Boston Properties, Inc. (NYSE:BXP) Position Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 32.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 131,597 shares of the real estate investment trust’s stock after selling 63,004 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of Boston Properties worth $8,101,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BXP. Norges Bank bought a new stake in Boston Properties during the fourth quarter worth approximately $890,848,000. Earnest Partners LLC boosted its stake in Boston Properties by 29.8% in the 1st quarter. Earnest Partners LLC now owns 2,094,625 shares of the real estate investment trust’s stock worth $136,800,000 after purchasing an additional 480,961 shares during the period. Centersquare Investment Management LLC boosted its stake in Boston Properties by 30.9% in the 4th quarter. Centersquare Investment Management LLC now owns 1,986,707 shares of the real estate investment trust’s stock worth $139,407,000 after purchasing an additional 468,950 shares during the period. Los Angeles Capital Management LLC boosted its stake in Boston Properties by 206.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 508,961 shares of the real estate investment trust’s stock worth $33,240,000 after purchasing an additional 342,939 shares during the period. Finally, Sei Investments Co. boosted its stake in Boston Properties by 42.2% in the 1st quarter. Sei Investments Co. now owns 1,131,741 shares of the real estate investment trust’s stock worth $73,914,000 after purchasing an additional 335,686 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 price objective on shares of Boston Properties in a research note on Thursday, June 20th. Wells Fargo & Company raised their price objective on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday. Evercore ISI lifted their target price on shares of Boston Properties from $76.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Barclays decreased their target price on shares of Boston Properties from $66.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, May 24th. Finally, Wedbush lifted their target price on shares of Boston Properties from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Boston Properties has a consensus rating of “Hold” and a consensus price target of $73.54.

Insider Activity

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Peter V. Otteni sold 4,785 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction of $1,621,248.75. The disclosure for this sale can be found here. 1.35% of the stock is owned by company insiders.

Boston Properties Stock Up 1.8 %

Boston Properties stock opened at $80.06 on Friday. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of 65.62, a P/E/G ratio of 0.35 and a beta of 1.18. The company has a debt-to-equity ratio of 1.90, a current ratio of 4.83 and a quick ratio of 4.83. Boston Properties, Inc. has a fifty-two week low of $50.64 and a fifty-two week high of $80.58. The firm has a fifty day moving average price of $70.41 and a two-hundred day moving average price of $64.80.

Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The firm had revenue of $850.48 million for the quarter, compared to analyst estimates of $819.49 million. Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.86 EPS. As a group, analysts forecast that Boston Properties, Inc. will post 7.11 earnings per share for the current year.

Boston Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Monday, September 30th. Boston Properties’s dividend payout ratio is currently 321.31%.

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.