Illinois Municipal Retirement Fund Sells 11,201 Shares of Boston Properties, Inc. (NYSE:BXP)

Illinois Municipal Retirement Fund lowered its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 6.4% in the fourth quarter, HoldingsChannel reports. The firm owned 163,984 shares of the real estate investment trust’s stock after selling 11,201 shares during the period. Illinois Municipal Retirement Fund’s holdings in Boston Properties were worth $11,507,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Boston Properties during the fourth quarter worth about $15,810,000. Dark Forest Capital Management LP bought a new position in Boston Properties during the third quarter worth about $904,000. Knights of Columbus Asset Advisors LLC bought a new position in Boston Properties during the fourth quarter worth about $5,017,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings 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 worth $13,195,000 after purchasing an additional 23,795 shares during the period. Finally, 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 worth $12,401,000 after acquiring an additional 137,058 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Boston Properties Price Performance

Shares of NYSE BXP traded up $2.45 during midday trading on Tuesday, reaching $63.79. 524,626 shares of the company were exchanged, compared to its average volume of 1,431,860. The stock’s 50-day moving average price is $63.33 and its 200-day moving average price is $62.76. The stock has a market cap of $10.02 billion, a P/E ratio of 50.69 and a beta of 1.15. Boston Properties, Inc. has a one year low of $46.80 and a one year high of $73.97. 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 posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.05). The company had revenue of $828.90 million for the quarter, compared to the consensus estimate of $811.59 million. Boston Properties had a return on equity of 2.32% and a net margin of 5.81%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.86 EPS. On average, sell-side analysts anticipate that Boston Properties, Inc. will post 7.12 earnings per share for the current fiscal year.

Boston Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.98 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.92 annualized dividend and a dividend yield of 6.15%. Boston Properties’s dividend payout ratio is 323.97%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BXP. Truist Financial cut their price objective on shares of Boston Properties from $77.00 to $75.00 and set a “hold” rating for the company in a research report on Tuesday, March 5th. BMO Capital Markets dropped their price target on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Barclays dropped 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 research report on Wednesday, March 27th. StockNews.com upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Boston Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $74.00 price target for the company. 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $69.44.

Insider Buying and Selling

In related news, EVP Raymond A. Ritchey sold 14,150 shares of the business’s stock in a transaction on 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 SEC, which is accessible through this link. 1.35% of the stock is currently owned by 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.