Great West Life Assurance Co. Can Lowers Position in Boston Properties, Inc. (BXP)
Great West Life Assurance Co. Can cut its position in shares of Boston Properties, Inc. (NYSE:BXP) by 1.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 187,831 shares of the real estate investment trust’s stock after selling 3,692 shares during the period. Great West Life Assurance Co. Can owned 0.12% of Boston Properties worth $23,090,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Glen Harbor Capital Management LLC boosted its position in shares of Boston Properties by 13.0% in the first quarter. Glen Harbor Capital Management LLC now owns 8,840 shares of the real estate investment trust’s stock worth $1,170,000 after buying an additional 1,020 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in Boston Properties during the first quarter valued at $502,000. Mn Services Vermogensbeheer B.V. raised its stake in Boston Properties by 2.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,101 shares of the real estate investment trust’s stock valued at $508,000 after buying an additional 112 shares during the period. Candriam Luxembourg S.C.A. raised its stake in Boston Properties by 27.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 11,772 shares of the real estate investment trust’s stock valued at $1,559,000 after buying an additional 2,523 shares during the period. Finally, Motco raised its stake in Boston Properties by 5.7% in the first quarter. Motco now owns 3,583 shares of the real estate investment trust’s stock valued at $474,000 after buying an additional 193 shares during the period. 93.80% of the stock is currently owned by hedge funds and other institutional investors.
Boston Properties, Inc. (NYSE:BXP) traded down 0.68% on Wednesday, reaching $121.60. 130,382 shares of the company were exchanged. The company’s 50-day moving average price is $121.30 and its 200-day moving average price is $127.54. The stock has a market capitalization of $18.76 billion, a P/E ratio of 41.22 and a beta of 0.64. Boston Properties, Inc. has a 12-month low of $113.69 and a 12-month high of $143.65.
Boston Properties (NYSE:BXP) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.05. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The firm had revenue of $656.90 million for the quarter, compared to the consensus estimate of $645.96 million. During the same quarter in the prior year, the company posted $1.44 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. Equities research analysts anticipate that Boston Properties, Inc. will post $2.78 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $3.00 annualized dividend and a yield of 2.45%. Boston Properties’s payout ratio is 102.04%.
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A number of brokerages recently commented on BXP. BidaskClub upgraded shares of Boston Properties from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Evercore ISI restated an “in-line” rating and set a $133.00 price objective (down from $138.00) on shares of Boston Properties in a report on Friday, April 28th. Barclays PLC raised their price objective on shares of Boston Properties from $139.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $127.00 price objective on shares of Boston Properties in a report on Thursday, June 22nd. Finally, TheStreet upgraded shares of Boston Properties from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Boston Properties has an average rating of “Hold” and a consensus price target of $135.64.
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. Its segments by geographic area are Boston, New York, San Francisco and Washington, DC. Its segments by property type include Office, Residential and Hotel. As of December 31, 2016, the Company owned or had interests in 174 commercial real estate properties, aggregating approximately 47.7 million net rentable square feet of primarily Class A office properties, including eight properties under construction/redevelopment totaling approximately 4.0 million net rentable square feet.
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