Retirement Systems of Alabama Grows Holdings in Boston Properties, Inc. (NYSE:BXP)

Retirement Systems of Alabama grew its stake in Boston Properties, Inc. (NYSE:BXP) by 19.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 410,158 shares of the real estate investment trust’s stock after acquiring an additional 66,692 shares during the period. Retirement Systems of Alabama owned about 0.26% of Boston Properties worth $28,781,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in Boston Properties by 4.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,376,763 shares of the real estate investment trust’s stock worth $260,330,000 after buying an additional 174,409 shares during the period. Senvest Management LLC increased its stake in Boston Properties by 6.3% during the 3rd quarter. Senvest Management LLC now owns 3,035,887 shares of the real estate investment trust’s stock worth $180,575,000 after buying an additional 179,547 shares during the period. Northern Trust Corp increased its stake in Boston Properties by 9.6% during the 3rd quarter. Northern Trust Corp now owns 2,780,809 shares of the real estate investment trust’s stock worth $165,403,000 after buying an additional 243,246 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Boston Properties by 27.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,986,269 shares of the real estate investment trust’s stock worth $118,143,000 after buying an additional 429,587 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Boston Properties by 86.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,957,055 shares of the real estate investment trust’s stock worth $112,977,000 after buying an additional 906,069 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Boston Properties Trading Down 0.7 %

NYSE BXP opened at $61.51 on Monday. The stock has a market capitalization of $9.66 billion, a P/E ratio of 50.83 and a beta of 1.15. Boston Properties, Inc. has a 52-week low of $46.80 and a 52-week high of $73.97. The firm has a 50-day moving average price of $63.12 and a 200 day moving average price of $62.97. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 1.99.

Boston Properties (NYSE:BXP) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.05). Boston Properties had a return on equity of 2.32% and a net margin of 5.81%. The company had revenue of $828.90 million for the quarter, compared to analyst estimates of $811.59 million. During the same quarter in the previous year, the company posted $1.86 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect that Boston Properties, Inc. will post 7.12 EPS for the current year.

Boston Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 6.37%. The ex-dividend date is Wednesday, March 27th. Boston Properties’s dividend payout ratio is currently 323.97%.

Analyst Upgrades and Downgrades

BXP has been the topic of several recent research reports. BMO Capital Markets cut their target price on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating on the stock in a research note on Monday, April 8th. Barclays lowered their price target on shares of Boston Properties from $67.00 to $66.00 and set an “equal weight” rating for the company in a report on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of Boston Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $74.00 price target for the company. Truist Financial lowered their price target on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, March 5th. Finally, StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Boston Properties has a consensus rating of “Hold” and an average target price of $69.44.

Insiders Place Their Bets

In other Boston Properties news, EVP Raymond A. Ritchey sold 14,150 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total transaction of $889,186.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.35% of the stock is currently owned by insiders.

Boston Properties Profile

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.