New York State Common Retirement Fund Cuts Holdings in Boston Properties, Inc. (NYSE:BXP)

New York State Common Retirement Fund decreased its position in Boston Properties, Inc. (NYSE:BXP) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 130,750 shares of the real estate investment trust’s stock after selling 17,891 shares during the period. New York State Common Retirement Fund owned 0.08% of Boston Properties worth $9,175,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of BXP. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Boston Properties during the fourth quarter valued at approximately $29,000. Sound Income Strategies LLC raised its stake in shares of Boston Properties by 770.9% during the 4th quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 424 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Boston Properties in the 4th quarter worth about $34,000. Cambridge Trust Co. grew its position in Boston Properties by 80.1% during the fourth quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 250 shares during the period. Finally, Sentry Investment Management LLC purchased a new stake in Boston Properties during the third quarter worth about $47,000. Institutional investors own 98.72% of the company’s stock.

Insider Activity at Boston Properties

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total transaction of $889,186.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.35% of the stock is owned by insiders.

Analyst Ratings Changes

BXP has been the topic of a number of research reports. Truist Financial lowered their price target on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating on the stock in a report on Tuesday, March 5th. Barclays dropped their price target on Boston Properties from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 27th. BMO Capital Markets decreased their price objective on Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Boston Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $74.00 price objective on the stock. Finally, StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $69.40.

Boston Properties Price Performance

Boston Properties stock opened at $59.25 on Thursday. The business has a 50-day simple moving average of $62.81 and a 200 day simple moving average of $63.04. Boston Properties, Inc. has a 52 week low of $46.80 and a 52 week high of $73.97. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 48.97 and a beta of 1.15. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 1.99.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.22). Boston Properties had a return on equity of 2.32% and a net margin of 5.81%. The company had revenue of $839.44 million during the quarter, compared to the consensus estimate of $808.68 million. During the same quarter last year, the company posted $1.73 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts forecast that Boston Properties, Inc. will post 7.12 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.92 annualized dividend and a yield of 6.62%. Boston Properties’s dividend payout ratio (DPR) 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.