Boston Properties (NYSE:BXP) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Boston Properties, Inc. (NYSE:BXP) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $74.74 and traded as high as $76.88. Boston Properties shares last traded at $76.23, with a volume of 677,552 shares.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BXP. Wells Fargo & Company upped their price target on shares of Boston Properties from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and upped their target price for the company from $78.00 to $105.00 in a research note on Wednesday, October 23rd. StockNews.com downgraded Boston Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Compass Point raised Boston Properties from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $88.00 in a report on Thursday, November 14th. Finally, UBS Group increased their price objective on Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $81.38.

Boston Properties Trading Down 2.1 %

The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 2.01. The stock has a market capitalization of $11.80 billion, a price-to-earnings ratio of 32.30, a price-to-earnings-growth ratio of 0.55 and a beta of 1.17. The business has a 50 day simple moving average of $80.73 and a 200-day simple moving average of $74.85.

Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.28). Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The company had revenue of $859.23 million during the quarter, compared to analyst estimates of $829.91 million. During the same period in the prior year, the business posted $1.86 earnings per share. Boston Properties’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 earnings per share for the current year.

Boston Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.25%. Boston Properties’s payout ratio is 169.70%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. increased its stake in Boston Properties by 212.1% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 568 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 386 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Boston Properties by 5,025.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 603 shares during the period. UMB Bank n.a. increased its position in Boston Properties by 115.5% during the 2nd quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 380 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Boston Properties during the 3rd quarter worth approximately $58,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Boston Properties by 61.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,438 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 547 shares during the period. Institutional investors and hedge funds own 98.72% 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.