Contravisory Investment Management Inc. Raises Holdings in Boston Properties, Inc. (NYSE:BXP)

Contravisory Investment Management Inc. lifted its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 198.4% in the first quarter, HoldingsChannel reports. The firm owned 11,668 shares of the real estate investment trust’s stock after acquiring an additional 7,758 shares during the period. Contravisory Investment Management Inc.’s holdings in Boston Properties were worth $762,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BXP. McGlone Suttner Wealth Management Inc. acquired a new position in Boston Properties in the 4th quarter worth $29,000. Manchester Capital Management LLC lifted its holdings in Boston Properties by 435.9% in the 4th quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 340 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in Boston Properties by 770.9% in the 4th quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 424 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Boston Properties in the 4th quarter worth $34,000. Finally, Cambridge Trust Co. lifted its holdings in Boston Properties by 80.1% in the 4th quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 250 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BXP shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price objective on shares of Boston Properties in a research report on Thursday. 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 report on Friday, June 14th. Wedbush lowered their price objective on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. BMO Capital Markets reduced their target price on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. Finally, StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $69.60.

Boston Properties Price Performance

Shares of NYSE:BXP traded up $0.09 during trading on Friday, reaching $61.50. The company had a trading volume of 1,563,801 shares, compared to its average volume of 1,171,679. The firm’s fifty day moving average is $60.80 and its 200 day moving average is $64.45. The firm has a market capitalization of $9.66 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 0.43 and a beta of 1.15. Boston Properties, Inc. has a twelve month low of $50.64 and a twelve month high of $73.97. The company has a debt-to-equity ratio of 1.91, a quick ratio of 4.77 and a current ratio of 4.77.

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

Boston Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 6.37%. The ex-dividend date of this dividend is Friday, June 28th. Boston Properties’s dividend payout ratio is presently 321.31%.

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.