Cerity Partners LLC Purchases Shares of 4,747 Boston Properties, Inc. (NYSE:BXP)

Cerity Partners LLC purchased a new stake in shares of Boston Properties, Inc. (NYSE:BXP) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,747 shares of the real estate investment trust’s stock, valued at approximately $333,000.

Other hedge funds have also added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. acquired a new position in Boston Properties during the 4th quarter valued at about $29,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Boston Properties in the 4th quarter worth approximately $34,000. Sound Income Strategies LLC boosted its stake in shares of Boston Properties by 770.9% in the 4th quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 424 shares during the last quarter. Sentry Investment Management LLC purchased a new position in shares of Boston Properties in the 3rd quarter worth approximately $47,000. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of Boston Properties in the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BXP. Jefferies Financial Group upgraded Boston Properties from a “hold” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $80.00 in a research note on Tuesday, January 2nd. BMO Capital Markets cut their target price on Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a research note on Monday, April 8th. StockNews.com upgraded Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Boston Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 price target on the stock. Finally, Truist Financial lowered their price target on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating on the stock in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $69.44.

Insider Buying and Selling at Boston Properties

In other news, EVP Raymond A. Ritchey sold 14,150 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total value of $889,186.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.35% of the company’s stock.

Boston Properties Trading Down 0.7 %

Shares of BXP stock opened at $61.50 on Friday. The company’s fifty day simple moving average is $63.12 and its two-hundred day simple moving average is $62.87. The company has a debt-to-equity ratio of 1.99, a current ratio of 5.40 and a quick ratio of 5.40. Boston Properties, Inc. has a 1 year low of $46.80 and a 1 year high of $73.97. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 50.83 and a beta of 1.15.

Boston Properties (NYSE:BXP) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.05). Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. The business had revenue of $828.90 million for the quarter, compared to the consensus estimate of $811.59 million. During the same period in the previous year, the firm earned $1.86 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that Boston Properties, Inc. will post 7.12 earnings per share for the current year.

Boston Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.92 dividend on an annualized basis and a yield of 6.37%. Boston Properties’s payout ratio is 323.97%.

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.