Russell Investments Group Ltd. Sells 556,808 Shares of Boston Properties, Inc. (NYSE:BXP)

Posted by Defense World Staff on May 12th, 2023

Russell Investments Group Ltd. trimmed its holdings in Boston Properties, Inc. (NYSE:BXP – Get Rating) by 75.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,925 shares of the real estate investment trust’s stock after selling 556,808 shares during the period. Russell Investments Group Ltd. owned 0.11% of Boston Properties worth $12,158,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BXP. Allspring Global Investments Holdings LLC grew its position in Boston Properties by 311.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,929,994 shares of the real estate investment trust’s stock worth $198,009,000 after acquiring an additional 2,218,223 shares in the last quarter. Waterfront Capital Partners LLC bought a new stake in Boston Properties in the third quarter worth approximately $57,777,000. State Street Corp grew its position in Boston Properties by 6.1% in the first quarter. State Street Corp now owns 11,026,679 shares of the real estate investment trust’s stock worth $1,430,779,000 after acquiring an additional 638,452 shares in the last quarter. Heitman Real Estate Securities LLC grew its position in Boston Properties by 2,536.7% in the third quarter. Heitman Real Estate Securities LLC now owns 542,432 shares of the real estate investment trust’s stock worth $40,666,000 after acquiring an additional 521,860 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 worth $3,011,742,000 after buying an additional 404,123 shares during the period. 88.62% of the stock is owned by institutional investors.

Boston Properties Price Performance

Shares of Boston Properties stock opened at $49.43 on Friday. Boston Properties, Inc. has a twelve month low of $46.18 and a twelve month high of $114.79. The firm has a market cap of $7.75 billion, a P/E ratio of 9.91 and a beta of 1.07. The company has a debt-to-equity ratio of 1.80, a quick ratio of 4.76 and a current ratio of 4.76. The firm’s 50-day simple moving average is $53.40 and its 200-day simple moving average is $64.38.

Boston Properties (NYSE:BXP – Get Rating) last announced its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($1.20). Boston Properties had a return on equity of 9.44% and a net margin of 24.82%. The company had revenue of $803.20 million during the quarter, compared to the consensus estimate of $778.80 million. During the same period in the prior year, the firm posted $1.82 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. As a group, research analysts expect that Boston Properties, Inc. will post 7.17 EPS for the current fiscal year.

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, March 31st were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 7.93%. The ex-dividend date was Thursday, March 30th. Boston Properties’s dividend payout ratio is presently 78.56%.

Wall Street Analysts Forecast Growth

BXP has been the topic of several recent analyst reports. Truist Financial lifted their target price on shares of Boston Properties from $82.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, February 6th. Argus dropped their target price on shares of Boston Properties from $82.00 to $70.00 in a report on Monday, May 1st. Piper Sandler dropped their target price on shares of Boston Properties from $74.00 to $57.00 and set a “neutral” rating on the stock in a report on Tuesday, March 21st. Evercore ISI dropped their target price on shares of Boston Properties from $79.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 27th. Finally, The Goldman Sachs Group initiated coverage on shares of Boston Properties in a report on Tuesday, March 21st. They issued a “neutral” rating and a $56.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Boston Properties currently has an average rating of “Hold” and a consensus price target of $73.49.

Insider Buying and Selling

In other Boston Properties news, Director Matthew J. Lustig purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The stock was acquired at an average cost of $52.92 per share, with a total value of $529,200.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $529,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.09% of the stock is currently owned by insiders.

Boston Properties Profile

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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.