Whittier Trust Co. Trims Stock Position in Boston Properties, Inc. (NYSE:BXP)


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Whittier Trust Co. lowered its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 56.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,172 shares of the real estate investment trust’s stock after selling 1,500 shares during the quarter. Whittier Trust Co.’s holdings in Boston Properties were worth $119,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BBVA USA Bancshares Inc. increased its position in shares of Boston Properties by 30.2% during the 1st quarter. BBVA USA Bancshares Inc. now owns 12,545 shares of the real estate investment trust’s stock valued at $1,271,000 after purchasing an additional 2,908 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co increased its position in shares of Boston Properties by 9.1% during the 1st quarter. Ilmarinen Mutual Pension Insurance Co now owns 65,430 shares of the real estate investment trust’s stock valued at $6,625,000 after purchasing an additional 5,430 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its holdings in Boston Properties by 47.0% in the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 150,706 shares of the real estate investment trust’s stock worth $15,260,000 after acquiring an additional 48,190 shares in the last quarter. IMS Capital Management raised its stake in Boston Properties by 12.1% during the 1st quarter. IMS Capital Management now owns 4,220 shares of the real estate investment trust’s stock worth $427,000 after acquiring an additional 455 shares during the period. Finally, Sentry Investment Management LLC bought a new stake in Boston Properties during the 1st quarter worth approximately $149,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

In other Boston Properties news, EVP Raymond A. Ritchey sold 5,000 shares of Boston Properties stock in a transaction on Monday, April 26th. The shares were sold at an average price of $106.32, for a total transaction of $531,600.00. Following the completion of the transaction, the executive vice president now directly owns 50,000 shares of the company’s stock, valued at $5,316,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is owned by insiders.

A number of equities research analysts have commented on the stock. Truist Securities restated a “hold” rating and set a $109.00 target price on shares of Boston Properties in a research note on Monday, March 22nd. Truist cut shares of Boston Properties from a “buy” rating to a “hold” rating and set a $109.00 target price on the stock. in a research note on Monday, March 15th. TheStreet cut shares of Boston Properties from a “b-” rating to a “c+” rating in a research note on Wednesday, January 27th. Mizuho raised their target price on shares of Boston Properties from $86.00 to $107.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Boston Properties from $103.00 to $107.00 and gave the company a “hold” rating in a report on Monday, April 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Boston Properties presently has a consensus rating of “Hold” and an average price target of $102.40.

BXP stock opened at $108.08 on Tuesday. The firm has a fifty day moving average price of $105.56 and a 200 day moving average price of $96.11. Boston Properties, Inc. has a fifty-two week low of $69.69 and a fifty-two week high of $110.36. The company has a debt-to-equity ratio of 1.60, a quick ratio of 7.03 and a current ratio of 7.03. The firm has a market cap of $16.87 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 6.54 and a beta of 1.24.

Boston Properties (NYSE:BXP) last posted its earnings results on Monday, April 26th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $713.70 million during the quarter, compared to analyst estimates of $679.79 million. Boston Properties had a net margin of 35.17% and a return on equity of 12.31%. Boston Properties’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the firm posted $3.20 earnings per share. On average, equities analysts predict that Boston Properties, Inc. will post 6.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 30th. Shareholders of record on Wednesday, March 31st were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 3.63%. The ex-dividend date was Tuesday, March 30th. Boston Properties’s payout ratio is 55.92%.

About Boston Properties

Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.

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Institutional Ownership by Quarter for Boston Properties (NYSE:BXP)

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