US Bancorp DE reduced its stake in Boston Properties, Inc. (NYSE:BXP) by 6.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,298 shares of the real estate investment trust’s stock after selling 3,458 shares during the period. US Bancorp DE’s holdings in Boston Properties were worth $6,311,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in BXP. Jane Street Group LLC bought a new stake in shares of Boston Properties during the first quarter valued at approximately $200,000. Atria Investments LLC bought a new stake in shares of Boston Properties during the first quarter valued at approximately $224,000. Raymond James Trust N.A. bought a new stake in shares of Boston Properties during the first quarter valued at approximately $232,000. Advisor Partners LLC raised its stake in shares of Boston Properties by 12.9% in the first quarter. Advisor Partners LLC now owns 2,204 shares of the real estate investment trust’s stock valued at $292,000 after buying an additional 252 shares in the last quarter. Finally, FDO Partners LLC bought a new stake in shares of Boston Properties during the first quarter valued at approximately $324,000. 93.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of Boston Properties, Inc. (BXP) traded down 1.02% during trading on Friday, reaching $119.83. 866,242 shares of the company traded hands. Boston Properties, Inc. has a 52 week low of $113.69 and a 52 week high of $143.65. The company’s 50-day moving average price is $121.09 and its 200-day moving average price is $127.39. The company has a market capitalization of $18.49 billion, a P/E ratio of 40.62 and a beta of 0.64.
Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.05. The company had revenue of $656.90 million during the quarter, compared to analyst estimates of $645.96 million. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 EPS. Equities research analysts forecast that Boston Properties, Inc. will post $2.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, June 30th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.50%. The ex-dividend date was Wednesday, June 28th. Boston Properties’s dividend payout ratio is 102.04%.
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Several analysts have commented on BXP shares. TheStreet raised shares of Boston Properties from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Boston Properties in a research report on Wednesday, July 5th. BidaskClub raised shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $121.00 price objective on shares of Boston Properties in a research report on Friday, July 14th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $133.00 price objective (down previously from $138.00) on shares of Boston Properties in a research report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $134.73.
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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