Abundance Wealth Counselors Acquires 1,379 Shares of Boston Properties, Inc. (NYSE:BXP)

Abundance Wealth Counselors boosted its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 31.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,772 shares of the real estate investment trust’s stock after buying an additional 1,379 shares during the period. Abundance Wealth Counselors’ holdings in Boston Properties were worth $377,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in Boston Properties during the fourth quarter valued at $15,810,000. Cambridge Investment Research Advisors Inc. lifted its stake in Boston Properties by 387.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,825 shares of the real estate investment trust’s stock worth $4,900,000 after purchasing an additional 55,501 shares during the last quarter. abrdn plc lifted its stake in Boston Properties by 4.2% during the fourth quarter. abrdn plc now owns 713,840 shares of the real estate investment trust’s stock worth $50,090,000 after purchasing an additional 28,870 shares during the last quarter. National Bank of Canada FI lifted its stake in Boston Properties by 50.5% during the fourth quarter. National Bank of Canada FI now owns 46,377 shares of the real estate investment trust’s stock worth $3,343,000 after purchasing an additional 15,570 shares during the last quarter. Finally, Perpetual Ltd bought a new stake in Boston Properties during the first quarter worth about $1,205,000. Institutional investors own 98.72% of the company’s stock.

Boston Properties Stock Down 0.2 %

Shares of NYSE:BXP opened at $61.43 on Thursday. Boston Properties, Inc. has a 1 year low of $50.64 and a 1 year high of $73.97. The company has a market cap of $9.65 billion, a PE ratio of 50.35, a P/E/G ratio of 0.40 and a beta of 1.18. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.77 and a quick ratio of 4.77. The stock’s 50-day moving average is $61.05 and its 200 day moving average is $64.19.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.22). Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The business had revenue of $839.44 million for the quarter, compared to analysts’ expectations of $808.68 million. During the same quarter in the prior year, the firm earned $1.73 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that Boston Properties, Inc. will post 7.04 EPS for the current year.

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.38%. Boston Properties’s dividend payout ratio (DPR) is 321.31%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Evercore ISI dropped their price target on Boston Properties from $73.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price target on shares of Boston Properties in a research note on Thursday, June 20th. Truist Financial decreased their price objective on Boston Properties from $75.00 to $67.00 and set a “hold” rating on the stock in a report on Friday, June 14th. BMO Capital Markets decreased their price objective on Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a report on Monday, April 8th. Finally, Wedbush decreased their price objective on Boston Properties from $66.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Two equities 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $69.60.

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.