Naviter Wealth LLC Sells 1,085 Shares of Boston Properties, Inc. (NYSE:BXP)

Naviter Wealth LLC reduced its position in shares of Boston Properties, Inc. (NYSE:BXP) by 11.7% in the fourth quarter, Holdings Channel reports. The fund owned 8,215 shares of the real estate investment trust’s stock after selling 1,085 shares during the quarter. Naviter Wealth LLC’s holdings in Boston Properties were worth $584,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BXP. McGlone Suttner Wealth Management Inc. bought a new position in shares of Boston Properties during the 4th quarter valued at approximately $29,000. Sound Income Strategies LLC lifted its position in Boston Properties by 770.9% in the fourth quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 424 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Boston Properties in the fourth quarter worth $34,000. Cambridge Trust Co. lifted its position in Boston Properties by 80.1% in the fourth quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 250 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new stake in Boston Properties in the third quarter worth $47,000. 98.72% of the stock is currently owned by institutional investors.

Boston Properties Trading Down 1.5 %

Shares of BXP stock opened at $61.89 on Wednesday. The business’s 50 day moving average is $62.94 and its two-hundred day moving average is $63.06. Boston Properties, Inc. has a twelve month low of $46.80 and a twelve month high of $73.97. The company has a market capitalization of $9.72 billion, a P/E ratio of 51.15 and a beta of 1.15. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 1.99.

Boston Properties (NYSE:BXP) last announced its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.05). Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. The company had revenue of $828.90 million during the quarter, compared to analysts’ expectations of $811.59 million. During the same quarter last year, the business posted $1.86 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that Boston Properties, Inc. will post 7.12 EPS for the current year.

Boston Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were paid a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.33%. Boston Properties’s dividend payout ratio (DPR) is presently 323.97%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BXP shares. Barclays lowered their price target on Boston Properties from $67.00 to $66.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 27th. Truist Financial reduced their target price on Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a research note on Tuesday, March 5th. Jefferies Financial Group raised Boston Properties from a “hold” rating to a “buy” rating and upped their target price for the stock from $57.00 to $80.00 in a research note on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on Boston Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $74.00 price objective for the company. Finally, BMO Capital Markets reduced their price objective on Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Boston Properties has an average rating of “Hold” and an average target price of $69.44.

Insider Activity at Boston Properties

In related news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total value of $889,186.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company 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.