Harvest Fund Management Co. Ltd Boosts Stake in Boston Properties, Inc. (NYSE:BXP)

Harvest Fund Management Co. Ltd boosted its stake in shares of Boston Properties, Inc. (NYSE:BXP) by 5,025.0% in the third quarter, Holdings Channel reports. The institutional investor owned 615 shares of the real estate investment trust’s stock after acquiring an additional 603 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Boston Properties were worth $49,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in Boston Properties by 76.8% during the second quarter. SG Americas Securities LLC now owns 110,242 shares of the real estate investment trust’s stock worth $6,786,000 after buying an additional 47,882 shares during the period. DNB Asset Management AS lifted its holdings in shares of Boston Properties by 47.3% during the 2nd quarter. DNB Asset Management AS now owns 34,755 shares of the real estate investment trust’s stock valued at $2,140,000 after purchasing an additional 11,163 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Boston Properties by 112.1% during the 1st quarter. Cetera Investment Advisers now owns 38,725 shares of the real estate investment trust’s stock valued at $2,529,000 after purchasing an additional 20,468 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Boston Properties by 61.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,578 shares of the real estate investment trust’s stock valued at $1,759,000 after purchasing an additional 10,928 shares during the last quarter. Finally, AMF Tjanstepension AB purchased a new stake in shares of Boston Properties during the 2nd quarter valued at $8,941,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $74.25, for a total transaction of $1,621,248.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.35% of the stock is owned by insiders.

Boston Properties Price Performance

Shares of BXP opened at $82.85 on Thursday. The business’s 50-day moving average is $82.42 and its two-hundred day moving average is $72.19. The company has a market capitalization of $13.10 billion, a P/E ratio of 35.87, a P/E/G ratio of 0.56 and a beta of 1.18. The company has a debt-to-equity ratio of 2.01, a quick ratio of 5.51 and a current ratio of 5.51. Boston Properties, Inc. has a fifty-two week low of $52.69 and a fifty-two week high of $90.11.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.28). The company had revenue of $859.23 million for the quarter, compared to analyst estimates of $829.91 million. Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. Boston Properties’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.86 earnings per share. Research analysts predict that Boston Properties, Inc. will post 7.1 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend was Monday, September 30th. Boston Properties’s dividend payout ratio is currently 169.70%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays increased their price objective on Boston Properties from $88.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Piper Sandler upgraded Boston Properties from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $78.00 to $105.00 in a report on Wednesday, October 23rd. Truist Financial increased their price objective on Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Evercore ISI increased their price objective on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Finally, StockNews.com downgraded Boston Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Boston Properties presently has an average rating of “Hold” and an average price target of $80.92.

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.