Public Employees Retirement Association of Colorado Sells 822 Shares of Boston Properties, Inc. (NYSE:BXP)

Public Employees Retirement Association of Colorado cut its holdings in Boston Properties, Inc. (NYSE:BXP) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,728 shares of the real estate investment trust’s stock after selling 822 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Boston Properties were worth $907,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Boston Properties by 0.5% in the first quarter. Vanguard Group Inc. now owns 23,568,962 shares of the real estate investment trust’s stock worth $1,539,289,000 after purchasing an additional 122,583 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Boston Properties by 3.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,502,079 shares of the real estate investment trust’s stock valued at $294,031,000 after acquiring an additional 166,105 shares during the period. Earnest Partners LLC increased its position in shares of Boston Properties by 29.8% in the first quarter. Earnest Partners LLC now owns 2,094,625 shares of the real estate investment trust’s stock valued at $136,800,000 after acquiring an additional 480,961 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Boston Properties by 11.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,036,968 shares of the real estate investment trust’s stock valued at $142,934,000 after acquiring an additional 209,141 shares during the period. Finally, Centersquare Investment Management LLC increased its position in shares of Boston Properties by 30.9% in the fourth quarter. Centersquare Investment Management LLC now owns 1,986,707 shares of the real estate investment trust’s stock valued at $139,407,000 after acquiring an additional 468,950 shares during the period. 98.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on BXP. Truist Financial boosted their price objective on shares of Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Scotiabank boosted their price objective on shares of Boston Properties from $76.00 to $82.00 and gave the company a “sector outperform” rating in a research report on Wednesday, September 11th. Wedbush boosted their price objective on shares of Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Piper Sandler boosted their price target on shares of Boston Properties from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $74.08.

Insider Transactions at Boston Properties

In other news, EVP Peter V. Otteni sold 4,785 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $74.25, for a total value of $1,621,248.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $73.44, for a total transaction of $351,410.40. 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 opened at $82.49 on Wednesday. The stock has a market cap of $12.96 billion, a PE ratio of 67.61, a price-to-earnings-growth ratio of 0.35 and a beta of 1.18. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83. Boston Properties, Inc. has a fifty-two week low of $50.64 and a fifty-two week high of $83.85. The firm’s 50-day simple moving average is $72.74 and its two-hundred day simple moving average is $65.65.

Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The business had revenue of $850.48 million during the quarter, compared to analysts’ expectations of $819.49 million. Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. Boston Properties’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.86 EPS. Analysts anticipate that Boston Properties, Inc. will post 7.11 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.92 annualized dividend and a dividend yield of 4.75%. Boston Properties’s dividend payout ratio is presently 321.31%.

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.