State of New Jersey Common Pension Fund D Sells 24,000 Shares of Boston Properties, Inc. (BXP)

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State of New Jersey Common Pension Fund D lowered its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 13.4% during the third quarter, HoldingsChannel reports. The firm owned 155,000 shares of the real estate investment trust’s stock after selling 24,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Boston Properties were worth $19,078,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BXP. The Manufacturers Life Insurance Company raised its holdings in shares of Boston Properties by 8.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 161,777 shares of the real estate investment trust’s stock valued at $19,934,000 after purchasing an additional 12,160 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in shares of Boston Properties by 11,571.4% during the 1st quarter. Summit Trail Advisors LLC now owns 189,661 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 188,036 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Boston Properties by 1.4% during the 1st quarter. Allianz Asset Management GmbH now owns 189,557 shares of the real estate investment trust’s stock valued at $23,357,000 after purchasing an additional 2,619 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Boston Properties by 4.4% during the 1st quarter. Brown Advisory Inc. now owns 10,259 shares of the real estate investment trust’s stock valued at $1,264,000 after purchasing an additional 436 shares in the last quarter. Finally, DnB Asset Management AS raised its holdings in shares of Boston Properties by 5.6% during the 2nd quarter. DnB Asset Management AS now owns 18,740 shares of the real estate investment trust’s stock valued at $2,350,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 94.33% of the company’s stock.

NYSE:BXP opened at $116.95 on Friday. Boston Properties, Inc. has a 1 year low of $111.57 and a 1 year high of $132.82. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $17.99 billion, a P/E ratio of 19.00, a PEG ratio of 3.06 and a beta of 0.55.

Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.73). The company had revenue of $664.48 million during the quarter, compared to analyst estimates of $667.92 million. Boston Properties had a return on equity of 6.71% and a net margin of 20.23%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 earnings per share. Research analysts forecast that Boston Properties, Inc. will post 6.37 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be given a $0.80 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $3.20 annualized dividend and a yield of 2.74%.

BXP has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating in a report on Friday, October 5th. Barclays reiterated a “buy” rating and issued a $125.00 target price on shares of Boston Properties in a research note on Sunday, October 14th. SunTrust Banks raised their target price on shares of Boston Properties to $137.00 and gave the company a “hold” rating in a research note on Monday, August 20th. ValuEngine upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a research note on Sunday, June 24th. Finally, Scotiabank initiated coverage on shares of Boston Properties in a research note on Tuesday. They issued a “sector perform” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $133.69.

About Boston Properties

Boston Properties is a fully integrated real estate company, organized as a real estate investment trust, that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 50.2 million square feet and consisting of 166 office properties (including nine properties under construction), six residential properties (including three properties under construction), five retail properties and one hotel.

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Want to see what other hedge funds are holding BXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Properties, Inc. (NYSE:BXP).

Institutional Ownership by Quarter for Boston Properties (NYSE:BXP)

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