Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Boston Properties, Inc. (NYSE:BXP) by 132.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 76,663 shares of the real estate investment trust’s stock after buying an additional 43,637 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Boston Properties were worth $10,263,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Boston Properties by 8.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,274,888 shares of the real estate investment trust’s stock valued at $526,197,000 after purchasing an additional 326,351 shares during the last quarter. Man Group plc increased its position in shares of Boston Properties by 21.1% during the 3rd quarter. Man Group plc now owns 9,114 shares of the real estate investment trust’s stock valued at $1,121,000 after purchasing an additional 1,590 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Boston Properties by 8.6% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 842,320 shares of the real estate investment trust’s stock valued at $103,681,000 after purchasing an additional 66,463 shares during the last quarter. Nordea Investment Management AB bought a new position in shares of Boston Properties during the 3rd quarter valued at approximately $9,050,000. Finally, Legal & General Group Plc increased its position in shares of Boston Properties by 0.7% during the 3rd quarter. Legal & General Group Plc now owns 1,260,239 shares of the real estate investment trust’s stock valued at $155,123,000 after purchasing an additional 8,372 shares during the last quarter. Hedge funds and other institutional investors own 97.00% of the company’s stock.
In other news, SVP Frank D. Burt sold 2,000 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $133.64, for a total transaction of $267,280.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.99% of the stock is currently owned by corporate insiders.
Boston Properties stock traded up $1.22 during mid-day trading on Thursday, hitting $135.11. The company’s stock had a trading volume of 3,050 shares, compared to its average volume of 704,111. The company has a market capitalization of $20.24 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 3.00 and a beta of 0.93. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 1.38. Boston Properties, Inc. has a one year low of $107.84 and a one year high of $140.35.
Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.06. The company had revenue of $725.80 million for the quarter, compared to the consensus estimate of $703.16 million. Boston Properties had a return on equity of 6.31% and a net margin of 18.15%. Boston Properties’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 EPS. As a group, research analysts anticipate that Boston Properties, Inc. will post 6.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, March 28th. Boston Properties’s payout ratio is 60.32%.
Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Boston Properties from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Deutsche Bank upped their price objective on Boston Properties from $134.00 to $138.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. Evercore ISI raised Boston Properties from an “in-line” rating to an “outperform” rating and set a $131.51 price objective on the stock in a research report on Monday, March 25th. ValuEngine downgraded Boston Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Morgan Stanley downgraded Boston Properties from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $130.00 to $116.00 in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Boston Properties presently has an average rating of “Hold” and a consensus price target of $136.71.
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Boston Properties Profile
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.
Further Reading: Technical Analysis
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