World Asset Management Inc lowered its stake in Boston Properties, Inc. (NYSE:BXP) by 10.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,130 shares of the real estate investment trust’s stock after selling 1,956 shares during the period. World Asset Management Inc’s holdings in Boston Properties were worth $1,984,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of BXP. Daiwa Securities Group Inc. raised its stake in shares of Boston Properties by 13.0% in the second quarter. Daiwa Securities Group Inc. now owns 26,000 shares of the real estate investment trust’s stock worth $3,199,000 after buying an additional 3,000 shares during the last quarter. Harbour Capital Advisors LLC raised its stake in shares of Boston Properties by 12,201.8% in the second quarter. Harbour Capital Advisors LLC now owns 13,532 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 13,422 shares during the last quarter. IBM Retirement Fund raised its stake in shares of Boston Properties by 120.8% in the second quarter. IBM Retirement Fund now owns 3,776 shares of the real estate investment trust’s stock worth $519,000 after buying an additional 2,066 shares during the last quarter. Sumitomo Life Insurance Co. raised its stake in shares of Boston Properties by 4.4% in the second quarter. Sumitomo Life Insurance Co. now owns 15,185 shares of the real estate investment trust’s stock worth $1,868,000 after buying an additional 639 shares in the last quarter. Finally, Bowling Portfolio Management LLC bought a new stake in shares of Boston Properties during the second quarter worth approximately $1,033,000. 93.80% of the stock is owned by hedge funds and other institutional investors.
Boston Properties, Inc. (BXP) opened at 119.83 on Friday. The company has a 50-day moving average price of $121.09 and a 200-day moving average price of $127.39. The company 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 1-year low of $113.69 and a 1-year high of $143.65.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $656.90 million for the quarter, compared to the consensus estimate of $645.96 million. During the same period last year, the firm posted $1.44 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts expect that Boston Properties, Inc. will post $2.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Wednesday, June 28th. Boston Properties’s dividend payout ratio is presently 102.04%.
BXP has been the subject of a number of recent research reports. Evercore ISI restated an “in-line” rating and issued a $133.00 target price (down previously from $138.00) on shares of Boston Properties in a research note on Friday, April 28th. Barclays PLC dropped their price objective on Boston Properties from $141.00 to $137.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 18th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $127.00 price objective on shares of Boston Properties in a research note on Thursday, June 22nd. Zacks Investment Research downgraded Boston Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Finally, TheStreet downgraded Boston Properties from a “b-” rating to a “c” rating in a research report on Wednesday, May 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Boston Properties has an average 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.
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