Boston Properties, Inc. (NYSE:BXP) Sees Significant Decline in Short Interest

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Truist Financial upped their target price on Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Wells Fargo & Company upped their price objective on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Barclays dropped their target price on shares of Boston Properties from $66.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, May 24th. Evercore ISI boosted their price target on shares of Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Piper Sandler raised their price objective on shares of Boston Properties from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Boston Properties has a consensus rating of “Hold” and an average price target of $74.08.

Insider Buying and Selling

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

Institutional Trading of Boston Properties

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Boston Properties by 0.5% during the first quarter. Vanguard Group Inc. now owns 23,568,962 shares of the real estate investment trust’s stock valued at $1,539,289,000 after buying an additional 122,583 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Boston Properties by 3.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,502,079 shares of the real estate investment trust’s stock worth $294,031,000 after purchasing an additional 166,105 shares in the last quarter. Earnest Partners LLC raised its stake in shares of Boston Properties by 25.9% in the second quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock worth $162,348,000 after purchasing an additional 542,610 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Boston Properties by 11.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,036,968 shares of the real estate investment trust’s stock worth $142,934,000 after purchasing an additional 209,141 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its holdings in shares of Boston Properties by 30.9% during the fourth quarter. Centersquare Investment Management LLC now owns 1,986,707 shares of the real estate investment trust’s stock valued at $139,407,000 after purchasing an additional 468,950 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Boston Properties Price Performance

Shares of BXP opened at $80.41 on Wednesday. The firm’s 50-day simple moving average is $71.21 and its two-hundred day simple moving average is $65.03. Boston Properties has a fifty-two week low of $50.64 and a fifty-two week high of $82.42. The stock has a market cap of $12.63 billion, a PE ratio of 65.91, a price-to-earnings-growth ratio of 0.35 and a beta of 1.18. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The company had revenue of $850.48 million during the quarter, compared to analysts’ expectations of $819.49 million. During the same quarter in the previous year, the company earned $1.86 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts anticipate that Boston Properties will post 7.11 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

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

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.