Cambridge Trust Co. Acquires 250 Shares of Boston Properties, Inc. (NYSE:BXP)

Cambridge Trust Co. boosted its stake in Boston Properties, Inc. (NYSE:BXP) by 80.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 562 shares of the real estate investment trust’s stock after acquiring an additional 250 shares during the period. Cambridge Trust Co.’s holdings in Boston Properties were worth $39,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BXP. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Boston Properties by 4.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 160,690 shares of the real estate investment trust’s stock valued at $11,276,000 after purchasing an additional 6,324 shares in the last quarter. Strs Ohio grew its holdings in shares of Boston Properties by 10.1% during the 4th quarter. Strs Ohio now owns 477,057 shares of the real estate investment trust’s stock worth $33,475,000 after acquiring an additional 43,685 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Boston Properties by 1.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 489,491 shares of the real estate investment trust’s stock worth $34,348,000 after acquiring an additional 7,677 shares in the last quarter. Boothe Investment Group Inc. lifted its stake in shares of Boston Properties by 4.3% in the 4th quarter. Boothe Investment Group Inc. now owns 21,071 shares of the real estate investment trust’s stock valued at $1,479,000 after purchasing an additional 864 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Boston Properties in the 4th quarter valued at approximately $610,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BXP has been the topic of several recent research reports. Truist Financial reduced their price target on Boston Properties from $77.00 to $75.00 and set a “hold” rating on the stock in a research note on Tuesday, March 5th. Jefferies Financial Group raised shares of Boston Properties from a “hold” rating to a “buy” rating and upped their target price for the stock from $57.00 to $80.00 in a research report on Tuesday, January 2nd. BMO Capital Markets lowered their price target on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Boston Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $74.00 target price for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $69.44.

Insider Activity

In related news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total value of $889,186.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.22% of the company’s stock.

Boston Properties Price Performance

NYSE BXP opened at $60.20 on Friday. Boston Properties, Inc. has a one year low of $46.80 and a one year high of $73.97. The stock has a 50-day moving average of $63.41 and a 200 day moving average of $62.60. The company has a debt-to-equity ratio of 1.99, a quick ratio of 5.40 and a current ratio of 5.40. The company has a market capitalization of $9.45 billion, a price-to-earnings ratio of 49.75 and a beta of 1.15.

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

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.98 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.92 dividend on an annualized basis and a yield of 6.51%. Boston Properties’s dividend payout ratio is presently 323.97%.

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.