California State Teachers Retirement System cut its stake in Boston Properties, Inc. (NYSE:BXP) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,496 shares of the real estate investment trust’s stock after selling 20,996 shares during the quarter. California State Teachers Retirement System owned approximately 0.19% of Boston Properties worth $35,860,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Assetmark Inc. lifted its stake in Boston Properties by 10.6% in the 2nd quarter. Assetmark Inc. now owns 62,056 shares of the real estate investment trust’s stock valued at $7,634,000 after buying an additional 5,925 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Boston Properties by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 164,165 shares of the real estate investment trust’s stock valued at $20,196,000 after buying an additional 4,764 shares in the last quarter. Kemper Corp Master Retirement Trust lifted its stake in Boston Properties by 68.8% in the 2nd quarter. Kemper Corp Master Retirement Trust now owns 3,925 shares of the real estate investment trust’s stock valued at $483,000 after buying an additional 1,600 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Boston Properties by 6,579.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 75,073 shares of the real estate investment trust’s stock valued at $9,291,000 after buying an additional 73,949 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Boston Properties in the 2nd quarter valued at about $355,000. 94.59% of the stock is currently owned by hedge funds and other institutional investors.
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Boston Properties, Inc. (NYSE BXP) traded up 0.10% on Friday, reaching $128.13. 55,551 shares of the company’s stock were exchanged. Boston Properties, Inc. has a 12-month low of $113.69 and a 12-month high of $140.13. The firm has a 50 day moving average of $122.38 and a 200-day moving average of $124.17. The company has a market cap of $19.77 billion, a P/E ratio of 43.43 and a beta of 0.65.
Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.05. The business had revenue of $656.90 million for the quarter, compared to the consensus estimate of $645.96 million. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Equities analysts expect that Boston Properties, Inc. will post $2.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, September 28th. Boston Properties’s payout ratio is 102.04%.
BXP has been the topic of a number of research reports. Barclays PLC decreased their price target on shares of Boston Properties from $141.00 to $137.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 18th. KeyCorp reaffirmed a “hold” rating on shares of Boston Properties in a research note on Friday, September 1st. BidaskClub raised shares of Boston Properties from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $121.00 price target on shares of Boston Properties in a research note on Friday, July 14th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $150.00 price target on shares of Boston Properties in a research note on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $134.17.
Boston Properties Profile
Boston Properties, Inc is a real estate investment trust. The Company is an owner and developer of office properties in the United States. Its segments by geographic area are Boston, New York, San Francisco and Washington, DC. Its segments by property type include Office, Residential and Hotel. As of December 31, 2016, the Company owned or had interests in 174 commercial real estate properties, aggregating approximately 47.7 million net rentable square feet of primarily Class A office properties, including eight properties under construction/redevelopment totaling approximately 4.0 million net rentable square feet.
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