Boston Properties (NYSE:BXP) Trading 5.5% Higher – Should You Buy?

Boston Properties, Inc. (NYSE:BXP) shares shot up 5.5% during trading on Monday . The stock traded as high as $68.92 and last traded at $69.09. 301,792 shares were traded during trading, a decline of 74% from the average session volume of 1,164,896 shares. The stock had previously closed at $65.51.

Wall Street Analyst Weigh In

Several brokerages have commented on BXP. Wells Fargo & Company cut their target price on Boston Properties from $88.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Truist Financial boosted their price objective on Boston Properties from $77.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Piper Sandler dropped their price objective on Boston Properties from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Mizuho dropped their price objective on Boston Properties from $92.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Finally, Wedbush downgraded Boston Properties from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $80.85.

Boston Properties Stock Performance

The company’s 50-day moving average is $70.43 and its two-hundred day moving average is $76.73. The company has a quick ratio of 5.51, a current ratio of 5.69 and a debt-to-equity ratio of 2.09. The company has a market cap of $10.86 billion, a P/E ratio of 686.75, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19.

Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $1.28. Boston Properties had a net margin of 0.38% and a return on equity of 3.90%. Equities analysts predict that Boston Properties, Inc. will post 6.91 EPS for the current year.

Boston Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st were paid a $0.98 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.92 annualized dividend and a dividend yield of 5.71%. Boston Properties’s payout ratio is presently 3,920.00%.

Insider Transactions at Boston Properties

In related news, EVP Donna D. Garesche sold 2,143 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $67.87, for a total transaction of $145,445.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Hilary J. Spann sold 12,379 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $72.02, for a total transaction of $891,535.58. Following the sale, the executive vice president now owns 7,271 shares in the company, valued at $523,657.42. The trade was a 63.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Properties

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Canada Post Corp Registered Pension Plan bought a new position in shares of Boston Properties during the fourth quarter valued at about $32,000. Harvest Fund Management Co. Ltd grew its stake in shares of Boston Properties by 5,025.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 603 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Boston Properties during the third quarter valued at about $58,000. Huntington National Bank grew its stake in shares of Boston Properties by 29.8% during the fourth quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 263 shares during the last quarter. Finally, Hurley Capital LLC bought a new position in shares of Boston Properties during the fourth quarter valued at about $94,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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.