Barings LLC boosted its position in shares of Boston Properties, Inc. (NYSE:BXP) by 12.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 521,524 shares of the real estate investment trust’s stock after acquiring an additional 57,288 shares during the period. Boston Properties accounts for about 1.6% of Barings LLC’s investment portfolio, making the stock its 11th largest position. Barings LLC owned about 0.34% of Boston Properties worth $69,822,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BXP. BlackRock Inc. raised its holdings in Boston Properties by 1.7% in the fourth quarter. BlackRock Inc. now owns 16,120,682 shares of the real estate investment trust’s stock worth $1,814,382,000 after purchasing an additional 274,895 shares in the last quarter. Norges Bank purchased a new stake in shares of Boston Properties during the fourth quarter worth about $1,196,899,000. FMR LLC grew its stake in shares of Boston Properties by 2.1% during the fourth quarter. FMR LLC now owns 6,993,478 shares of the real estate investment trust’s stock worth $787,116,000 after acquiring an additional 142,799 shares during the last quarter. Northern Trust Corp grew its stake in shares of Boston Properties by 4.2% during the fourth quarter. Northern Trust Corp now owns 2,572,873 shares of the real estate investment trust’s stock worth $289,577,000 after acquiring an additional 102,918 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Boston Properties by 8.3% during the fourth quarter. Geode Capital Management LLC now owns 2,437,060 shares of the real estate investment trust’s stock worth $273,894,000 after acquiring an additional 186,025 shares during the last quarter. Institutional investors own 90.59% of the company’s stock.
In other Boston Properties news, insider Bryan J. Koop sold 4,121 shares of Boston Properties stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $134.40, for a total transaction of $553,862.40. Following the transaction, the insider now owns 585 shares of the company’s stock, valued at $78,624. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Bryan J. Koop sold 5,616 shares of Boston Properties stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $133.95, for a total value of $752,263.20. Following the transaction, the insider now directly owns 10,175 shares in the company, valued at approximately $1,362,941.25. The disclosure for this sale can be found here. 0.99% of the stock is owned by company insiders.
A number of equities research analysts have recently weighed in on the company. Deutsche Bank boosted their price target on Boston Properties from $134.00 to $138.00 and gave the stock a “hold” rating in a research note on Wednesday, April 10th. Zacks Investment Research lowered Boston Properties from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. Morgan Stanley lowered Boston Properties from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $130.00 to $116.00 in a research report on Wednesday, March 13th. ValuEngine lowered Boston Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Evercore ISI upgraded Boston Properties from an “in-line” rating to an “outperform” rating and set a $131.51 price objective on the stock in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $136.71.
Shares of NYSE BXP traded down $0.02 during mid-day trading on Friday, reaching $135.20. 483,800 shares of the company’s stock were exchanged, compared to its average volume of 694,869. Boston Properties, Inc. has a 52-week low of $107.84 and a 52-week high of $140.35. The stock has a market cap of $20.75 billion, a PE ratio of 21.46, a P/E/G ratio of 3.02 and a beta of 0.91. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 1.38.
Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.06. The company had revenue of $725.80 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business posted $1.49 EPS. Research analysts predict that Boston Properties, Inc. will post 6.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Thursday, June 27th. Boston Properties’s dividend payout ratio is currently 60.32%.
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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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