Boston Properties, Inc. (NYSE:BXP) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its stake in shares of Boston Properties, Inc. (NYSE:BXP) by 4.1% during the first quarter, Holdings Channel reports. The firm owned 157,304 shares of the real estate investment trust’s stock after selling 6,680 shares during the period. Illinois Municipal Retirement Fund’s holdings in Boston Properties were worth $10,274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its position in shares of Boston Properties by 435.9% during the fourth quarter. Manchester Capital Management LLC now owns 418 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 340 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Boston Properties during the fourth quarter worth approximately $29,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Boston Properties during the fourth quarter worth approximately $34,000. Sound Income Strategies LLC grew its position in shares of Boston Properties by 770.9% during the fourth quarter. Sound Income Strategies LLC now owns 479 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 424 shares during the last quarter. Finally, Cambridge Trust Co. grew its position in shares of Boston Properties by 80.1% during the fourth quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Boston Properties Trading Up 3.9 %

BXP traded up $2.53 during midday trading on Friday, hitting $67.76. The company’s stock had a trading volume of 1,768,932 shares, compared to its average volume of 1,075,725. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 1.91. The firm has a market cap of $10.64 billion, a P/E ratio of 55.54, a PEG ratio of 0.44 and a beta of 1.18. The firm has a 50-day moving average price of $61.22 and a two-hundred day moving average price of $63.76. Boston Properties, Inc. has a 52-week low of $50.64 and a 52-week high of $73.97.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.22). The business had revenue of $839.44 million during the quarter, compared to analysts’ expectations of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 EPS. On average, research analysts anticipate that Boston Properties, Inc. will post 7.04 earnings per share for the current year.

Boston Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 5.79%. The ex-dividend date of this dividend is Friday, June 28th. Boston Properties’s dividend payout ratio (DPR) is 321.31%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BXP. BMO Capital Markets lowered their target price on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. Wedbush lowered their price objective on shares of Boston Properties from $66.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Truist Financial lowered their price objective on shares of Boston Properties from $75.00 to $67.00 and set a “hold” rating on the stock in a research report on Friday, June 14th. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price objective on shares of Boston Properties in a research report on Thursday, June 20th. Finally, StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Boston Properties currently has an average rating of “Hold” and a consensus price target of $69.60.

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.