Boston Properties (NYSE:BXP) Shares Cross Above 200-Day Moving Average – Here’s Why

Boston Properties, Inc. (NYSE:BXP)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $70.29 and traded as high as $71.70. Boston Properties shares last traded at $71.37, with a volume of 1,886,574 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Scotiabank dropped their target price on shares of Boston Properties from $85.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Barclays decreased their price objective on shares of Boston Properties from $89.00 to $79.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Jefferies Financial Group began coverage on shares of Boston Properties in a research note on Monday, March 17th. They issued a “buy” rating and a $78.00 price objective for the company. Truist Financial decreased their price objective on shares of Boston Properties from $75.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, May 27th. Finally, Wells Fargo & Company decreased their target price on Boston Properties from $80.00 to $78.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Properties currently has a consensus rating of “Hold” and a consensus target price of $77.67.

Boston Properties Stock Up 1.4%

The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 713.77, a P/E/G ratio of 0.91 and a beta of 1.12. The firm’s 50 day moving average price is $64.70 and its two-hundred day moving average price is $70.29. The company has a debt-to-equity ratio of 2.09, a current ratio of 5.69 and a quick ratio of 5.51.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.01). Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. The company had revenue of $865.22 million for the quarter, compared to analyst estimates of $833.89 million. During the same period in the previous year, the business posted $1.73 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Boston Properties, Inc. will post 6.91 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 5.49%. The ex-dividend date was Monday, March 31st. Boston Properties’s dividend payout ratio (DPR) is presently -19,600.00%.

Institutional Investors Weigh In On Boston Properties

A number of hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in Boston Properties by 632.6% during the first quarter. Jones Financial Companies Lllp now owns 22,615 shares of the real estate investment trust’s stock worth $1,520,000 after purchasing an additional 19,528 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Boston Properties by 9.7% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 36,625 shares of the real estate investment trust’s stock valued at $2,461,000 after buying an additional 3,224 shares during the period. Brooklyn Investment Group lifted its stake in shares of Boston Properties by 124.6% during the first quarter. Brooklyn Investment Group now owns 1,927 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 1,069 shares in the last quarter. Nuveen LLC acquired a new position in shares of Boston Properties during the first quarter worth about $14,737,000. Finally, Tredje AP fonden lifted its holdings in Boston Properties by 801.4% in the 1st quarter. Tredje AP fonden now owns 107,921 shares of the real estate investment trust’s stock worth $7,251,000 after buying an additional 95,948 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

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.