Retirement Systems of Alabama Has $28.78 Million Stock Position in Boston Properties, Inc. (NYSE:BXP)

Retirement Systems of Alabama increased its position in shares of Boston Properties, Inc. (NYSE:BXP) by 19.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 410,158 shares of the real estate investment trust’s stock after purchasing an additional 66,692 shares during the quarter. Retirement Systems of Alabama’s holdings in Boston Properties were worth $28,781,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BXP. International Assets Investment Management LLC acquired a new stake in Boston Properties in the 4th quarter valued at about $15,810,000. Dark Forest Capital Management LP acquired a new stake in Boston Properties in the 3rd quarter valued at about $904,000. abrdn plc increased its position in Boston Properties by 4.2% in the 4th quarter. abrdn plc now owns 713,840 shares of the real estate investment trust’s stock valued at $50,090,000 after acquiring an additional 28,870 shares in the last quarter. Knights of Columbus Asset Advisors LLC acquired a new stake in Boston Properties in the 4th quarter valued at about $5,017,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Boston Properties by 12.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 221,845 shares of the real estate investment trust’s stock valued at $13,195,000 after acquiring an additional 23,795 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Activity

In other news, EVP Raymond A. Ritchey sold 14,150 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $62.84, for a total value of $889,186.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.35% of the stock is currently owned by company insiders.

Boston Properties Price Performance

Shares of BXP opened at $61.51 on Monday. The company has a market cap of $9.66 billion, a price-to-earnings ratio of 50.83 and a beta of 1.15. Boston Properties, Inc. has a 1-year low of $46.80 and a 1-year high of $73.97. The company’s fifty day simple moving average is $63.12 and its 200 day simple moving average is $62.97. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 1.99.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $811.59 million. During the same period last year, the firm earned $1.86 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts forecast that Boston Properties, Inc. will post 7.12 earnings per share for the current fiscal year.

Boston Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.37%. Boston Properties’s payout ratio is presently 323.97%.

Analyst Ratings Changes

BXP has been the topic of several recent research reports. Truist Financial reduced their target price on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating on the stock in a research note on Tuesday, March 5th. BMO Capital Markets reduced 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. Jefferies Financial Group raised shares of Boston Properties from a “hold” rating to a “buy” rating and raised their target price for the company from $57.00 to $80.00 in a research note on Tuesday, January 2nd. StockNews.com raised shares of Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Boston Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $74.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $69.44.

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.