Short Interest in Boston Properties, Inc. (NYSE:BXP) Drops By 6.2%

Boston Properties, Inc. (NYSE:BXP) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 6,940,000 shares, a decline of 6.2% from the July 15th total of 7,400,000 shares. Based on an average daily volume of 1,250,000 shares, the days-to-cover ratio is presently 5.6 days.

Analysts Set New Price Targets

Several research firms have recently commented on BXP. Wedbush raised their price target on Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Evercore ISI cut their price target 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. Truist Financial lowered their price objective on shares of Boston Properties from $75.00 to $67.00 and set a “hold” rating for the company in a research note on Friday, June 14th. Barclays cut their target price on shares of Boston Properties from $66.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. Finally, StockNews.com raised shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $70.54.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in shares of Boston Properties during the first quarter worth approximately $1,187,000. abrdn plc grew its position in Boston Properties by 4.2% during the 4th 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. Cambridge Investment Research Advisors Inc. increased its stake in Boston Properties by 387.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,825 shares of the real estate investment trust’s stock valued at $4,900,000 after purchasing an additional 55,501 shares during the period. National Bank of Canada FI increased its stake in Boston Properties by 50.5% in the fourth quarter. National Bank of Canada FI now owns 46,377 shares of the real estate investment trust’s stock valued at $3,343,000 after purchasing an additional 15,570 shares during the period. Finally, Perpetual Ltd purchased a new stake in shares of Boston Properties in the first quarter valued at about $1,205,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Boston Properties Stock Down 1.6 %

Shares of NYSE BXP opened at $70.17 on Wednesday. The business has a 50-day moving average of $65.63 and a two-hundred day moving average of $63.56. The company has a market capitalization of $11.02 billion, a price-to-earnings ratio of 57.52, a price-to-earnings-growth ratio of 0.46 and a beta of 1.18. Boston Properties has a 1 year low of $50.64 and a 1 year high of $73.97. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.77.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The business had revenue of $850.48 million during the quarter, compared to analyst estimates of $819.49 million. Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $1.86 earnings per share. On average, analysts forecast that Boston Properties will post 7.12 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend was Friday, June 28th. Boston Properties’s payout ratio 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.