-equity ratio of 2.01, a quick ratio of 4.83 and a current ratio of 5.51. The business has a 50 day simple moving average of $81.19 and a 200 day simple moving average of $70.16.

Boston Properties (NYSE:BXP - Get Free Report) last posted its quarterly earnings data 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). Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The company had revenue of $859.23 million for the quarter, compared to analysts' expectations of $829.91 million. During the same quarter last year, the business posted $1.86 EPS. The business's quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boston Properties, Inc. will post 7.1 EPS for the current year.

Boston Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend was Monday, September 30th. Boston Properties's payout ratio is currently 169.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BXP shares. UBS Group upped their price objective on shares of Boston Properties from $64.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday. Truist Financial upped their price target on shares of Boston Properties from $67.00 to $77.00 and gave the company a "hold" rating in a research note on Tuesday, August 27th. Piper Sandler upgraded shares of Boston Properties from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $78.00 to $105.00 in a research note on Wednesday, October 23rd. Wedbush increased their target price on Boston Properties from $63.00 to $70.00 and gave the stock a "neutral" rating in a research report on Monday, August 5th. Finally, Compass Point raised their price target on Boston Properties from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $80.23.

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.