US Bancorp DE lowered its position in shares of Boston Properties, Inc. (NYSE:BXP) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,626 shares of the real estate investment trust’s stock after selling 3,696 shares during the quarter. US Bancorp DE’s holdings in Boston Properties were worth $5,112,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in BXP. Rational Advisors LLC raised its position in shares of Boston Properties by 66.4% in the 1st quarter. Rational Advisors LLC now owns 203 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 81 shares during the last quarter. 6 Meridian increased its holdings in Boston Properties by 2.1% in the 2nd quarter. 6 Meridian now owns 4,027 shares of the real estate investment trust’s stock worth $519,000 after buying an additional 82 shares in the last quarter. Hartford Investment Management Co. increased its holdings in Boston Properties by 0.6% in the 2nd quarter. Hartford Investment Management Co. now owns 16,979 shares of the real estate investment trust’s stock worth $2,190,000 after buying an additional 98 shares in the last quarter. World Asset Management Inc increased its holdings in Boston Properties by 0.9% in the 2nd quarter. World Asset Management Inc now owns 11,920 shares of the real estate investment trust’s stock worth $1,538,000 after buying an additional 101 shares in the last quarter. Finally, NEXT Financial Group Inc increased its holdings in Boston Properties by 20.6% in the 2nd quarter. NEXT Financial Group Inc now owns 610 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 104 shares in the last quarter.
Several research firms recently commented on BXP. Robert W. Baird set a $152.00 price objective on Boston Properties and gave the stock a “buy” rating in a report on Wednesday, August 21st. Citigroup reduced their price objective on Boston Properties from $142.00 to $131.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Finally, Morgan Stanley upgraded Boston Properties from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $123.00 to $126.00 in a report on Tuesday, September 10th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $138.04.
Shares of Boston Properties stock traded down $0.53 during trading hours on Thursday, reaching $129.91. 15,334 shares of the stock traded hands, compared to its average volume of 613,442. The company has a 50 day moving average price of $129.00 and a 200 day moving average price of $132.26. The firm has a market capitalization of $20.41 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 3.03 and a beta of 0.88. Boston Properties, Inc. has a one year low of $107.84 and a one year high of $140.35. The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of 1.51.
Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.68). The firm had revenue of $733.74 million for the quarter, compared to the consensus estimate of $725.14 million. Boston Properties had a net margin of 18.96% and a return on equity of 6.80%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Sell-side analysts anticipate that Boston Properties, Inc. will post 7.03 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.95 per share. The ex-dividend date is Friday, September 27th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.93%. Boston Properties’s dividend payout ratio is currently 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.
Further Reading: What does a hold rating mean?
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