Kentucky Retirement Systems Sells 587 Shares of Boston Properties, Inc. (NYSE:BXP)

Kentucky Retirement Systems lessened its stake in Boston Properties, Inc. (NYSE:BXP) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,965 shares of the real estate investment trust’s stock after selling 587 shares during the quarter. Kentucky Retirement Systems’ holdings in Boston Properties were worth $716,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Ieq Capital LLC raised 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 during the period. First Trust Direct Indexing L.P. raised its stake in shares of Boston Properties by 2.8% in the first quarter. First Trust Direct Indexing L.P. now owns 6,620 shares of the real estate investment trust’s stock valued at $432,000 after buying an additional 182 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Boston Properties by 6.3% in the first quarter. Sequoia Financial Advisors LLC now owns 3,348 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 199 shares during the period. Carson Advisory Inc. raised its stake in shares of Boston Properties by 4.3% in the fourth quarter. Carson Advisory Inc. now owns 4,853 shares of the real estate investment trust’s stock valued at $341,000 after buying an additional 202 shares during the period. Finally, Cambridge Trust Co. raised its stake in shares of Boston Properties by 80.1% in the fourth quarter. Cambridge Trust Co. now owns 562 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 250 shares during the period. Institutional investors own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BXP. Barclays reduced their price target on 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. Truist Financial reduced their price target on Boston Properties from $75.00 to $67.00 and set a “hold” rating for the company in a research report on Friday, June 14th. StockNews.com upgraded Boston Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Evercore ISI reduced their target price on Boston Properties from $73.00 to $69.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Finally, Wedbush reduced their target price on Boston Properties from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $69.60.

Boston Properties Trading Up 0.4 %

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

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

Boston Properties Dividend Announcement

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. The ex-dividend date is Friday, June 28th. This represents a $3.92 dividend on an annualized basis and a yield of 5.54%. Boston Properties’s dividend payout ratio is currently 321.31%.

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.