Strs Ohio Trims Position in Boston Properties, Inc. (NYSE:BXP)

Posted by Defense World Staff on Jul 16th, 2023

Strs Ohio cut its position in Boston Properties, Inc. (NYSE:BXP – Free Report) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 226,966 shares of the real estate investment trust’s stock after selling 27,685 shares during the period. Strs Ohio owned about 0.14% of Boston Properties worth $12,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BXP. Altshuler Shaham Ltd grew its stake in Boston Properties by 13.0% during the fourth quarter. Altshuler Shaham Ltd now owns 6,704 shares of the real estate investment trust’s stock valued at $453,000 after acquiring an additional 771 shares in the last quarter. ING Groep NV grew its stake in Boston Properties by 32.7% during the fourth quarter. ING Groep NV now owns 29,654 shares of the real estate investment trust’s stock valued at $2,004,000 after acquiring an additional 7,300 shares in the last quarter. MV Capital Management Inc. grew its stake in Boston Properties by 232.7% during the first quarter. MV Capital Management Inc. now owns 509 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 356 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Boston Properties by 1.9% during the first quarter. State of Alaska Department of Revenue now owns 109,585 shares of the real estate investment trust’s stock valued at $5,929,000 after acquiring an additional 1,995 shares in the last quarter. Finally, Cibc World Markets Corp grew its stake in Boston Properties by 3.6% during the fourth quarter. Cibc World Markets Corp now owns 62,719 shares of the real estate investment trust’s stock valued at $4,239,000 after acquiring an additional 2,201 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Boston Properties Trading Down 1.0 %

Shares of BXP opened at $61.46 on Friday. Boston Properties, Inc. has a 1-year low of $46.18 and a 1-year high of $91.57. The company has a 50-day moving average of $53.40 and a 200 day moving average of $58.97. The firm has a market capitalization of $9.64 billion, a price-to-earnings ratio of 12.32 and a beta of 1.12. The company has a debt-to-equity ratio of 1.80, a current ratio of 4.76 and a quick ratio of 4.76.

Boston Properties (NYSE:BXP – Get Free Report) last announced its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($1.20). The company had revenue of $803.20 million for the quarter, compared to the consensus estimate of $778.80 million. Boston Properties had a net margin of 24.82% and a return on equity of 9.44%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.82 EPS. On average, research analysts expect that Boston Properties, Inc. will post 7.16 EPS for the current year.

Boston Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date of this dividend is Thursday, June 29th. Boston Properties’s dividend payout ratio (DPR) is 78.56%.

Insider Buying and Selling at Boston Properties

In other Boston Properties news, Director Carol B. Einiger bought 10,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were acquired at an average price of $47.41 per share, with a total value of $474,100.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $474,100. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Truist Financial cut their target price on shares of Boston Properties from $86.00 to $75.00 in a research note on Thursday, July 6th. Morgan Stanley lowered their price objective on shares of Boston Properties from $67.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, March 31st. Barclays increased their price objective on shares of Boston Properties from $57.00 to $58.00 in a research report on Wednesday, June 14th. StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Monday, June 5th. Finally, Argus lowered their price objective on shares of Boston Properties from $82.00 to $70.00 in a research report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $71.85.

Boston Properties Company Profile

(Free Report)

BXP (NYSE: BXP) 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.