Korea Investment CORP decreased its position in Boston Properties, Inc. (NYSE:BXP) by 76.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,512 shares of the real estate investment trust’s stock after selling 28,030 shares during the period. Korea Investment CORP’s holdings in Boston Properties were worth $1,048,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Boston Properties by 1.1% in the second quarter. BlackRock Inc. now owns 15,893,856 shares of the real estate investment trust’s stock valued at $1,993,407,000 after buying an additional 169,036 shares during the period. IFM Investors Pty Ltd lifted its stake in Boston Properties by 14.0% in the third quarter. IFM Investors Pty Ltd now owns 8,333 shares of the real estate investment trust’s stock valued at $1,026,000 after buying an additional 1,022 shares during the period. Atria Investments LLC acquired a new position in Boston Properties in the third quarter valued at about $226,000. Van ECK Associates Corp acquired a new position in Boston Properties in the second quarter valued at about $4,049,000. Finally, First Hawaiian Bank acquired a new position in Boston Properties in the third quarter valued at about $296,000. Institutional investors and hedge funds own 95.74% of the company’s stock.
Several equities analysts have weighed in on the company. Barclays reissued a “buy” rating and issued a $134.00 target price on shares of Boston Properties in a research note on Tuesday, August 21st. SunTrust Banks increased their target price on Boston Properties to $137.00 and gave the company a “hold” rating in a research note on Monday, August 20th. Zacks Investment Research raised Boston Properties from a “hold” rating to a “buy” rating and set a $147.00 target price on the stock in a research note on Monday, December 3rd. DA Davidson raised Boston Properties from a “neutral” rating to a “buy” rating and increased their target price for the company from $135.00 to $145.00 in a research note on Monday, November 19th. Finally, JPMorgan Chase & Co. raised Boston Properties from a “neutral” rating to an “overweight” rating in a research note on Friday, October 5th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Boston Properties has a consensus rating of “Buy” and an average target price of $135.85.
NYSE BXP opened at $129.08 on Friday. The stock has a market cap of $20.46 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 3.47 and a beta of 0.61. 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.
Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.05. The company had revenue of $686.28 million for the quarter, compared to analyst estimates of $674.30 million. Boston Properties had a return on equity of 6.75% and a net margin of 20.18%. Boston Properties’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. Research analysts anticipate that Boston Properties, Inc. will post 6.38 earnings per share for the current fiscal year.
About Boston Properties
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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