Pictet Asset Management Ltd. Cuts Stake in Boston Properties, Inc. (BXP)
Pictet Asset Management Ltd. lessened its position in shares of Boston Properties, Inc. (NYSE:BXP) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,139 shares of the real estate investment trust’s stock after selling 7,600 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.05% of Boston Properties worth $10,216,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in BXP. KCG Holdings Inc. raised its stake in shares of Boston Properties by 97.5% during the 1st quarter. KCG Holdings Inc. now owns 4,042 shares of the real estate investment trust’s stock worth $535,000 after buying an additional 1,995 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Boston Properties during the 1st quarter worth $200,000. Bank of Montreal Can raised its stake in shares of Boston Properties by 27.2% during the 2nd quarter. Bank of Montreal Can now owns 997,341 shares of the real estate investment trust’s stock worth $122,693,000 after buying an additional 213,023 shares during the last quarter. National Pension Service raised its stake in shares of Boston Properties by 10.3% during the 2nd quarter. National Pension Service now owns 147,429 shares of the real estate investment trust’s stock worth $18,160,000 after buying an additional 13,730 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Boston Properties by 509.1% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 24,981 shares of the real estate investment trust’s stock worth $3,073,000 after buying an additional 20,880 shares during the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.
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Several research analysts recently weighed in on BXP shares. KeyCorp reissued a “hold” rating on shares of Boston Properties in a research note on Friday, November 3rd. TheStreet raised shares of Boston Properties from a “c” rating to a “b-” rating in a research note on Tuesday, August 1st. Mizuho reissued a “hold” rating and issued a $122.00 target price on shares of Boston Properties in a research note on Friday, November 3rd. Royal Bank Of Canada downgraded shares of Boston Properties from a “top pick” rating to an “outperform” rating and cut their target price for the company from $150.00 to $140.00 in a research note on Thursday, August 17th. Finally, BidaskClub downgraded shares of Boston Properties from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $133.36.
Shares of Boston Properties, Inc. (BXP) opened at $124.19 on Wednesday. The company has a current ratio of 0.44, a quick ratio of 0.43 and a debt-to-equity ratio of 0.92. Boston Properties, Inc. has a fifty-two week low of $114.55 and a fifty-two week high of $140.13. The stock has a market capitalization of $19,048.00, a PE ratio of 19.72, a PEG ratio of 3.57 and a beta of 0.63.
Boston Properties (NYSE:BXP) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.03. Boston Properties had a return on equity of 6.43% and a net margin of 19.42%. The business had revenue of $657.70 million during the quarter, compared to analysts’ expectations of $649.84 million. During the same quarter in the previous year, the business earned $1.42 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. research analysts expect that Boston Properties, Inc. will post 6.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, September 28th. Boston Properties’s payout ratio is currently 93.75%.
Boston Properties Company Profile
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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