Whittier Trust Co. of Nevada Inc. Buys 3,502 Shares of Boston Properties, Inc. (NYSE:BXP)

21 Oct 2024, 20:44 by Sarita Garza · The Markets Daily

Whittier Trust Co. of Nevada Inc. increased its position in shares of Boston Properties, Inc. (NYSE:BXP – Free Report) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,871 shares of the real estate investment trust’s stock after acquiring an additional 3,502 shares during the quarter. Whittier Trust Co. of Nevada Inc. owned about 0.09% of Boston Properties worth $10,771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Whittier Trust Co. lifted its position in shares of Boston Properties by 4.2% in the third quarter. Whittier Trust Co. now owns 296,354 shares of the real estate investment trust’s stock valued at $23,844,000 after buying an additional 12,018 shares during the last quarter. Raymond James & Associates lifted its stake in Boston Properties by 11.9% in the 3rd quarter. Raymond James & Associates now owns 110,587 shares of the real estate investment trust’s stock valued at $8,898,000 after purchasing an additional 11,752 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Boston Properties by 60.5% during the third quarter. Blue Trust Inc. now owns 5,669 shares of the real estate investment trust’s stock worth $456,000 after purchasing an additional 2,138 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Boston Properties by 34.4% in the 3rd quarter. Sound Income Strategies LLC now owns 3,210 shares of the real estate investment trust’s stock valued at $258,000 after purchasing an additional 821 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in shares of Boston Properties during the 2nd quarter worth approximately $116,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Boston Properties Stock Performance

Shares of NYSE BXP traded down $2.64 during midday trading on Monday, reaching $87.08. The company had a trading volume of 732,170 shares, compared to its average volume of 1,266,605. The stock has a market cap of $13.68 billion, a P/E ratio of 71.38, a P/E/G ratio of 0.56 and a beta of 1.18. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 1.90. Boston Properties, Inc. has a 1 year low of $50.64 and a 1 year high of $90.11. The business’s 50-day simple moving average is $77.77 and its 200 day simple moving average is $68.09.

Boston Properties (NYSE:BXP – Get Free Report) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The company had revenue of $850.48 million during the quarter, compared to analysts’ expectations of $819.49 million. Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.86 EPS. On average, analysts forecast 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 $0.98 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.50%. Boston Properties’s dividend payout ratio (DPR) is presently 321.31%.

Insiders Place Their Bets

In other news, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction dated 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.

Analysts Set New Price Targets

Several brokerages recently issued reports on BXP. Piper Sandler lifted their target price on Boston Properties from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Truist Financial increased their price target on shares of Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Wedbush boosted their price objective on shares of Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Evercore ISI lifted their price target on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Finally, StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Boston Properties currently has an average rating of “Hold” and a consensus price target of $75.45.

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