Brooklyn Investment Group Invests $58,000 in Boston Properties, Inc. (NYSE:BXP)

Brooklyn Investment Group acquired a new position in shares of Boston Properties, Inc. (NYSE:BXP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 716 shares of the real estate investment trust’s stock, valued at approximately $58,000.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of Boston Properties by 76.8% during the 2nd quarter. SG Americas Securities LLC now owns 110,242 shares of the real estate investment trust’s stock valued at $6,786,000 after purchasing an additional 47,882 shares during the last quarter. DNB Asset Management AS lifted its holdings in shares of Boston Properties by 47.3% in the 2nd quarter. DNB Asset Management AS now owns 34,755 shares of the real estate investment trust’s stock worth $2,140,000 after acquiring an additional 11,163 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Boston Properties by 112.1% in the 1st quarter. Cetera Investment Advisers now owns 38,725 shares of the real estate investment trust’s stock worth $2,529,000 after acquiring an additional 20,468 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Boston Properties by 61.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,578 shares of the real estate investment trust’s stock valued at $1,759,000 after purchasing an additional 10,928 shares in the last quarter. Finally, AMF Tjanstepension AB purchased a new position in Boston Properties in the 2nd quarter worth $8,941,000. Institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’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 transaction of $1,621,248.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Piper Sandler upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Barclays lifted their target price on shares of Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Wells Fargo & Company lifted their target price on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Truist Financial lifted their target price on shares of Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Finally, Scotiabank restated a “sector perform” rating and issued a $85.00 price objective on shares of Boston Properties in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.92.

Boston Properties Price Performance

BXP stock opened at $82.86 on Friday. Boston Properties, Inc. has a 1 year low of $52.69 and a 1 year high of $90.11. The company has a market cap of $13.10 billion, a P/E ratio of 35.87, a PEG ratio of 0.56 and a beta of 1.18. The firm has a 50-day moving average of $82.43 and a 200 day moving average of $72.27. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 and a quick ratio of 5.51.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The company had revenue of $859.23 million during the quarter, compared to the consensus estimate of $829.91 million. During the same period in the previous year, the company earned $1.86 earnings per share. Boston Properties’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts forecast that Boston Properties, Inc. will post 7.1 EPS for the current year.

Boston Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Monday, September 30th. Boston Properties’s payout ratio is currently 169.70%.

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.