LPL Financial LLC lowered its stake in shares of Boston Properties, Inc. (NYSE:BXP) by 14.6% during the third quarter, HoldingsChannel reports. The firm owned 5,357 shares of the real estate investment trust’s stock after selling 918 shares during the quarter. LPL Financial LLC’s holdings in Boston Properties were worth $659,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of BXP. GSA Capital Partners LLP acquired a new stake in Boston Properties in the second quarter worth about $343,000. Federated Investors Inc. PA boosted its holdings in Boston Properties by 91.9% in the second quarter. Federated Investors Inc. PA now owns 2,007 shares of the real estate investment trust’s stock worth $252,000 after acquiring an additional 961 shares in the last quarter. Commonwealth Bank of Australia boosted its holdings in Boston Properties by 31.5% in the second quarter. Commonwealth Bank of Australia now owns 3,221 shares of the real estate investment trust’s stock worth $401,000 after acquiring an additional 772 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Boston Properties by 4.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 16,877 shares of the real estate investment trust’s stock worth $2,117,000 after acquiring an additional 719 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Boston Properties by 4.7% in the second quarter. Raymond James & Associates now owns 81,938 shares of the real estate investment trust’s stock worth $10,277,000 after acquiring an additional 3,655 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.
Shares of NYSE:BXP opened at $119.15 on Friday. Boston Properties, Inc. has a 52-week low of $107.84 and a 52-week high of $132.82. The stock has a market capitalization of $18.14 billion, a PE ratio of 18.94, a PEG ratio of 2.74 and a beta of 0.74. The company has a debt-to-equity ratio of 1.36, a current ratio of 3.74 and a quick ratio of 3.74.
Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. Boston Properties had a return on equity of 6.75% and a net margin of 20.18%. The firm had revenue of $686.28 million during the quarter, compared to analysts’ expectations of $674.30 million. During the same period last year, the business posted $0.76 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities analysts predict that Boston Properties, Inc. will post 6.4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Stockholders of record on Monday, December 31st will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.19%. This is a boost from Boston Properties’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, December 28th.
Several equities research analysts have weighed in on BXP shares. JPMorgan Chase & Co. raised Boston Properties from a “neutral” rating to an “overweight” rating in a report on Friday, October 5th. Zacks Investment Research raised Boston Properties from a “hold” rating to a “buy” rating and set a $141.00 price target for the company in a report on Tuesday, November 20th. SunTrust Banks lowered their price target on Boston Properties from $137.00 to $135.00 and set a “hold” rating for the company in a report on Sunday, November 25th. Scotiabank started coverage on Boston Properties in a report on Tuesday, October 16th. They issued a “sector perform” rating for the company. Finally, Jefferies Financial Group raised Boston Properties from a “hold” rating to a “buy” rating and set a $139.00 price target for the company in a report on Monday, October 15th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Boston Properties currently has a consensus rating of “Buy” and a consensus target price of $134.60.
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About Boston Properties
Boston Properties (NYSE: BXP) is one of the largest publicly-held developers and owners of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.
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