FineMark National Bank & Trust Invests $214,000 in Boston Properties, Inc. (NYSE:BXP)

FineMark National Bank & Trust acquired a new position in Boston Properties, Inc. (NYSE:BXP) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,056 shares of the real estate investment trust’s stock, valued at approximately $214,000.

Several other hedge funds also recently made changes to their positions in BXP. Norges Bank acquired a new position in shares of Boston Properties in the 4th quarter worth approximately $890,848,000. Ameriprise Financial Inc. boosted its holdings in shares of 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 worth $112,977,000 after buying an additional 906,069 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Boston Properties in the third quarter worth about $43,709,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 worth $118,143,000 after buying an additional 429,587 shares during the period. Finally, Earnest Partners LLC boosted its holdings in shares of 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 worth $81,439,000 after buying an additional 417,944 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on BXP shares. Barclays decreased their target price on shares of Boston Properties from $66.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday. Wedbush decreased their target price on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Boston Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 target price for the company. Truist Financial decreased their price target on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, March 5th. Finally, Evercore ISI dropped their price objective on shares of Boston Properties from $73.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. 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 company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $69.47.

Insiders Place Their Bets

In other news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. Company insiders own 1.35% of the company’s stock.

Boston Properties Stock Down 0.8 %

Boston Properties stock opened at $59.31 on Friday. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 1.91. Boston Properties, Inc. has a 1-year low of $46.80 and a 1-year high of $73.97. The firm’s fifty day simple moving average is $61.98 and its 200-day simple moving average is $63.85. The company has a market capitalization of $9.32 billion, a P/E ratio of 48.61, a P/E/G ratio of 0.41 and a beta of 1.15.

Boston Properties (NYSE:BXP) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.22). The company had revenue of $839.44 million for the quarter, compared to the consensus estimate of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. Boston Properties’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $1.73 earnings per share. Sell-side analysts forecast that Boston Properties, Inc. will post 7.05 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.92 annualized dividend and a yield of 6.61%. Boston Properties’s dividend payout ratio (DPR) is currently 321.31%.

Boston Properties 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.