Boston Properties, Inc. (NYSE:BXP) Sees Large Decrease in Short Interest

Boston Properties, Inc. (NYSE:BXP) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 5,840,000 shares, a drop of 6.9% from the August 15th total of 6,270,000 shares. Based on an average trading volume of 1,190,000 shares, the short-interest ratio is currently 4.9 days.

Boston Properties Trading Down 1.3 %

Shares of BXP opened at $80.41 on Wednesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.83. Boston Properties has a 1-year low of $50.64 and a 1-year high of $82.42. The company has a market capitalization of $12.63 billion, a P/E ratio of 65.91, a P/E/G ratio of 0.35 and a beta of 1.18. The firm’s 50 day simple moving average is $71.21 and its 200 day simple moving average is $65.03.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 2.05% and a net margin of 5.01%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.86 earnings per share. Sell-side analysts forecast that Boston Properties will post 7.11 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.88%. Boston Properties’s dividend payout ratio is 321.31%.

Analyst Ratings Changes

A number of analysts recently issued reports on BXP shares. Barclays lowered 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 report on Friday, May 24th. StockNews.com raised shares of Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Wells Fargo & Company increased their price objective on Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Truist Financial lifted their price objective on Boston Properties from $67.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Finally, Piper Sandler upped their price objective on shares of Boston Properties from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Boston Properties presently has an average rating of “Hold” and an average target price of $74.08.

Insider Buying and Selling at Boston Properties

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter V. Otteni sold 4,785 shares of Boston Properties stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The disclosure for this sale can be found here. Company insiders own 1.35% of the company’s stock.

Institutional Trading of Boston Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in shares of Boston Properties in the 1st quarter valued at $1,187,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Boston Properties by 387.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,825 shares of the real estate investment trust’s stock valued at $4,900,000 after buying an additional 55,501 shares during the last quarter. Perpetual Ltd purchased a new position in shares of Boston Properties in the first quarter worth about $1,205,000. SG Americas Securities LLC lifted its stake in shares of Boston Properties by 76.8% in the 2nd quarter. SG Americas Securities LLC now owns 110,242 shares of the real estate investment trust’s stock valued at $6,786,000 after acquiring an additional 47,882 shares during the last quarter. Finally, M&G Plc purchased a new stake in Boston Properties during the 1st quarter valued at about $3,807,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.