Bamco Inc. NY Cuts Holdings in Boston Properties (BXP)

Bamco Inc. NY reduced its position in shares of Boston Properties (NYSE:BXP) by 18.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,467 shares of the real estate investment trust’s stock after selling 11,041 shares during the period. Bamco Inc. NY’s holdings in Boston Properties were worth $5,849,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Centersquare Investment Management LLC acquired a new position in shares of Boston Properties during the 1st quarter worth approximately $258,419,000. Daiwa Securities Group Inc. boosted its holdings in shares of Boston Properties by 6,461.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,815,988 shares of the real estate investment trust’s stock worth $236,133,000 after purchasing an additional 1,788,312 shares during the last quarter. PGGM Investments boosted its holdings in shares of Boston Properties by 33.2% during the 4th quarter. PGGM Investments now owns 2,950,000 shares of the real estate investment trust’s stock worth $383,588,000 after purchasing an additional 734,542 shares during the last quarter. Resolution Capital Ltd boosted its holdings in shares of Boston Properties by 100.9% during the 4th quarter. Resolution Capital Ltd now owns 505,898 shares of the real estate investment trust’s stock worth $65,782,000 after purchasing an additional 254,092 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Boston Properties by 1.4% during the 4th quarter. BlackRock Inc. now owns 15,489,489 shares of the real estate investment trust’s stock worth $2,014,100,000 after purchasing an additional 211,067 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

Boston Properties opened at $118.19 on Tuesday, according to Marketbeat.com. Boston Properties has a one year low of $111.57 and a one year high of $132.00. The company has a market capitalization of $18.07 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 3.15 and a beta of 0.57. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.14 and a current ratio of 3.14.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Tuesday, April 24th. The real estate investment trust reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.50. Boston Properties had a return on equity of 6.81% and a net margin of 20.48%. The firm had revenue of $661.20 million for the quarter, compared to analysts’ expectations of $648.23 million. During the same period in the prior year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. analysts anticipate that Boston Properties will post 6.31 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 30th. Investors of record on Thursday, March 29th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Wednesday, March 28th.

In related news, insider Bryan J. Koop sold 10,560 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $124.27, for a total value of $1,312,291.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.88% of the company’s stock.

Several research analysts have recently weighed in on the company. Citigroup lowered their target price on Boston Properties from $129.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, May 2nd. BMO Capital Markets set a $130.00 target price on Boston Properties and gave the stock a “hold” rating in a report on Monday, February 12th. Jefferies Group restated a “hold” rating on shares of Boston Properties in a report on Tuesday, February 27th. Evercore ISI upgraded Boston Properties from an “in-line” rating to an “outperform” rating in a report on Monday, March 5th. Finally, JPMorgan Chase restated a “neutral” rating and set a $133.00 target price (down from $136.00) on shares of Boston Properties in a report on Tuesday, March 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Boston Properties currently has an average rating of “Hold” and an average price target of $131.54.

Boston Properties Company Profile

Boston Properties is a fully integrated real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 50.3 million square feet and consisting of 167 office properties (including eight properties under construction), six residential properties (including four properties under construction), five retail properties and one hotel.

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Institutional Ownership by Quarter for Boston Properties (NYSE:BXP)

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