Peapack Gladstone Financial Corp Has $420,000 Stake in Boston Properties, Inc. (NYSE:BXP)

Peapack Gladstone Financial Corp reduced its holdings in Boston Properties, Inc. (NYSE:BXP) by 11.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,216 shares of the real estate investment trust’s stock after selling 684 shares during the period. Peapack Gladstone Financial Corp’s holdings in Boston Properties were worth $420,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Boston Properties by 212.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 386 shares during the last quarter. UMB Bank n.a. increased its position in shares of Boston Properties by 115.5% during the 2nd quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 380 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in shares of Boston Properties by 5,025.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 603 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Boston Properties during the 3rd quarter worth approximately $58,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Boston Properties by 61.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 547 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Truist Financial upped their price target on shares of Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Barclays upped their target price on shares of Boston Properties from $88.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Evercore ISI lifted their price target on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Wells Fargo & Company upped their price objective on Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Finally, UBS Group lifted their target price on Boston Properties from $64.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $81.38.

Boston Properties Stock Up 0.8 %

BXP opened at $80.55 on Tuesday. The stock has a fifty day moving average of $82.41 and a 200-day moving average of $74.06. The company has a market capitalization of $12.74 billion, a P/E ratio of 34.87, a P/E/G ratio of 0.55 and a beta of 1.17. Boston Properties, Inc. has a fifty-two week low of $56.46 and a fifty-two week high of $90.11. The company has a debt-to-equity ratio of 2.01, a quick ratio of 5.51 and a current ratio of 5.51.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The business had revenue of $859.23 million during the quarter, compared to the consensus estimate of $829.91 million. During the same period in the prior year, the firm earned $1.86 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts expect that Boston Properties, Inc. will post 7.1 EPS for the current year.

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.