Tower Research Capital LLC TRC increased its position in shares of Boston Properties, Inc. (NYSE:BXP) by 225.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 800 shares of the real estate investment trust’s stock after purchasing an additional 554 shares during the period. Tower Research Capital LLC TRC’s holdings in Boston Properties were worth $74,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Quarterback LLC acquired a new stake in Boston Properties during the fourth quarter worth about $10,112,110,000. BlackRock Inc. increased its position in Boston Properties by 6.7% during the first quarter. BlackRock Inc. now owns 16,060,750 shares of the real estate investment trust’s stock worth $1,481,284,000 after purchasing an additional 1,006,869 shares during the last quarter. Norges Bank acquired a new stake in Boston Properties during the fourth quarter worth about $1,797,357,000. Wellington Management Group LLP increased its position in Boston Properties by 26.6% during the first quarter. Wellington Management Group LLP now owns 8,258,216 shares of the real estate investment trust’s stock worth $761,654,000 after purchasing an additional 1,734,994 shares during the last quarter. Finally, Invesco Ltd. increased its position in Boston Properties by 8.9% during the first quarter. Invesco Ltd. now owns 6,386,832 shares of the real estate investment trust’s stock worth $589,057,000 after purchasing an additional 523,455 shares during the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.
NYSE BXP opened at $89.67 on Wednesday. The firm has a 50 day simple moving average of $88.23 and a 200-day simple moving average of $112.90. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.59 and a current ratio of 5.59. Boston Properties, Inc. has a one year low of $71.57 and a one year high of $147.83. The firm has a market cap of $13.93 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 2.55 and a beta of 1.04.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Monday, June 29th. Boston Properties’s payout ratio is 55.92%.
In other news, EVP Bryan J. Koop purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average price of $78.00 per share, for a total transaction of $156,000.00. Following the completion of the purchase, the executive vice president now directly owns 2,585 shares of the company’s stock, valued at $201,630. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce W. Duncan purchased 11,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was purchased at an average price of $89.14 per share, with a total value of $980,540.00. The disclosure for this purchase can be found here. Insiders purchased 18,000 shares of company stock valued at $1,513,890 in the last quarter. 0.98% of the stock is owned by insiders.
Several equities research analysts recently issued reports on BXP shares. Mizuho cut their price objective on shares of Boston Properties from $152.00 to $105.00 and set a “neutral” rating for the company in a research report on Tuesday, April 28th. Morgan Stanley lowered their target price on shares of Boston Properties from $130.00 to $91.00 and set an “equal weight” rating for the company in a research note on Thursday, May 28th. JPMorgan Chase & Co. lowered their target price on shares of Boston Properties from $147.00 to $118.00 and set a “neutral” rating for the company in a research note on Tuesday, April 28th. TheStreet lowered shares of Boston Properties from a “b-” rating to a “c+” rating in a research note on Wednesday, March 25th. Finally, SunTrust Banks raised shares of Boston Properties from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Tuesday, June 9th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $123.83.
Boston Properties 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.
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