Boston Properties, Inc. (NYSE:BXP) Short Interest Update

Boston Properties, Inc. (NYSE:BXP) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 8,060,000 shares, an increase of 7.9% from the March 15th total of 7,470,000 shares. Based on an average daily volume of 1,470,000 shares, the short-interest ratio is presently 5.5 days.

Insider Activity

In related news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction dated 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 at this link. Corporate insiders own 1.09% of the company’s stock.

Institutional Investors Weigh In On Boston Properties

Hedge funds have recently modified their holdings of the stock. Eagle Bay Advisors LLC purchased a new position in shares of Boston Properties during the 2nd quarter valued at $31,000. Manchester Capital Management LLC grew its position in shares of Boston Properties by 435.9% during the 4th quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 340 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Boston Properties during the 4th quarter valued at $29,000. Quarry LP purchased a new position in shares of Boston Properties during the 4th quarter valued at $29,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Boston Properties during the 4th quarter valued at $34,000. Institutional investors own 98.72% of the company’s stock.

Boston Properties Stock Down 0.1 %

BXP stock traded down $0.03 during mid-day trading on Wednesday, reaching $57.95. 1,416,308 shares of the company traded hands, compared to its average volume of 1,454,424. The stock has a market cap of $9.10 billion, a price-to-earnings ratio of 47.89 and a beta of 1.15. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 1.99. Boston Properties has a fifty-two week low of $46.80 and a fifty-two week high of $73.97. The firm’s 50 day moving average price is $63.73 and its 200 day moving average price is $62.64.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $811.59 million. During the same quarter last year, the firm posted $1.86 EPS. Boston Properties’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts predict that Boston Properties will post 7.12 EPS for the current fiscal year.

Boston Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.76%. Boston Properties’s dividend payout ratio (DPR) is presently 323.97%.

Wall Street Analysts Forecast Growth

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

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.