Earnest Partners LLC lessened its holdings in Boston Properties, Inc. (NYSE:BXP) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 187,438 shares of the real estate investment trust’s stock after selling 7,994 shares during the quarter. Earnest Partners LLC owned approximately 0.12% of Boston Properties worth $23,032,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Amica Retiree Medical Trust acquired a new stake in shares of Boston Properties in the third quarter valued at approximately $105,000. Sun Life Financial INC raised its holdings in shares of Boston Properties by 10,118.2% in the second quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 1,113 shares during the last quarter. Garner Asset Management Corp bought a new position in Boston Properties during the second quarter worth $214,000. Timber Hill LLC bought a new position in Boston Properties during the third quarter worth $232,000. Finally, Clinton Group Inc. bought a new position in Boston Properties during the second quarter worth $236,000. Institutional investors and hedge funds own 95.22% of the company’s stock.
A number of research firms recently commented on BXP. Argus lowered their target price on Boston Properties to $140.00 and set a “buy” rating for the company in a research note on Thursday, November 16th. Evercore ISI restated an “in-line” rating and set a $133.00 price target (up from $127.00) on shares of Boston Properties in a report on Friday, October 6th. KeyCorp restated a “hold” rating on shares of Boston Properties in a report on Friday, November 3rd. Mizuho reiterated a “hold” rating and issued a $122.00 target price on shares of Boston Properties in a report on Friday, November 3rd. Finally, Royal Bank of Canada set a $140.00 price target on Boston Properties and gave the stock a “buy” rating in a report on Monday, November 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $132.80.
Boston Properties, Inc. (NYSE:BXP) traded down $0.75 during midday trading on Tuesday, reaching $129.28. The company had a trading volume of 689,987 shares, compared to its average volume of 670,250. Boston Properties, Inc. has a twelve month low of $116.77 and a twelve month high of $140.13. The stock has a market cap of $19,950.00, a price-to-earnings ratio of 40.27, a P/E/G ratio of 3.72 and a beta of 0.63. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.44 and a quick ratio of 0.44.
Boston Properties (NYSE:BXP) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.03. Boston Properties had a return on equity of 6.43% and a net margin of 19.42%. The firm had revenue of $657.70 million during the quarter, compared to analyst estimates of $649.84 million. During the same period last year, the firm posted $1.42 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. research analysts anticipate that Boston Properties, Inc. will post 6.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Thursday, December 28th. This is an increase from Boston Properties’s previous quarterly dividend of $0.75. Boston Properties’s dividend payout ratio (DPR) is 99.69%.
In other news, insider Bryan J. Koop sold 5,868 shares of Boston Properties stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $124.55, for a total transaction of $730,859.40. Following the completion of the sale, the insider now owns 585 shares in the company, valued at approximately $72,861.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.86% of the company’s stock.
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Boston Properties 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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