Westpac Banking Corp Has $42.86 Million Position in Boston Properties, Inc. (NYSE:BXP)

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Westpac Banking Corp boosted its position in shares of Boston Properties, Inc. (NYSE:BXP) by 7.3% in the first quarter, HoldingsChannel.com reports. The firm owned 320,145 shares of the real estate investment trust’s stock after purchasing an additional 21,833 shares during the period. Boston Properties accounts for 0.7% of Westpac Banking Corp’s investment portfolio, making the stock its 18th biggest holding. Westpac Banking Corp’s holdings in Boston Properties were worth $42,861,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BXP. Rational Advisors LLC boosted its holdings in Boston Properties by 66.4% in the 1st quarter. Rational Advisors LLC now owns 203 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 81 shares in the last quarter. Shine Investment Advisory Services Inc. boosted its holdings in Boston Properties by 58.7% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 246 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. JOYN Advisors Inc. boosted its holdings in Boston Properties by 63.3% in the 4th quarter. JOYN Advisors Inc. now owns 276 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 107 shares in the last quarter. Loeb Partners Corp purchased a new stake in Boston Properties in the 4th quarter valued at approximately $33,000. Finally, Doyle Wealth Management purchased a new stake in Boston Properties in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 90.59% of the company’s stock.

In other news, insider Bryan J. Koop sold 5,616 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $133.95, for a total transaction of $752,263.20. Following the completion of the sale, the insider now directly owns 10,175 shares of the company’s stock, valued at approximately $1,362,941.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bryan J. Koop sold 4,121 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $134.40, for a total transaction of $553,862.40. Following the sale, the insider now directly owns 585 shares of the company’s stock, valued at $78,624. The disclosure for this sale can be found here. Insiders own 0.99% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Boston Properties from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Deutsche Bank lifted their price target on shares of Boston Properties from $134.00 to $138.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. ValuEngine downgraded shares of Boston Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Morgan Stanley downgraded shares of Boston Properties from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $130.00 to $116.00 in a research report on Wednesday, March 13th. Finally, Evercore ISI upgraded shares of Boston Properties from an “in-line” rating to an “outperform” rating and set a $131.51 price target for the company in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $136.71.

Shares of Boston Properties stock traded up $0.80 during trading on Wednesday, hitting $134.49. 12,871 shares of the company were exchanged, compared to its average volume of 700,664. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.78 and a quick ratio of 3.78. The company has a market capitalization of $21.04 billion, a P/E ratio of 21.26, a P/E/G ratio of 3.07 and a beta of 0.91. Boston Properties, Inc. has a fifty-two week low of $107.84 and a fifty-two week high of $140.35.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.06. The company had revenue of $725.80 million during the quarter, compared to the consensus estimate of $703.16 million. Boston Properties had a return on equity of 6.31% and a net margin of 18.15%. Boston Properties’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.49 EPS. As a group, research analysts expect that Boston Properties, Inc. will post 6.98 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.95 dividend. The ex-dividend date is Thursday, June 27th. This represents a $3.80 annualized dividend and a yield of 2.83%. Boston Properties’s dividend payout ratio (DPR) is presently 60.32%.

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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 is a Buy-Side Analyst?

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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