State of Alaska Department of Revenue trimmed its holdings in Boston Properties, Inc. (NYSE:BXP – Get Rating) by 7.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,585 shares of the real estate investment trust’s stock after selling 8,695 shares during the quarter. State of Alaska Department of Revenue’s holdings in Boston Properties were worth $9,572,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Boston Properties by 1.8% in the first quarter. Vanguard Group Inc. now owns 23,383,095 shares of the real estate investment trust’s stock valued at $3,011,742,000 after acquiring an additional 404,123 shares during the period. BlackRock Inc. lifted its position in Boston Properties by 6.9% in the fourth quarter. BlackRock Inc. now owns 17,343,626 shares of the real estate investment trust’s stock worth $1,997,639,000 after purchasing an additional 1,119,895 shares during the period. Norges Bank bought a new position in Boston Properties in the fourth quarter worth $1,501,665,000. State Street Corp lifted its position in Boston Properties by 6.1% in the first quarter. State Street Corp now owns 11,026,679 shares of the real estate investment trust’s stock worth $1,430,779,000 after purchasing an additional 638,452 shares during the period. Finally, Capital World Investors lifted its position in Boston Properties by 3.5% in the first quarter. Capital World Investors now owns 7,676,647 shares of the real estate investment trust’s stock worth $988,752,000 after purchasing an additional 260,955 shares during the period. 92.47% of the stock is owned by institutional investors.
Boston Properties Stock Performance
Shares of NYSE:BXP opened at $83.43 on Monday. Boston Properties, Inc. has a twelve month low of $78.02 and a twelve month high of $133.11. The firm has a market cap of $13.08 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 1.93 and a beta of 1.14. The company has a debt-to-equity ratio of 1.71, a quick ratio of 4.35 and a current ratio of 4.35. The business has a fifty day moving average of $86.00 and a 200-day moving average of $103.56.
Boston Properties Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.70%. Boston Properties’s dividend payout ratio (DPR) is presently 93.33%.
Analysts Set New Price Targets
Several research analysts recently commented on BXP shares. Truist Financial reduced their target price on Boston Properties from $105.00 to $102.00 and set a “hold” rating for the company in a research report on Wednesday, September 14th. The Goldman Sachs Group reduced their target price on Boston Properties from $120.00 to $112.00 and set a “sell” rating for the company in a research report on Wednesday, May 25th. Wells Fargo & Company reduced their target price on Boston Properties from $105.00 to $94.00 and set an “overweight” rating for the company in a research report on Tuesday, August 30th. Sumitomo Mitsui Financial Group cut Boston Properties from an “outperform” rating to a “neutral” rating and set a $93.00 target price for the company. in a research report on Thursday, August 4th. Finally, Credit Suisse Group initiated coverage on Boston Properties in a research note on Wednesday, June 22nd. They set an “outperform” rating and a $108.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Boston Properties currently has an average rating of “Hold” and a consensus price target of $101.00.
In other news, EVP Raymond A. Ritchey sold 22,472 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $89.96, for a total value of $2,021,581.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is currently owned by corporate insiders.
Boston Properties Company Profile
Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in 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), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.
- Get a free copy of the StockNews.com research report on Boston Properties (BXP)
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