Hurley Capital LLC Makes New Investment in Boston Properties, Inc. (NYSE:BXP)

Hurley Capital LLC acquired a new stake in shares of Boston Properties, Inc. (NYSE:BXP) during the 4th quarter, Holdings Channel reports. The fund acquired 1,250 shares of the real estate investment trust’s stock, valued at approximately $94,000.

A number of other large investors also recently modified their holdings of the company. Brooklyn Investment Group boosted its stake in shares of Boston Properties by 19.8% in the fourth quarter. Brooklyn Investment Group now owns 858 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 142 shares during the period. Huntington National Bank lifted its holdings in shares of Boston Properties by 29.8% in the fourth quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust’s stock worth $85,000 after buying an additional 263 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Boston Properties by 18.4% during the fourth quarter. Sound Income Strategies LLC now owns 3,800 shares of the real estate investment trust’s stock worth $283,000 after acquiring an additional 590 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in Boston Properties by 25.8% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,414 shares of the real estate investment trust’s stock valued at $403,000 after acquiring an additional 1,112 shares in the last quarter. Finally, E. Ohman J or Asset Management AB increased its holdings in Boston Properties by 32.0% in the 4th quarter. E. Ohman J or Asset Management AB now owns 6,600 shares of the real estate investment trust’s stock valued at $491,000 after acquiring an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Activity

In other Boston Properties news, EVP Hilary J. Spann sold 12,379 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $72.02, for a total value of $891,535.58. Following the sale, the executive vice president now directly owns 7,271 shares in the company, valued at $523,657.42. This trade represents a 63.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donna D. Garesche sold 2,143 shares of Boston Properties stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $67.87, for a total transaction of $145,445.41. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

Boston Properties Price Performance

Shares of BXP stock opened at $60.36 on Friday. The firm’s 50-day moving average is $69.17 and its two-hundred day moving average is $75.82. The company has a market capitalization of $9.55 billion, a PE ratio of 603.67, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a current ratio of 5.69 and a quick ratio of 5.51. Boston Properties, Inc. has a 12 month low of $56.46 and a 12 month high of $90.11.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $1.28. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. Analysts predict that Boston Properties, Inc. will post 6.91 earnings per share for the current year.

Boston Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 6.49%. The ex-dividend date of this dividend is Monday, March 31st. Boston Properties’s payout ratio is 3,920.00%.

Analysts Set New Price Targets

A number of analysts have issued reports on BXP shares. Piper Sandler reduced their price objective on Boston Properties from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Jefferies Financial Group assumed coverage on Boston Properties in a research report on Monday, March 17th. They issued a “buy” rating and a $78.00 price target for the company. Mizuho cut their price target on shares of Boston Properties from $92.00 to $86.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Wedbush downgraded Boston Properties from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company cut their price objective on shares of Boston Properties from $88.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Boston Properties presently has a consensus rating of “Hold” and a consensus target price of $80.85.

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.