Louisiana State Employees Retirement System Invests $610,000 in Boston Properties, Inc. (NYSE:BXP)

Louisiana State Employees Retirement System purchased a new position in Boston Properties, Inc. (NYSE:BXP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,700 shares of the real estate investment trust’s stock, valued at approximately $610,000.

Several other hedge funds have also recently modified their holdings of BXP. International Assets Investment Management LLC purchased a new stake in Boston Properties during the fourth quarter valued at approximately $15,810,000. Dark Forest Capital Management LP purchased a new stake in Boston Properties during the third quarter valued at approximately $904,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Boston Properties by 12.0% during the third 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 during the last quarter. Whittier Trust Co. lifted its position in Boston Properties by 345.4% during the fourth quarter. Whittier Trust Co. now owns 176,741 shares of the real estate investment trust’s stock valued at $12,401,000 after acquiring an additional 137,058 shares during the last quarter. Finally, abrdn plc lifted its position in Boston Properties by 8.2% during the third quarter. abrdn plc now owns 684,970 shares of the real estate investment trust’s stock valued at $40,742,000 after acquiring an additional 51,926 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Boston Properties Stock Down 0.7 %

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

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

Boston Properties Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have issued reports on BXP. Barclays cut their price target on shares of Boston Properties from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 27th. Jefferies Financial Group upgraded shares of Boston Properties from a “hold” rating to a “buy” rating and upped their price target for the company from $57.00 to $80.00 in a research note on Tuesday, January 2nd. BMO Capital Markets cut their price target 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. Truist Financial cut their price target 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Boston Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $74.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $69.44.

Insider Activity at Boston Properties

In related news, EVP Raymond A. Ritchey sold 14,150 shares of the firm’s stock in a transaction 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 document filed with the SEC, which is available at this link. 1.35% of the stock is owned by company insiders.

Boston Properties Company 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.