JPMorgan Chase & Co. lowered its stake in Boston Properties, Inc. (NYSE:BXP) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,817,740 shares of the real estate investment trust’s stock after selling 124,749 shares during the period. JPMorgan Chase & Co. owned approximately 2.48% of Boston Properties worth $469,660,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI increased its stake in Boston Properties by 143.6% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 3,987 shares of the real estate investment trust’s stock worth $528,000 after buying an additional 2,350 shares during the period. Tyers Asset Management LLC increased its stake in Boston Properties by 13.0% in the first quarter. Tyers Asset Management LLC now owns 4,160 shares of the real estate investment trust’s stock worth $551,000 after buying an additional 480 shares during the period. Eqis Capital Management Inc. increased its stake in Boston Properties by 25.1% in the first quarter. Eqis Capital Management Inc. now owns 7,092 shares of the real estate investment trust’s stock worth $939,000 after buying an additional 1,423 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Boston Properties by 2.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 235,854 shares of the real estate investment trust’s stock worth $31,229,000 after buying an additional 6,456 shares during the period. Finally, American Century Companies Inc. increased its stake in Boston Properties by 45.7% in the first quarter. American Century Companies Inc. now owns 1,213,152 shares of the real estate investment trust’s stock worth $160,633,000 after buying an additional 380,500 shares during the period. Institutional investors and hedge funds own 94.74% of the company’s stock.

Shares of Boston Properties, Inc. (NYSE:BXP) opened at 121.30 on Friday. The firm has a market cap of $18.72 billion, a P/E ratio of 41.12 and a beta of 0.64. Boston Properties, Inc. has a 12 month low of $113.69 and a 12 month high of $143.30. The firm has a 50-day moving average of $121.01 and a 200 day moving average of $126.59.

Boston Properties (NYSE:BXP) last posted its earnings results 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 return on equity of 5.98% and a net margin of 18.18%. The firm had revenue of $656.90 million during the quarter, compared to analyst estimates of $645.96 million. During the same period in the previous year, the company earned $1.44 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Boston Properties, Inc. will post $2.78 EPS for the current fiscal year.

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BXP has been the subject of a number of research analyst reports. BidaskClub raised shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $127.00 target price on shares of Boston Properties in a research report on Thursday, June 22nd. KeyCorp reissued a “hold” rating on shares of Boston Properties in a research report on Friday. TheStreet raised shares of Boston Properties from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $121.00 target price on shares of Boston Properties in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $134.55.

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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Institutional Ownership by Quarter for Boston Properties (NYSE:BXP)

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