Fiduciary Trust Co. lowered its position in shares of Boston Properties, Inc. (NYSE:BXP) by 10.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,686 shares of the real estate investment trust’s stock after selling 1,004 shares during the period. Fiduciary Trust Co.’s holdings in Boston Properties were worth $1,150,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of BXP. Cadence Capital Management LLC increased its position in Boston Properties by 4.1% in the fourth quarter. Cadence Capital Management LLC now owns 2,236 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 89 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in Boston Properties during the fourth quarter worth approximately $206,000. First Allied Advisory Services Inc. boosted its stake in Boston Properties by 1.7% in the fourth quarter. First Allied Advisory Services Inc. now owns 2,038 shares of the real estate investment trust’s stock worth $256,000 after buying an additional 35 shares in the last quarter. Tyers Asset Management LLC purchased a new stake in Boston Properties during the fourth quarter worth $463,000. Finally, Janus Capital Management LLC boosted its stake in Boston Properties by 31.3% in the fourth quarter. Janus Capital Management LLC now owns 240,881 shares of the real estate investment trust’s stock worth $30,299,000 after buying an additional 57,489 shares in the last quarter. 94.41% of the stock is currently owned by institutional investors and hedge funds.
Boston Properties, Inc. (NYSE BXP) traded up 0.43% during mid-day trading on Friday, reaching $125.38. 188,083 shares of the company were exchanged. Boston Properties, Inc. has a 1-year low of $113.69 and a 1-year high of $144.02. The stock has a 50-day moving average of $123.05 and a 200 day moving average of $129.28. The firm has a market capitalization of $19.29 billion, a P/E ratio of 46.27 and a beta of 0.67.
Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $1.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The firm had revenue of $632.23 million during the quarter, compared to analyst estimates of $637.34 million. Boston Properties had a net margin of 16.94% and a return on equity of 5.54%. Boston Properties’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 earnings per share. Equities research analysts forecast that Boston Properties, Inc. will post $2.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Wednesday, June 28th. Boston Properties’s payout ratio is currently 111.11%.
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A number of research firms have recently weighed in on BXP. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $127.00 price target on shares of Boston Properties in a report on Thursday. BidaskClub upgraded shares of Boston Properties from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. BMO Capital Markets restated a “buy” rating and issued a $145.00 price target on shares of Boston Properties in a report on Thursday, March 2nd. Evercore ISI restated an “in-line” rating and issued a $133.00 price target (down from $138.00) on shares of Boston Properties in a report on Friday, April 28th. Finally, TheStreet cut shares of Boston Properties from a “b-” rating to a “c” rating in a report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $138.69.
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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