New York State Teachers Retirement System trimmed its stake in shares of Boston Properties, Inc. (NYSE:BXP) by 7.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 216,226 shares of the real estate investment trust’s stock after selling 18,463 shares during the period. New York State Teachers Retirement System owned about 0.14% of Boston Properties worth $27,119,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Quantum Capital Management LLC NJ acquired a new stake in Boston Properties during the first quarter worth about $1,104,000. CIBC Asset Management Inc grew its holdings in Boston Properties by 1.5% during the first quarter. CIBC Asset Management Inc now owns 42,678 shares of the real estate investment trust’s stock worth $5,259,000 after acquiring an additional 649 shares during the period. JPMorgan Chase & Co. grew its holdings in Boston Properties by 9.4% during the first quarter. JPMorgan Chase & Co. now owns 4,141,991 shares of the real estate investment trust’s stock worth $510,377,000 after acquiring an additional 356,355 shares during the period. Great West Life Assurance Co. Can grew its holdings in Boston Properties by 3.1% during the first quarter. Great West Life Assurance Co. Can now owns 198,188 shares of the real estate investment trust’s stock worth $24,439,000 after acquiring an additional 5,906 shares during the period. Finally, Perpetual Ltd grew its holdings in Boston Properties by 65.8% during the second quarter. Perpetual Ltd now owns 55,950 shares of the real estate investment trust’s stock worth $7,030,000 after acquiring an additional 22,200 shares during the period. 95.84% of the stock is currently owned by hedge funds and other institutional investors.
BXP has been the topic of several analyst reports. Citigroup dropped their target price on Boston Properties from $129.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, May 2nd. ValuEngine downgraded Boston Properties from a “hold” rating to a “sell” rating in a research report on Monday, June 18th. Deutsche Bank increased their price target on Boston Properties from $133.00 to $134.00 and gave the stock a “hold” rating in a research report on Tuesday, June 26th. Jefferies Financial Group reiterated a “hold” rating and set a $118.00 price target on shares of Boston Properties in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus increased their price target on Boston Properties from $130.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. Boston Properties has an average rating of “Hold” and a consensus target price of $131.86.
In other news, insider Bryan J. Koop sold 10,560 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $124.27, for a total value of $1,312,291.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.
Shares of Boston Properties opened at $129.57 on Tuesday, Marketbeat.com reports. The company has a market cap of $19.93 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 3.62 and a beta of 0.57. The company has a current ratio of 4.02, a quick ratio of 3.14 and a debt-to-equity ratio of 1.34. Boston Properties, Inc. has a 12-month low of $111.57 and a 12-month high of $132.00.
Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.73). The business had revenue of $664.48 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.67 EPS. research analysts predict that Boston Properties, Inc. will post 6.35 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 2.47%.
Boston Properties Profile
Boston Properties is a fully integrated real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 50.3 million square feet and consisting of 167 office properties (including nine properties under construction), six residential properties (including four properties under construction), five retail properties and one hotel.
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