Employers Holdings Inc. purchased a new position in Boston Properties, Inc. (NYSE:BXP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 800 shares of the real estate investment trust’s stock, valued at approximately $103,000.
A number of other institutional investors have also recently modified their holdings of BXP. Principal Financial Group Inc. lifted its stake in Boston Properties by 77.5% in the first quarter. Principal Financial Group Inc. now owns 3,058,174 shares of the real estate investment trust’s stock worth $409,428,000 after acquiring an additional 1,335,446 shares during the last quarter. Rothschild & Co. Asset Management US Inc. purchased a new position in Boston Properties in the second quarter worth approximately $53,918,000. Ceredex Value Advisors LLC purchased a new position in Boston Properties in the first quarter worth approximately $51,667,000. Jennison Associates LLC lifted its stake in Boston Properties by 139.6% in the first quarter. Jennison Associates LLC now owns 334,818 shares of the real estate investment trust’s stock worth $44,825,000 after acquiring an additional 195,067 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in 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 worth $273,894,000 after acquiring an additional 186,025 shares during the last quarter. Institutional investors own 90.69% of the company’s stock.
A number of brokerages recently issued reports on BXP. Citigroup decreased their price target on shares of Boston Properties from $142.00 to $131.00 and set a “neutral” rating for the company in a research note on Wednesday. Zacks Investment Research downgraded shares of Boston Properties from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Morgan Stanley boosted their price objective on shares of Boston Properties from $116.00 to $123.00 and gave the stock an “underweight” rating in a research report on Monday, June 17th. 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 stock. Boston Properties currently has an average rating of “Hold” and a consensus price target of $136.96.
In other news, insider Bryan J. Koop sold 4,121 shares of Boston Properties stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $134.40, for a total value of $553,862.40. Following the transaction, the insider now directly owns 585 shares of the company’s stock, valued at approximately $78,624. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.99% of the company’s stock.
Shares of Boston Properties stock traded up $1.12 during trading on Friday, reaching $128.21. The company’s stock had a trading volume of 567,400 shares, compared to its average volume of 652,440. The company has a 50-day moving average price of $130.28 and a two-hundred day moving average price of $132.93. The firm has a market cap of $19.42 billion, a PE ratio of 20.35, a P/E/G ratio of 2.90 and a beta of 0.87. Boston Properties, Inc. has a fifty-two week low of $107.84 and a fifty-two week high of $140.35. The company has a current ratio of 4.58, a quick ratio of 4.58 and a debt-to-equity ratio of 1.51.
Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.68). The business had revenue of $733.74 million during the quarter, compared to analyst estimates of $725.14 million. Boston Properties had a net margin of 18.96% and a return on equity of 6.80%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 earnings per share. On average, analysts predict that Boston Properties, Inc. will post 7.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were issued a $0.95 dividend. The ex-dividend date was Thursday, June 27th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.96%. Boston Properties’s payout ratio is 60.32%.
Boston Properties Company 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.
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