Boston Properties, Inc. (NYSE:BXP) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its holdings in Boston Properties, Inc. (NYSE:BXP) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,420 shares of the real estate investment trust’s stock after selling 196 shares during the period. Mackenzie Financial Corp’s holdings in Boston Properties were worth $450,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Boston Properties during the 4th quarter worth $15,810,000. Dark Forest Capital Management LP purchased a new stake in shares of Boston Properties in the third quarter worth about $904,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Boston Properties by 12.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 221,845 shares of the real estate investment trust’s stock valued at $13,195,000 after buying an additional 23,795 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Boston Properties by 345.4% during the 4th quarter. Whittier Trust Co. now owns 176,741 shares of the real estate investment trust’s stock valued at $12,401,000 after buying an additional 137,058 shares during the period. Finally, abrdn plc lifted its position in Boston Properties by 8.2% during the 3rd quarter. abrdn plc now owns 684,970 shares of the real estate investment trust’s stock worth $40,742,000 after acquiring an additional 51,926 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com raised shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Barclays cut their price objective on shares of Boston Properties from $67.00 to $66.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 27th. BMO Capital Markets lowered their target price on Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. Jefferies Financial Group raised Boston Properties from a “hold” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $80.00 in a research report on Tuesday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Boston Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 price target for the company. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $69.44.

Boston Properties Stock Performance

Boston Properties stock opened at $61.50 on Friday. The company has a debt-to-equity ratio of 1.99, a current ratio of 5.40 and a quick ratio of 5.40. Boston Properties, Inc. has a 12 month low of $46.80 and a 12 month high of $73.97. The company has a fifty day moving average price of $63.12 and a two-hundred day moving average price of $62.87. The company has a market cap of $9.66 billion, a PE ratio of 50.83 and a beta of 1.15.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.81 by ($1.05). The business had revenue of $828.90 million during the quarter, compared to analyst estimates of $811.59 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $1.86 earnings per share. Research analysts expect that Boston Properties, Inc. will post 7.12 earnings per share for the current year.

Boston Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date is Wednesday, March 27th. Boston Properties’s payout ratio is 323.97%.

Insider Buying and Selling

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

About Boston Properties

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.