California Public Employees Retirement System Boosts Stake in Boston Properties, Inc. (BXP)
California Public Employees Retirement System lifted its position in Boston Properties, Inc. (NYSE:BXP) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 383,195 shares of the real estate investment trust’s stock after purchasing an additional 6,011 shares during the quarter. California Public Employees Retirement System’s holdings in Boston Properties were worth $49,827,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of BXP. Shelton Capital Management purchased a new position in shares of Boston Properties in the 2nd quarter worth about $259,000. Janus Henderson Group PLC boosted its holdings in shares of Boston Properties by 235.7% in the 2nd quarter. Janus Henderson Group PLC now owns 64,682 shares of the real estate investment trust’s stock worth $7,957,000 after purchasing an additional 45,417 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Boston Properties in the 2nd quarter worth about $355,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Boston Properties by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 164,165 shares of the real estate investment trust’s stock worth $20,196,000 after purchasing an additional 4,764 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of Boston Properties by 185.7% in the 2nd quarter. Verition Fund Management LLC now owns 5,559 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 3,613 shares in the last quarter. Hedge funds and other institutional investors own 95.83% of the company’s stock.
Shares of Boston Properties, Inc. (NYSE BXP) opened at $116.19 on Wednesday. The firm has a market capitalization of $17,769.02, a PE ratio of 18.54, a P/E/G ratio of 3.25 and a beta of 0.58. Boston Properties, Inc. has a fifty-two week low of $111.57 and a fifty-two week high of $140.13. The company has a current ratio of 0.43, a quick ratio of 0.44 and a debt-to-equity ratio of 0.92.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $3.20 annualized dividend and a yield of 2.75%. This is a boost from Boston Properties’s previous quarterly dividend of $0.75. Boston Properties’s dividend payout ratio (DPR) is 109.22%.
A number of equities analysts have recently issued reports on the company. BMO Capital Markets reiterated a “hold” rating and issued a $134.00 price objective on shares of Boston Properties in a report on Thursday, February 1st. Edward Jones upgraded Boston Properties from a “hold” rating to a “buy” rating in a report on Monday, February 5th. KeyCorp reiterated a “hold” rating on shares of Boston Properties in a report on Friday, November 3rd. Jefferies Group reiterated a “hold” rating and issued a $124.00 price objective on shares of Boston Properties in a report on Tuesday, October 24th. Finally, Argus cut their price objective on Boston Properties to $140.00 and set a “buy” rating for the company in a report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $130.80.
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About Boston Properties
Boston Properties, Inc is a real estate investment trust. The Company is an owner and developer of office properties in the United States. Its segments by geographic area are Boston, New York, San Francisco and Washington, DC. Its segments by property type include Office, Residential and Hotel. As of December 31, 2016, the Company owned or had interests in 174 commercial real estate properties, aggregating approximately 47.7 million net rentable square feet of primarily Class A office properties, including eight properties under construction/redevelopment totaling approximately 4.0 million net rentable square feet.
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