Wells Fargo & Company MN Purchases 40,567 Shares of Boston Properties, Inc. (BXP)
Wells Fargo & Company MN lifted its position in shares of Boston Properties, Inc. (NYSE:BXP) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,357 shares of the real estate investment trust’s stock after buying an additional 40,567 shares during the period. Wells Fargo & Company MN owned about 0.20% of Boston Properties worth $37,768,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Amica Retiree Medical Trust bought a new stake in Boston Properties in the third quarter valued at approximately $105,000. NewSquare Capital LLC raised its stake in Boston Properties by 12,184.0% in the third quarter. NewSquare Capital LLC now owns 122,840 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 121,840 shares during the period. Sun Life Financial INC raised its stake in Boston Properties by 10,118.2% in the second quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 1,113 shares during the period. Garner Asset Management Corp bought a new stake in Boston Properties in the second quarter valued at approximately $214,000. Finally, Timber Hill LLC bought a new stake in Boston Properties in the third quarter valued at approximately $232,000. 95.57% of the stock is owned by institutional investors.
Several research firms have issued reports on BXP. Royal Bank of Canada set a $140.00 price objective on Boston Properties and gave the company a “buy” rating in a research note on Monday, November 27th. Argus lowered their target price on Boston Properties to $140.00 and set a “buy” rating on the stock in a research note on Thursday, November 16th. KeyCorp reiterated a “hold” rating on shares of Boston Properties in a research note on Friday, November 3rd. Mizuho reiterated a “hold” rating and set a $122.00 target price on shares of Boston Properties in a research note on Friday, November 3rd. Finally, Jefferies Group reiterated a “hold” rating and set a $124.00 target price on shares of Boston Properties in a research note on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $132.80.
Boston Properties (NYSE:BXP) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $657.70 million for the quarter, compared to the consensus estimate of $649.84 million. During the same quarter last year, the business posted $1.42 EPS. Boston Properties’s revenue for the quarter was up 5.2% on a year-over-year basis. research analysts forecast that Boston Properties, Inc. will post 6.25 earnings per share for the current year.
In other news, insider Bryan J. Koop sold 5,868 shares of Boston Properties stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $124.55, for a total value of $730,859.40. Following the completion of the transaction, the insider now directly owns 585 shares of the company’s stock, valued at approximately $72,861.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.86% of the stock is owned by company insiders.
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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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