BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $886,000 Holdings in Boston Properties, Inc. (NYSE:BXP)

Posted by Defense World Staff on Jun 4th, 2023

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in shares of Boston Properties, Inc. (NYSE:BXP – Get Rating) by 10.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,106 shares of the real estate investment trust’s stock after selling 1,479 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Boston Properties were worth $886,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BXP. Armstrong Advisory Group Inc. purchased a new stake in shares of Boston Properties during the 4th quarter worth about $25,000. Eagle Bay Advisors LLC raised its stake in shares of Boston Properties by 103.5% during the 4th quarter. Eagle Bay Advisors LLC now owns 464 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 236 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Boston Properties by 45.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 530 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 165 shares in the last quarter. CENTRAL TRUST Co raised its stake in shares of Boston Properties by 103.8% during the 3rd quarter. CENTRAL TRUST Co now owns 540 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 275 shares in the last quarter. Finally, Silvant Capital Management LLC raised its stake in shares of Boston Properties by 186.9% during the 4th quarter. Silvant Capital Management LLC now owns 614 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 400 shares in the last quarter. 88.62% of the stock is owned by hedge funds and other institutional investors.

Boston Properties Price Performance

Shares of NYSE:BXP opened at $50.64 on Friday. The business’s 50 day moving average is $51.03 and its 200-day moving average is $61.64. The company has a current ratio of 4.76, a quick ratio of 4.76 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $7.94 billion, a PE ratio of 10.15 and a beta of 1.07. Boston Properties, Inc. has a 1-year low of $46.18 and a 1-year high of $108.56.

Boston Properties (NYSE:BXP – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $1.70 by ($1.20). The company had revenue of $803.20 million during the quarter, compared to analyst estimates of $778.80 million. Boston Properties had a net margin of 24.82% and a return on equity of 9.44%. Boston Properties’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.82 EPS. Sell-side analysts predict that Boston Properties, Inc. will post 7.16 earnings per share for the current year.

Boston Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, March 31st were given a $0.98 dividend. The ex-dividend date was Thursday, March 30th. This represents a $3.92 annualized dividend and a yield of 7.74%. Boston Properties’s payout ratio is 78.56%.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, Director Carol B. Einiger acquired 10,000 shares of the business’s stock in a transaction on Friday, May 26th. The stock was purchased at an average price of $47.41 per share, for a total transaction of $474,100.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $474,100. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BXP. Truist Financial raised their price objective on Boston Properties from $82.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, February 6th. Wells Fargo & Company cut their price objective on Boston Properties from $76.00 to $64.00 and set an “overweight” rating on the stock in a research note on Thursday, March 16th. StockNews.com began coverage on Boston Properties in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Argus cut their price objective on Boston Properties from $82.00 to $70.00 in a research note on Monday, May 1st. Finally, Evercore ISI cut their price objective on Boston Properties from $79.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 27th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Boston Properties currently has a consensus rating of “Hold” and an average price target of $73.49.

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.