Moors & Cabot Inc. Invests $322,000 in Boston Properties, Inc. (BXP) Stock

Moors & Cabot Inc. bought a new position in shares of Boston Properties, Inc. (NYSE:BXP) in the first quarter, HoldingsChannel reports. The firm bought 2,418 shares of the real estate investment trust’s stock, valued at approximately $322,000.

A number of other institutional investors also recently made changes to their positions in BXP. BlackRock Inc. boosted its position in shares of Boston Properties by 1.7% in the fourth quarter. BlackRock Inc. now owns 16,120,682 shares of the real estate investment trust’s stock valued at $1,814,382,000 after acquiring an additional 274,895 shares during the period. Norges Bank bought a new stake in shares of Boston Properties in the fourth quarter valued at approximately $1,196,899,000. FMR LLC boosted its position in shares of Boston Properties by 2.1% in the fourth quarter. FMR LLC now owns 6,993,478 shares of the real estate investment trust’s stock valued at $787,116,000 after acquiring an additional 142,799 shares during the period. Northern Trust Corp boosted its position in shares of Boston Properties by 4.2% in the fourth quarter. Northern Trust Corp now owns 2,572,873 shares of the real estate investment trust’s stock valued at $289,577,000 after acquiring an additional 102,918 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Boston Properties by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 2,437,060 shares of the real estate investment trust’s stock valued at $273,894,000 after acquiring an additional 186,025 shares during the period. 97.00% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research cut Boston Properties from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Deutsche Bank increased 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 for the company in a research report on Monday, March 25th. ValuEngine cut Boston Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Morgan Stanley cut Boston Properties from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $130.00 to $116.00 in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $136.71.

In related news, insider Bryan J. Koop sold 5,616 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $133.95, for a total value of $752,263.20. Following the completion of the transaction, the insider now directly owns 10,175 shares of the company’s stock, valued at $1,362,941.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.99% of the stock is owned by company insiders.

Shares of BXP stock opened at $132.75 on Wednesday. The firm has a market capitalization of $20.65 billion, a P/E ratio of 21.07, a PEG ratio of 3.06 and a beta of 0.93. Boston Properties, Inc. has a one year low of $107.84 and a one year high of $140.35. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.78 and a quick ratio of 3.78.

Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.72 EPS for the quarter, topping the consensus estimate of $1.66 by $0.06. The firm had revenue of $725.80 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business earned $1.49 earnings per share. As a group, sell-side analysts predict that Boston Properties, Inc. will post 6.99 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a $0.95 dividend. The ex-dividend date was Thursday, March 28th. This represents a $3.80 annualized dividend and a yield of 2.86%. Boston Properties’s dividend payout ratio (DPR) is currently 60.32%.

COPYRIGHT VIOLATION WARNING: This story was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another site, it was illegally copied and reposted in violation of United States and international trademark & copyright legislation. The original version of this story can be accessed at https://www.dispatchtribunal.com/2019/05/22/moors-cabot-inc-invests-322000-in-boston-properties-inc-bxp-stock.html.

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.

See Also: Quiet Period Expirations

Want to see what other hedge funds are holding BXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Properties, Inc. (NYSE:BXP).

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

Receive News & Ratings for Boston Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Properties and related companies with MarketBeat.com's FREE daily email newsletter.