Turtle Creek Wealth Advisors LLC Acquires Shares of 478 Boston Properties, Inc. (NYSE:BXP)

Turtle Creek Wealth Advisors LLC purchased a new position in Boston Properties, Inc. (NYSE:BXP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 478 shares of the real estate investment trust’s stock, valued at approximately $34,000.

A number of other large investors have also recently made changes to their positions in BXP. Raymond James Financial Services Advisors Inc. grew its stake in shares of Boston Properties by 17.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,714 shares of the real estate investment trust’s stock worth $350,000 after acquiring an additional 396 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Boston Properties in the first quarter worth approximately $214,000. Private Advisor Group LLC bought a new stake in shares of Boston Properties in the first quarter worth approximately $403,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Boston Properties by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,020 shares of the real estate investment trust’s stock worth $2,450,000 after acquiring an additional 1,178 shares during the period. Finally, APG Asset Management N.V. grew its stake in shares of Boston Properties by 38.8% in the first quarter. APG Asset Management N.V. now owns 11,448 shares of the real estate investment trust’s stock worth $1,325,000 after acquiring an additional 3,200 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Raymond A. Ritchey sold 14,150 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total value of $889,186.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Truist Financial reduced their price target on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Boston Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 price objective on the stock. StockNews.com raised shares of Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Piper Sandler raised their price objective on shares of Boston Properties from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, December 20th. Finally, Barclays dropped 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. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $69.44.

Boston Properties Trading Down 2.3 %

Boston Properties stock opened at $60.61 on Friday. The stock has a market cap of $9.52 billion, a P/E ratio of 50.09 and a beta of 1.15. 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 1 year low of $46.80 and a 1 year high of $73.97. The firm’s 50 day moving average price is $63.92 and its 200-day moving average price is $62.60.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.05). The company had revenue of $828.90 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $1.86 EPS. On average, equities analysts predict that Boston Properties, Inc. will post 7.12 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 6.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Boston Properties’s dividend payout ratio is presently 323.97%.

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.