Alliancebernstein L.P. lifted its stake in shares of Boston Properties, Inc. (NYSE:BXP) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 341,559 shares of the real estate investment trust’s stock after purchasing an additional 11,585 shares during the period. Alliancebernstein L.P. owned 0.22% of Boston Properties worth $42,042,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in BXP. Resolution Capital Ltd raised its stake in shares of Boston Properties by 317.1% during the 3rd quarter. Resolution Capital Ltd now owns 5,064,847 shares of the real estate investment trust’s stock worth $79,619,000 after purchasing an additional 3,850,404 shares in the last quarter. Heitman Real Estate Securities LLC raised its stake in shares of Boston Properties by 418.3% during the 2nd quarter. Heitman Real Estate Securities LLC now owns 583,675 shares of the real estate investment trust’s stock worth $78,922,000 after purchasing an additional 471,065 shares in the last quarter. Centersquare Investment Management LLC raised its stake in shares of Boston Properties by 21.1% during the 2nd quarter. Centersquare Investment Management LLC now owns 2,540,552 shares of the real estate investment trust’s stock worth $318,636,000 after purchasing an additional 443,338 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Boston Properties by 8.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,274,888 shares of the real estate investment trust’s stock worth $526,197,000 after purchasing an additional 326,351 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Boston Properties by 330.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 319,795 shares of the real estate investment trust’s stock worth $40,109,000 after acquiring an additional 245,500 shares during the last quarter. Institutional investors own 96.30% of the company’s stock.
A number of research firms recently weighed in on BXP. TheStreet raised Boston Properties from a “c+” rating to a “b-” rating in a report on Friday, August 3rd. Stifel Nicolaus boosted their target price on Boston Properties from $130.00 to $135.00 and gave the stock a “hold” rating in a report on Thursday, August 2nd. Barclays reissued a “buy” rating and set a $134.00 target price on shares of Boston Properties in a report on Tuesday, August 21st. Zacks Investment Research raised Boston Properties from a “hold” rating to a “buy” rating and set a $141.00 target price on the stock in a report on Monday. Finally, Jefferies Financial Group raised Boston Properties from a “hold” rating to a “buy” rating and set a $139.00 target price on the stock in a report on Monday, October 15th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Boston Properties currently has a consensus rating of “Buy” and an average price target of $135.38.
Shares of NYSE BXP opened at $129.82 on Friday. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 1.36. Boston Properties, Inc. has a one year low of $111.57 and a one year high of $132.82. The firm has a market capitalization of $19.63 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 3.32 and a beta of 0.57.
Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Boston Properties had a return on equity of 6.75% and a net margin of 20.18%. The firm had revenue of $686.28 million for the quarter, compared to analyst estimates of $674.30 million. During the same period in the prior year, the firm posted $0.76 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts forecast that Boston Properties, Inc. will post 6.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Thursday, September 27th.
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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.
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