Boston Properties, Inc. (NYSE:BXP) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 7.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,765 shares of the real estate investment trust’s stock after selling 379 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Boston Properties were worth $311,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ieq Capital LLC grew its stake in shares of Boston Properties by 1.5% in the fourth quarter. Ieq Capital LLC now owns 11,184 shares of the real estate investment trust’s stock valued at $785,000 after buying an additional 164 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Boston Properties by 2.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 6,620 shares of the real estate investment trust’s stock worth $432,000 after acquiring an additional 182 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Boston Properties by 6.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,348 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 199 shares in the last quarter. Carson Advisory Inc. grew its position in shares of Boston Properties by 4.3% in the 4th quarter. Carson Advisory Inc. now owns 4,853 shares of the real estate investment trust’s stock worth $341,000 after acquiring an additional 202 shares in the last quarter. Finally, Cambridge Trust Co. grew its position in shares of Boston Properties by 80.1% in the 4th 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 in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Boston Properties Price Performance

Shares of BXP traded up $0.26 during midday trading on Monday, reaching $70.76. The stock had a trading volume of 345,416 shares, compared to its average volume of 1,314,234. Boston Properties, Inc. has a 52 week low of $50.64 and a 52 week high of $73.97. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.77 and a quick ratio of 4.77. The firm’s 50 day moving average price is $62.40 and its 200-day moving average price is $63.53. The company has a market capitalization of $11.11 billion, a P/E ratio of 57.79, a P/E/G ratio of 0.46 and a beta of 1.18.

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

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend is Friday, June 28th. Boston Properties’s payout ratio is 321.31%.

Analysts Set New Price Targets

Several analysts recently issued reports on BXP shares. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price target on shares of Boston Properties in a report on Thursday, June 20th. BMO Capital Markets cut their target price on Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a research note on Monday, April 8th. Wedbush cut their target price on Boston Properties from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Barclays cut their target price on Boston Properties from $66.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. Finally, Truist Financial cut their target price on Boston Properties from $75.00 to $67.00 and set a “hold” rating on the stock in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.