Los Angeles Capital Management LLC Takes $11.65 Million Position in Boston Properties, Inc. (NYSE:BXP)

Los Angeles Capital Management LLC purchased a new stake in shares of Boston Properties, Inc. (NYSE:BXP) during the 4th quarter, Holdings Channel reports. The fund purchased 166,022 shares of the real estate investment trust’s stock, valued at approximately $11,650,000.

Other hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its stake in Boston Properties by 86.2% in the third quarter. Ameriprise Financial Inc. now owns 1,957,055 shares of the real estate investment trust’s stock valued at $112,977,000 after acquiring an additional 906,069 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Boston Properties in the 3rd quarter worth $43,709,000. Charles Schwab Investment Management Inc. increased its holdings in Boston Properties by 27.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,986,269 shares of the real estate investment trust’s stock valued at $118,143,000 after purchasing an additional 429,587 shares during the last quarter. Earnest Partners LLC lifted its stake in Boston Properties by 43.9% in the third quarter. Earnest Partners LLC now owns 1,369,183 shares of the real estate investment trust’s stock valued at $81,439,000 after buying an additional 417,944 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Boston Properties by 95.2% during the third quarter. Adage Capital Partners GP L.L.C. now owns 660,498 shares of the real estate investment trust’s stock worth $39,286,000 after buying an additional 322,125 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling at Boston Properties

In other news, EVP Raymond A. Ritchey sold 14,150 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total transaction of $889,186.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. StockNews.com cut Boston Properties from a “hold” rating to a “sell” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Boston Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $74.00 target price for the company. Truist Financial reduced their price target on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating on the stock in a research report on Tuesday, March 5th. Wedbush lowered their price objective on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, BMO Capital Markets reduced their target price on Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $69.47.

Boston Properties Stock Up 1.2 %

BXP stock opened at $60.78 on Friday. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.77 and a quick ratio of 5.40. The stock has a market capitalization of $9.55 billion, a P/E ratio of 49.82 and a beta of 1.15. Boston Properties, Inc. has a fifty-two week low of $46.80 and a fifty-two week high of $73.97. The business has a 50-day moving average of $62.62 and a 200-day moving average of $63.04.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.22). Boston Properties had a return on equity of 2.35% and a net margin of 5.81%. The firm had revenue of $839.44 million for the quarter, compared to analyst estimates of $808.68 million. During the same period last year, the company earned $1.73 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Boston Properties, Inc. will post 7.07 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date was Wednesday, March 27th. Boston Properties’s dividend payout ratio (DPR) is currently 321.31%.

Boston Properties Company Profile

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.