Boston Properties, Inc. (NYSE:BXP) Short Interest Down 6.2% in July

Boston Properties, Inc. (NYSE:BXP) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 6,940,000 shares, a decline of 6.2% from the July 15th total of 7,400,000 shares. Based on an average trading volume of 1,250,000 shares, the days-to-cover ratio is currently 5.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Boston Properties by 0.5% during the first quarter. Vanguard Group Inc. now owns 23,568,962 shares of the real estate investment trust’s stock worth $1,539,289,000 after buying an additional 122,583 shares during the period. Norges Bank acquired a new position in Boston Properties during the 4th quarter worth $890,848,000. Allspring Global Investments Holdings LLC grew its stake in shares of Boston Properties by 3.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,502,079 shares of the real estate investment trust’s stock worth $294,031,000 after purchasing an additional 166,105 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of Boston Properties by 25.9% during the second quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock valued at $162,348,000 after purchasing an additional 542,610 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Boston Properties by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,228,879 shares of the real estate investment trust’s stock valued at $156,407,000 after purchasing an additional 22,074 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

BXP has been the subject of several recent research reports. Wedbush increased their price target on Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 target price on shares of Boston Properties in a report on Thursday, June 20th. Evercore ISI decreased their price target on Boston Properties from $73.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Barclays dropped their price objective on shares of Boston Properties from $66.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. Finally, Truist Financial decreased their target price on shares of Boston Properties from $75.00 to $67.00 and set a “hold” rating for the company in a research note on Friday, June 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $70.54.

Boston Properties Trading Down 1.6 %

NYSE:BXP opened at $70.17 on Wednesday. Boston Properties has a 52 week low of $50.64 and a 52 week high of $73.97. The company has a quick ratio of 4.77, a current ratio of 4.83 and a debt-to-equity ratio of 1.90. The company has a market cap of $11.02 billion, a PE ratio of 57.52, a P/E/G ratio of 0.46 and a beta of 1.18. The business’s 50 day moving average is $65.63 and its two-hundred day moving average is $63.56.

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

Boston Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend was Friday, June 28th. Boston Properties’s payout ratio is 321.31%.

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.