Short Interest in Boston Properties, Inc. (NYSE:BXP) Grows By 7.9%

Boston Properties, Inc. (NYSE:BXP) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 8,060,000 shares, a growth 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 currently 5.5 days.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BXP shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Boston Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $74.00 price target on the stock. BMO Capital Markets dropped their target price on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Barclays dropped their target price on shares of 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. Piper Sandler lifted their price target on shares of Boston Properties from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, December 20th. Finally, StockNews.com raised shares of Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. One 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.com, Boston Properties currently has a consensus rating of “Hold” and an average price target of $69.44.

Insider Buying and Selling at Boston Properties

In related news, EVP Raymond A. Ritchey sold 14,150 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total transaction of $889,186.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in Boston Properties during the fourth quarter valued at approximately $15,810,000. Dark Forest Capital Management LP purchased a new position in Boston Properties during the third quarter valued at approximately $904,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Boston Properties by 12.0% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 221,845 shares of the real estate investment trust’s stock valued at $13,195,000 after purchasing an additional 23,795 shares in the last quarter. Whittier Trust Co. grew its position in Boston Properties by 345.4% during the fourth quarter. Whittier Trust Co. now owns 176,741 shares of the real estate investment trust’s stock valued at $12,401,000 after purchasing an additional 137,058 shares in the last quarter. Finally, abrdn plc grew its position in Boston Properties by 8.2% during the third quarter. abrdn plc now owns 684,970 shares of the real estate investment trust’s stock valued at $40,742,000 after purchasing an additional 51,926 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Boston Properties Trading Down 0.1 %

Shares of BXP stock traded down $0.03 during trading hours on Wednesday, reaching $57.95. 1,413,402 shares of the stock traded hands, compared to its average volume of 1,454,385. Boston Properties has a 1-year low of $46.80 and a 1-year high of $73.97. The business has a fifty day moving average price of $63.73 and a 200 day moving average price of $62.64. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 1.99. The firm has a market capitalization of $9.10 billion, a PE ratio of 47.89 and a beta of 1.15.

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 firm had revenue of $828.90 million for the quarter, compared to analyst estimates of $811.59 million. During the same quarter in the prior year, the firm earned $1.86 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Boston Properties will post 7.12 EPS for the current year.

Boston Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.98 per share. The ex-dividend date 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 is currently 323.97%.

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.