State Board of Administration of Florida Retirement System Increases Stock Holdings in Boston Properties, Inc. (NYSE:BXP)

State Board of Administration of Florida Retirement System boosted its position in Boston Properties, Inc. (NYSE:BXPGet Rating) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 202,265 shares of the real estate investment trust’s stock after purchasing an additional 1,386 shares during the period. State Board of Administration of Florida Retirement System owned about 0.13% of Boston Properties worth $26,052,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BXP. Norges Bank purchased a new position in Boston Properties in the fourth quarter worth about $1,501,665,000. BlackRock Inc. raised its stake in shares of Boston Properties by 6.9% in the fourth quarter. BlackRock Inc. now owns 17,343,626 shares of the real estate investment trust’s stock worth $1,997,639,000 after buying an additional 1,119,895 shares during the period. Cullen Capital Management LLC raised its stake in shares of Boston Properties by 17,612.1% in the first quarter. Cullen Capital Management LLC now owns 919,611 shares of the real estate investment trust’s stock worth $118,446,000 after buying an additional 914,419 shares during the period. State Street Corp raised its stake in shares of Boston Properties by 7.8% in the fourth quarter. State Street Corp now owns 10,388,227 shares of the real estate investment trust’s stock worth $1,206,521,000 after buying an additional 754,483 shares during the period. Finally, Capital Research Global Investors bought a new position in shares of Boston Properties in the fourth quarter worth about $75,689,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

Boston Properties Price Performance

Shares of Boston Properties stock opened at $86.59 on Friday. The stock has a market cap of $13.57 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 2.01 and a beta of 1.11. The company has a debt-to-equity ratio of 1.71, a quick ratio of 4.73 and a current ratio of 4.35. The stock has a 50 day moving average price of $92.68 and a 200-day moving average price of $110.47. Boston Properties, Inc. has a one year low of $84.86 and a one year high of $133.11.

Boston Properties (NYSE:BXPGet Rating) last announced its earnings results on Tuesday, July 26th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.64. Boston Properties had a return on equity of 8.17% and a net margin of 22.04%. During the same period in the previous year, the business posted $1.72 earnings per share. Equities analysts expect that Boston Properties, Inc. will post 7.5 EPS for the current year.

Boston Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Thursday, June 30th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Wednesday, June 29th. Boston Properties’s payout ratio is currently 93.33%.

Analysts Set New Price Targets

Several research analysts have recently commented on BXP shares. Truist Financial decreased their price objective on Boston Properties from $130.00 to $105.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. Piper Sandler downgraded Boston Properties from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $120.00 to $100.00 in a research note on Thursday, July 28th. Deutsche Bank Aktiengesellschaft decreased their target price on Boston Properties from $139.00 to $104.00 in a research note on Wednesday, July 20th. UBS Group decreased their target price on Boston Properties from $131.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. Finally, Jefferies Financial Group decreased their target price on Boston Properties from $112.00 to $88.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Boston Properties has a consensus rating of “Hold” and a consensus price target of $105.54.

Boston Properties Company Profile

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Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.

Further Reading

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

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