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%.
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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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