State Street Corp lowered its position in Boston Properties, Inc. (NYSE:BXP) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,840,818 shares of the real estate investment trust’s stock after selling 45,018 shares during the period. State Street Corp owned about 5.75% of Boston Properties worth $1,170,622,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in BXP. BlackRock Inc. boosted its stake 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 valued at $1,939,871,000 after buying an additional 14,048,513 shares during the period. Norges Bank purchased a new stake in shares of Boston Properties during the fourth quarter worth about $562,408,000. JPMorgan Chase & Co. boosted its stake 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. Brookfield Asset Management Inc. bought a new position in Boston Properties during the fourth quarter valued at $83,988,000. Finally, Vanguard Group Inc. boosted its position in 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 valued at $2,939,641,000 after buying an additional 398,674 shares in the last quarter. 94.43% of the stock is owned by institutional investors.
Boston Properties, Inc. (NYSE BXP) opened at 119.14 on Wednesday. Boston Properties, Inc. has a 52 week low of $113.69 and a 52 week high of $144.02. The company has a market cap of $18.33 billion, a PE ratio of 43.96 and a beta of 0.65. The stock has a 50 day moving average of $123.14 and a 200 day moving average of $129.11.
Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, April 25th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by $0.02. Boston Properties had a return on equity of 5.54% and a net margin of 16.94%. The company had revenue of $632.23 million during the quarter, compared to analyst estimates of $637.34 million. During the same period last year, the business earned $1.18 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. Equities research analysts predict that Boston Properties, Inc. will post $2.71 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Wednesday, June 28th. Boston Properties’s dividend payout ratio is presently 111.11%.
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A number of research analysts have issued reports on BXP shares. Barclays PLC decreased their target price on shares of Boston Properties from $141.00 to $137.00 and set an “overweight” rating on the stock in a research report on Tuesday. Zacks Investment Research lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Sunday. Jefferies Group LLC reissued a “hold” rating and issued a $121.00 price objective on shares of Boston Properties in a research note on Friday, July 14th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $150.00 price target on shares of Boston Properties in a research note on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $138.59.
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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