Ferguson Wellman Capital Management Inc. lifted its holdings in Boston Properties, Inc. (NYSE:BXP – Get Rating) by 18.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,639 shares of the real estate investment trust’s stock after acquiring an additional 1,372 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Boston Properties were worth $584,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Waterfront Capital Partners LLC bought a new position in Boston Properties in the 3rd quarter worth $57,777,000. Allspring Global Investments Holdings LLC grew its position in Boston Properties by 3,658.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 711,771 shares of the real estate investment trust’s stock valued at $53,360,000 after purchasing an additional 692,831 shares during the last quarter. State Street Corp lifted its stake in Boston Properties by 6.1% during the 1st quarter. State Street Corp now owns 11,026,679 shares of the real estate investment trust’s stock valued at $1,430,779,000 after acquiring an additional 638,452 shares during the period. Heitman Real Estate Securities LLC lifted its stake in Boston Properties by 2,536.7% during the 3rd quarter. Heitman Real Estate Securities LLC now owns 542,432 shares of the real estate investment trust’s stock valued at $40,666,000 after acquiring an additional 521,860 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Boston Properties by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 23,383,095 shares of the real estate investment trust’s stock valued at $3,011,742,000 after acquiring an additional 404,123 shares during the period. 88.62% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on BXP shares. Truist Financial increased their price objective on shares of Boston Properties from $82.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, February 6th. Wells Fargo & Company cut their target price on shares of Boston Properties from $76.00 to $64.00 and set an “overweight” rating for the company in a report on Thursday, March 16th. Piper Sandler cut their target price on shares of Boston Properties from $74.00 to $57.00 and set a “neutral” rating for the company in a report on Tuesday. StockNews.com initiated coverage on shares of Boston Properties in a report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Mizuho dropped their price objective on shares of Boston Properties from $95.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, January 4th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $79.85.
Boston Properties Stock Down 6.8 %
Boston Properties (NYSE:BXP – Get Rating) last released its quarterly earnings results on Wednesday, February 1st. The real estate investment trust reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($1.06). Boston Properties had a return on equity of 10.31% and a net margin of 27.31%. The business had revenue of $789.82 million for the quarter, compared to analysts’ expectations of $732.90 million. During the same quarter in the prior year, the company posted $1.55 earnings per share. On average, research analysts expect that Boston Properties, Inc. will post 7.14 earnings per share for the current year.
Boston Properties Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 7.85%. The ex-dividend date of this dividend is Thursday, March 30th. Boston Properties’s dividend payout ratio (DPR) is presently 72.59%.
Insider Transactions at Boston Properties
In other news, Director Matthew J. Lustig purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The shares were purchased at an average price of $52.92 per share, for a total transaction of $529,200.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $529,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.09% of the company’s stock.
About Boston Properties
Boston Properties, Inc operates as a real estate investment trust. It develops, acquires, manages and owns a portfolio of Class A properties. The firm operates through the following geographical locations: Boston, New York, San Francisco and Washington. The company was founded by Mortimer Benjamin Zuckerman and Edward H.
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