FTB Advisors Inc. lowered its position in Boston Properties Inc. (NYSE:BXP) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,557 shares of the company’s stock after selling 13 shares during the period. FTB Advisors Inc.’s holdings in Boston Properties were worth $205,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in BXP. Bank of Montreal Can bought a new position in shares of Boston Properties during the second quarter worth about $123,626,000. Renaissance Technologies LLC bought a new position in shares of Boston Properties during the first quarter worth about $37,794,000. AMP Capital Investors Ltd increased its position in shares of Boston Properties by 180.3% in the first quarter. AMP Capital Investors Ltd now owns 440,638 shares of the company’s stock worth $55,837,000 after buying an additional 283,456 shares during the last quarter. Royal Bank of Canada increased its position in shares of Boston Properties by 89.5% in the first quarter. Royal Bank of Canada now owns 318,699 shares of the company’s stock worth $40,500,000 after buying an additional 150,542 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Boston Properties by 9.6% in the first quarter. Wellington Management Group LLP now owns 1,307,450 shares of the company’s stock worth $166,151,000 after buying an additional 114,493 shares during the last quarter. 95.55% of the stock is owned by hedge funds and other institutional investors.
Shares of Boston Properties Inc. (NYSE:BXP) traded up 0.1005% during trading on Monday, hitting $127.0275. The stock had a trading volume of 461,712 shares. The company has a market cap of $19.52 billion, a PE ratio of 32.5712 and a beta of 0.64. Boston Properties Inc. has a 12-month low of $107.28 and a 12-month high of $144.02. The stock’s 50 day moving average is $135.71 and its 200-day moving average is $133.12.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.39 by $0.04. The business earned $623.50 million during the quarter, compared to analysts’ expectations of $612.38 million. Boston Properties had a return on equity of 7.89% and a net margin of 24.01%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm earned $1.36 EPS. Analysts forecast that Boston Properties Inc. will post $5.98 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a dividend of $0.65 per share. The ex-dividend date is Wednesday, September 28th. This represents a $2.60 annualized dividend and a yield of 2.04%. Boston Properties’s dividend payout ratio is presently 66.50%.
A number of brokerages have issued reports on BXP. Morgan Stanley downgraded Boston Properties from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $140.00 to $145.00 in a report on Monday, July 25th. Zacks Investment Research raised Boston Properties from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a report on Monday, June 20th. Mizuho boosted their price target on Boston Properties from $125.00 to $131.00 and gave the company a “neutral” rating in a report on Thursday, July 28th. Jefferies Group decreased their price target on Boston Properties from $141.00 to $138.00 and set a “hold” rating for the company in a report on Monday, August 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Boston Properties from $133.00 to $144.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $145.08.
In related news, Director Martin Turchin sold 1,504 shares of Boston Properties stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $140.31, for a total transaction of $211,026.24. Following the completion of the transaction, the director now directly owns 2,857 shares of the company’s stock, valued at $400,865.67. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Frank D. Burt sold 4,573 shares of Boston Properties stock in a transaction on Monday, August 1st. The stock was sold at an average price of $142.26, for a total value of $650,554.98. The disclosure for this sale can be found here. Corporate insiders own 6.17% of the company’s stock.
About Boston Properties
Boston Properties, Inc is a real estate investment trust. The Company is an owner and developer of office properties in the United States. The Company’s segments by geographic area are Boston, New York, San Francisco and Washington, DC. The Company conducts its operations through Boston Properties Limited Partnership.
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