Teachers Retirement System of The State of Kentucky Lowers Holdings in Boston Properties, Inc. (NYSE:BXP)

Teachers Retirement System of The State of Kentucky trimmed its stake in Boston Properties, Inc. (NYSE:BXP) by 8.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,774 shares of the real estate investment trust’s stock after selling 989 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Boston Properties were worth $866,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Toronto Dominion Bank boosted its stake in Boston Properties by 15.7% in the 3rd quarter. Toronto Dominion Bank now owns 49,293 shares of the real estate investment trust’s stock worth $3,966,000 after purchasing an additional 6,687 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Boston Properties in the third quarter worth approximately $58,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Boston Properties by 5,025.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 615 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 603 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in Boston Properties by 9.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,575 shares of the real estate investment trust’s stock worth $690,000 after acquiring an additional 763 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Boston Properties by 12.0% in the 3rd quarter. Van ECK Associates Corp now owns 69,275 shares of the real estate investment trust’s stock worth $6,024,000 after purchasing an additional 7,447 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BXP has been the subject of several research analyst reports. Barclays lifted their price objective on Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Scotiabank reissued a “sector perform” rating and issued a $85.00 price objective on shares of Boston Properties in a report on Thursday, November 7th. Evercore ISI increased their price target on shares of Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Truist Financial boosted their price objective on shares of Boston Properties from $77.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their target price on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $81.38.

Boston Properties Price Performance

NYSE:BXP opened at $74.23 on Thursday. The business’s 50-day simple moving average is $82.23 and its two-hundred day simple moving average is $74.20. Boston Properties, Inc. has a 52 week low of $56.46 and a 52 week high of $90.11. The stock has a market cap of $11.74 billion, a PE ratio of 32.13, a P/E/G ratio of 0.55 and a beta of 1.17. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01.

Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.28). Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The business had revenue of $859.23 million for the quarter, compared to the consensus estimate of $829.91 million. During the same period last year, the business posted $1.86 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts forecast that Boston Properties, Inc. will post 7.1 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 5.28%. Boston Properties’s payout ratio is 169.70%.

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.