Harvest Fund Management Co. Ltd Acquires 603 Shares of Boston Properties, Inc. (NYSE:BXP)

Harvest Fund Management Co. Ltd raised its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 5,025.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 615 shares of the real estate investment trust’s stock after acquiring an additional 603 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Boston Properties were worth $49,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Earnest Partners LLC grew its position in shares of Boston Properties by 25.9% during the second quarter. Earnest Partners LLC now owns 2,637,235 shares of the real estate investment trust’s stock valued at $162,348,000 after purchasing an additional 542,610 shares in the last quarter. Sei Investments Co. grew its position in shares of Boston Properties by 32.9% during the second quarter. Sei Investments Co. now owns 1,503,687 shares of the real estate investment trust’s stock valued at $92,567,000 after purchasing an additional 371,946 shares in the last quarter. Swedbank AB purchased a new position in shares of Boston Properties during the first quarter valued at about $16,729,000. Point72 Asset Management L.P. purchased a new position in shares of Boston Properties during the second quarter valued at about $12,914,000. Finally, AMF Tjanstepension AB purchased a new position in shares of Boston Properties during the second quarter valued at about $8,941,000. 98.72% of the stock is owned by institutional investors.

Boston Properties Stock Down 0.4 %

Shares of NYSE:BXP opened at $82.85 on Thursday. Boston Properties, Inc. has a 1 year low of $52.69 and a 1 year high of $90.11. The business has a 50 day simple moving average of $82.42 and a two-hundred day simple moving average of $72.19. The firm has a market capitalization of $13.10 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 0.56 and a beta of 1.18. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 and a quick ratio of 5.51.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.28). Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The company had revenue of $859.23 million for the quarter, compared to the consensus estimate of $829.91 million. During the same period in the prior year, the firm posted $1.86 EPS. The business’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts predict that Boston Properties, Inc. will post 7.1 EPS for the current year.

Boston Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.98 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.92 annualized dividend and a yield of 4.73%. Boston Properties’s dividend payout ratio (DPR) is currently 169.70%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BXP. Scotiabank restated a “sector perform” rating and set a $85.00 price objective on shares of Boston Properties in a research report on Thursday, November 7th. Piper Sandler upgraded Boston Properties from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Barclays lifted their price target on Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Wells Fargo & Company lifted their price target on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Finally, StockNews.com lowered Boston Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $80.92.

Insider Buying and Selling

In related news, EVP Raymond A. Ritchey sold 21,835 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.35% of the stock is owned by insiders.

Boston Properties 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.