Boston Properties Inc. (BXP) Stake Boosted by First Trust Advisors LP
First Trust Advisors LP raised its stake in Boston Properties Inc. (NYSE:BXP) by 34.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,007 shares of the company’s stock after buying an additional 27,549 shares during the period. First Trust Advisors LP owned approximately 0.07% of Boston Properties worth $14,720,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Euclid Advisors LLC purchased a new position in shares of Boston Properties during the second quarter valued at about $138,000. Glenmede Trust Co. NA boosted its position in shares of Boston Properties by 30.9% in the second quarter. Glenmede Trust Co. NA now owns 1,189 shares of the company’s stock valued at $155,000 after buying an additional 281 shares during the period. Advisor Partners LLC purchased a new position in shares of Boston Properties during the second quarter valued at about $202,000. Pacad Investment Ltd. purchased a new position in shares of Boston Properties during the second quarter valued at about $224,000. Finally, Bailard Inc. purchased a new position in shares of Boston Properties during the second quarter valued at about $234,000. Hedge funds and other institutional investors own 94.42% of the company’s stock.
Boston Properties Inc. (NYSE:BXP) traded up 1.59% during trading on Tuesday, hitting $125.75. The company’s stock had a trading volume of 505,011 shares. The firm has a market cap of $19.34 billion, a PE ratio of 39.17 and a beta of 0.63. Boston Properties Inc. has a one year low of $107.28 and a one year high of $144.02. The company has a 50-day moving average of $122.74 and a 200 day moving average of $131.61.
Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, October 25th. The company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by $0.01. The firm had revenue of $625.23 million for the quarter, compared to analyst estimates of $621.99 million. Boston Properties had a return on equity of 6.54% and a net margin of 19.83%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.41 EPS. On average, equities analysts forecast that Boston Properties Inc. will post $5.98 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Friday, September 30th were paid a dividend of $0.65 per share. The ex-dividend date was Wednesday, September 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.11%. Boston Properties’s payout ratio is currently 81.00%.
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Several analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on Boston Properties from $133.00 to $144.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. Jefferies Group dropped their target price on Boston Properties from $141.00 to $138.00 and set a “hold” rating on the stock in a research report on Monday, August 22nd. Royal Bank Of Canada dropped their target price on Boston Properties from $155.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 27th. Bank of America Corp. cut Boston Properties from a “buy” rating to a “neutral” rating and set a $148.00 target price on the stock. in a research report on Friday, October 14th. Finally, BTIG Research assumed coverage on Boston Properties in a research report on Thursday, August 25th. They set a “neutral” rating on the stock. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $144.47.
About Boston Properties
Boston Properties, Inc is a real estate investment trust. The Company is an owner and developer of office properties in the United States. The Company’s segments by geographic area are Boston, New York, San Francisco and Washington, DC. The Company conducts its operations through Boston Properties Limited Partnership.
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