Boston Properties (NYSE:BXP) Hits New 1-Year Low – Here’s What Happened

Boston Properties, Inc. (NYSE:BXP) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $56.44 and last traded at $57.39, with a volume of 84114 shares changing hands. The stock had previously closed at $60.42.

Wall Street Analyst Weigh In

BXP has been the topic of a number of recent research reports. Wedbush cut Boston Properties from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 30th. Mizuho reduced their price target on Boston Properties from $92.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler lowered their price objective 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 reduced their target price on shares of Boston Properties from $88.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Barclays lowered their price target on shares of Boston Properties from $89.00 to $79.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Boston Properties presently has a consensus rating of “Hold” and an average target price of $80.85.

Boston Properties Stock Performance

The company’s fifty day simple moving average is $69.17 and its two-hundred day simple moving average is $75.75. The company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 584.37, a price-to-earnings-growth ratio of 0.91 and a beta of 1.06. The company has a debt-to-equity ratio of 2.09, a quick ratio of 5.51 and a current ratio of 5.69.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $1.28. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. Equities research analysts predict that Boston Properties, Inc. will post 6.91 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 6.71%. Boston Properties’s dividend payout ratio (DPR) is 3,920.00%.

Insider Buying and Selling

In related news, EVP Hilary J. Spann sold 12,379 shares of the business’s 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 completion of the sale, the executive vice president now owns 7,271 shares of the company’s stock, valued at $523,657.42. This represents a 63.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donna D. Garesche sold 2,143 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $67.87, for a total transaction of $145,445.41. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boston Properties

Several institutional investors have recently made changes to their positions in the stock. Cbre Investment Management Listed Real Assets LLC boosted its position in Boston Properties by 12.5% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 170,504 shares of the real estate investment trust’s stock valued at $12,679,000 after purchasing an additional 18,900 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Boston Properties during the fourth quarter valued at $8,994,000. Toronto Dominion Bank grew its position in shares of Boston Properties by 15.7% during the third quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust’s stock worth $3,966,000 after acquiring an additional 6,687 shares during the last quarter. Cibc World Markets Corp increased its holdings in shares of Boston Properties by 12.2% in the 4th quarter. Cibc World Markets Corp now owns 65,481 shares of the real estate investment trust’s stock worth $4,869,000 after acquiring an additional 7,100 shares during the period. Finally, Wealthfront Advisers LLC lifted its position in Boston Properties by 198.9% in the 4th quarter. Wealthfront Advisers LLC now owns 149,156 shares of the real estate investment trust’s stock valued at $11,091,000 after purchasing an additional 99,248 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

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.