Spire Wealth Management increases its holdings in Boston Properties, Inc. (NYSE:BXP)


Spire Wealth Management added to its position in shares of Boston Properties, Inc. (NYSE: BXPGet a rating) by 45.7% in the 1st quarter, according to its most recent communication to the Securities & Exchange Commission. The company held 749 shares of the real estate investment trust after purchasing an additional 235 shares during the quarter. Spire Wealth Management’s holdings in Boston Properties were worth $97,000 when it last filed with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Verdence Capital Advisors LLC increased its stake in Boston Properties by 3.3% during the fourth quarter. Verdence Capital Advisors LLC now owns 2,779 shares of the real estate investment trust worth $320,000 after purchasing 89 additional shares during the period. Louisiana State Employees Retirement System increased its stake in Boston Properties by 1.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the REIT worth $1,025,000 after purchasing 100 additional shares during the period. State of Michigan Retirement System increased its stake in Boston Properties by 0.3% during the fourth quarter. State of Michigan Retirement System now owns 35,751 shares of the real estate investment trust worth $4,118,000 after purchasing 100 additional shares during the period. Eagle Bay Advisors LLC increased its stake in Boston Properties shares by 25.1% during the fourth quarter. Eagle Bay Advisors LLC now owns 513 shares of the real estate investment trust worth $59,000 after purchasing an additional 103 shares during the period. Finally, Midwest Professional Planners LTD. increased its stake in Boston Properties shares by 5.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 2,147 shares of the real estate investment trust worth $247,000 after purchasing an additional 114 shares during the period. 98.02% of the shares are held by institutional investors.

Several research firms have recently weighed in on BXP. Morgan Stanley cut its price target on Boston Properties from $111.00 to $104.00 and set an “equal weight” rating for the company in a Wednesday, June 1 report. StockNews.com began covering Boston Properties in a report on Thursday, March 31. They issued a “holding” rating for the company. Jefferies Financial Group lowered its price target on Boston Properties from $112.00 to $88.00 and set a “holding” rating for the company in a Thursday, June 30 report. Goldman Sachs Group cut its price target on Boston Properties from $120.00 to $112.00 and set a “sell” rating for the company in a Wednesday, May 25 report. Finally, Truist Financial cut its price target on Boston properties from $130.00 to $105.00 and set a “holding” rating for the company in a Thursday, June 30 report. One financial analyst has assigned the stock a sell rating, four have assigned a hold rating and ten have assigned the stock a buy rating. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $117.38.

BXP opened at $90.03 on Thursday. The company’s 50-day moving average price is $103.51 and its 200-day moving average price is $115.16. The company has a market capitalization of $14.11 billion, a P/E ratio of 25.80, a price-to-earnings growth ratio of 2.11 and a beta of 1.15. Boston Properties, Inc. has a 52-week low of $87.61 and a 52-week high of $133.11. The company has a quick ratio of 4.73, a current ratio of 4.73 and a leverage ratio of 1.65.

Boston Properties (NYSE: BXPGet a rating) last released its results on Monday, May 2. The real estate investment trust reported EPS of $0.91 for the quarter, beating consensus analyst estimates of $0.67 from $0.24. Boston Properties had a return on equity of 6.80% and a net margin of 18.69%. During the same period last year, the company achieved EPS of $1.56. On average, research analysts expect Boston Properties, Inc. to post EPS of 7.48 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 29. Investors of record on Thursday, June 30 will receive a dividend of $0.98. The ex-dividend date is Wednesday, June 29. This represents a dividend of $3.92 on an annualized basis and a yield of 4.35%. Boston Properties’ dividend payout ratio is currently 112.32%.

Boston Properties Company Profile (Get a rating)

Boston Properties (NYSE: BXP) is the largest public developer and owner of Class A office properties in the United States, focused on five markets: Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), which develops, manages, operates, acquires and owns a diversified portfolio of primarily Class A office space.

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Institutional Ownership by Quarter for Boston Properties (NYSE:BXP)



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