DNB Asset Management AS Buys 11,163 Shares of Boston Properties, Inc. (NYSE:BXP)

DNB Asset Management AS grew its stake in Boston Properties, Inc. (NYSE:BXP) by 47.3% in the second quarter, HoldingsChannel reports. The fund owned 34,755 shares of the real estate investment trust’s stock after acquiring an additional 11,163 shares during the period. DNB Asset Management AS’s holdings in Boston Properties were worth $2,140,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Ieq Capital LLC raised its position in Boston Properties by 1.5% in the 4th quarter. Ieq Capital LLC now owns 11,184 shares of the real estate investment trust’s stock worth $785,000 after purchasing an additional 164 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in shares of Boston Properties by 2.8% during the first quarter. First Trust Direct Indexing L.P. now owns 6,620 shares of the real estate investment trust’s stock worth $432,000 after acquiring an additional 182 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Boston Properties by 6.3% during the first quarter. Sequoia Financial Advisors LLC now owns 3,348 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 199 shares during the period. Carson Advisory Inc. boosted its holdings in Boston Properties by 4.3% in the fourth quarter. Carson Advisory Inc. now owns 4,853 shares of the real estate investment trust’s stock valued at $341,000 after acquiring an additional 202 shares during the last quarter. Finally, Cambridge Trust Co. increased 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 purchasing an additional 250 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BXP. Wedbush raised their target price on shares of Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 target price on shares of Boston Properties in a research report on Thursday, June 20th. Evercore ISI reduced their price target on Boston Properties from $73.00 to $69.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Barclays dropped their price objective on Boston Properties from $66.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, May 24th. Finally, Truist Financial reduced their target price on Boston Properties from $75.00 to $67.00 and set a “hold” rating on the stock in a report on Friday, June 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $70.07.

Boston Properties Stock Performance

Shares of Boston Properties stock traded up $2.70 during trading on Tuesday, hitting $68.35. 1,641,105 shares of the stock were exchanged, compared to its average volume of 1,346,713. Boston Properties, Inc. has a 1-year low of $50.64 and a 1-year high of $73.97. The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of 56.63, a price-to-earnings-growth ratio of 0.46 and a beta of 1.18. The company has a fifty day moving average price of $63.48 and a 200-day moving average price of $63.57. The company has a current ratio of 4.83, a quick ratio of 4.77 and a debt-to-equity ratio of 1.90.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The business had revenue of $850.48 million for the quarter, compared to analyst estimates of $819.49 million. During the same period last year, the firm earned $1.86 EPS. Boston Properties’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts predict that Boston Properties, Inc. will post 7.12 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 5.74%. The ex-dividend date of this dividend was Friday, June 28th. Boston Properties’s dividend payout ratio is 321.31%.

About Boston Properties

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.