Boston Properties, Inc. (NYSE:BXP) Position Lowered by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lowered its stake in shares of Boston Properties, Inc. (NYSE:BXP) by 2.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,645 shares of the real estate investment trust’s stock after selling 1,120 shares during the period. Manning & Napier Advisors LLC’s holdings in Boston Properties were worth $5,368,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Boston Properties by 1.8% in the first quarter. Vanguard Group Inc. now owns 22,201,045 shares of the real estate investment trust’s stock worth $2,939,641,000 after buying an additional 398,674 shares during the last quarter. BlackRock Inc. raised its position in shares of Boston Properties by 2,333.7% in the first quarter. BlackRock Inc. now owns 14,650,487 shares of the real estate investment trust’s stock worth $1,939,871,000 after buying an additional 14,048,513 shares during the last quarter. FMR LLC raised its position in shares of Boston Properties by 1.0% in the first quarter. FMR LLC now owns 9,801,296 shares of the real estate investment trust’s stock worth $1,297,790,000 after buying an additional 101,344 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Boston Properties by 45.5% in the first quarter. JPMorgan Chase & Co. now owns 3,942,489 shares of the real estate investment trust’s stock worth $522,026,000 after buying an additional 1,233,425 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Boston Properties by 8.4% in the first quarter. Bank of New York Mellon Corp now owns 3,741,444 shares of the real estate investment trust’s stock worth $495,403,000 after buying an additional 290,593 shares during the last quarter. 93.80% of the stock is owned by institutional investors.

Boston Properties, Inc. (NYSE:BXP) traded down 1.02% during trading on Friday, hitting $119.83. 866,242 shares of the stock traded hands. The company has a 50-day moving average price of $121.09 and a 200-day moving average price of $127.39. The stock has a market cap of $18.49 billion, a PE ratio of 40.62 and a beta of 0.64. Boston Properties, Inc. has a 12 month low of $113.69 and a 12 month high of $143.65.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.05. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The company had revenue of $656.90 million for the quarter, compared to analysts’ expectations of $645.96 million. During the same quarter in the previous year, the business posted $1.44 earnings per share. Boston Properties’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts expect that Boston Properties, Inc. will post $2.78 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Wednesday, June 28th. Boston Properties’s payout ratio is 102.04%.

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A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Boston Properties from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Jefferies Group LLC reissued a “hold” rating and issued a $121.00 price target on shares of Boston Properties in a report on Friday, July 14th. Royal Bank Of Canada reissued a “buy” rating and issued a $150.00 price target on shares of Boston Properties in a report on Wednesday, July 5th. TheStreet raised shares of Boston Properties from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $134.73.

Boston Properties Company Profile

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.

Institutional Ownership by Quarter for Boston Properties (NYSE:BXP)

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