State of Tennessee Treasury Department Lowers Stock Position in Boston Properties, Inc. (NYSE:BXP)

State of Tennessee Treasury Department cut its position in shares of Boston Properties, Inc. (NYSE:BXPFree Report) by 15.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 403,716 shares of the real estate investment trust’s stock after selling 75,020 shares during the period. State of Tennessee Treasury Department owned 0.26% of Boston Properties worth $28,329,000 as of its most recent filing with the SEC.

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

Boston Properties Trading Down 0.4 %

Shares of BXP stock opened at $59.03 on Tuesday. 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 has a market cap of $9.27 billion, a PE ratio of 48.39, a price-to-earnings-growth ratio of 0.41 and a beta of 1.15. The company has a 50-day moving average of $61.01 and a two-hundred day moving average of $64.31. Boston Properties, Inc. has a 1-year low of $50.64 and a 1-year high of $73.97.

Boston Properties (NYSE:BXPGet Free Report) last announced its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.22). The company had revenue of $839.44 million for the quarter, compared to analysts’ expectations of $808.68 million. Boston Properties had a return on equity of 2.35% and a net margin of 5.81%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $1.73 EPS. On average, analysts predict that Boston Properties, Inc. will post 7.05 EPS for the current year.

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend was Wednesday, March 27th. Boston Properties’s dividend payout ratio (DPR) is presently 321.31%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BXP shares. BMO Capital Markets decreased their price objective on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a report on Monday, April 8th. Truist Financial reduced their target price on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a research report on Tuesday, March 5th. Evercore ISI reduced their target price on shares of Boston Properties from $73.00 to $69.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Barclays reduced their target price on shares of Boston Properties from $66.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, May 24th. Finally, StockNews.com cut shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $69.47.

Get Our Latest Stock Analysis on Boston Properties

Boston Properties Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Boston Properties (NYSE:BXP)

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