Rafferty Asset Management LLC lessened its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 9.4% in the third quarter, HoldingsChannel.com reports. The fund owned 42,212 shares of the real estate investment trust’s stock after selling 4,362 shares during the period. Rafferty Asset Management LLC’s holdings in Boston Properties were worth $5,196,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in BXP. BlackRock Inc. lifted its holdings in shares of Boston Properties by 1.1% in the second quarter. BlackRock Inc. now owns 15,893,856 shares of the real estate investment trust’s stock valued at $1,993,407,000 after buying an additional 169,036 shares during the period. Resolution Capital Ltd lifted its holdings in shares of Boston Properties by 317.1% in the third quarter. Resolution Capital Ltd now owns 5,064,847 shares of the real estate investment trust’s stock valued at $79,619,000 after buying an additional 3,850,404 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Boston Properties by 8.3% in the third quarter. JPMorgan Chase & Co. now owns 4,274,888 shares of the real estate investment trust’s stock valued at $526,197,000 after buying an additional 326,351 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Boston Properties by 22.5% in the second quarter. Daiwa Securities Group Inc. now owns 3,891,935 shares of the real estate investment trust’s stock valued at $488,127,000 after buying an additional 715,086 shares during the period. Finally, Centersquare Investment Management LLC lifted its holdings in shares of Boston Properties by 21.1% in the second quarter. Centersquare Investment Management LLC now owns 2,540,552 shares of the real estate investment trust’s stock valued at $318,636,000 after buying an additional 443,338 shares during the period. Institutional investors own 96.30% of the company’s stock.
Several brokerages have recently weighed in on BXP. TheStreet upgraded Boston Properties from a “c+” rating to a “b-” rating in a report on Friday, August 3rd. Stifel Nicolaus upped their price objective on Boston Properties from $130.00 to $135.00 and gave the company a “hold” rating in a report on Thursday, August 2nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $118.00 target price on shares of Boston Properties in a research report on Wednesday, August 1st. Barclays reaffirmed a “buy” rating and set a $134.00 target price on shares of Boston Properties in a research report on Tuesday, August 21st. Finally, SunTrust Banks boosted their target price on Boston Properties to $137.00 and gave the stock a “hold” rating in a research report on Monday, August 20th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $135.86.
Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The company had revenue of $686.28 million for the quarter, compared to analyst estimates of $674.30 million. Boston Properties had a return on equity of 6.75% and a net margin of 20.18%. Boston Properties’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 earnings per share. Equities research analysts predict that Boston Properties, Inc. will post 6.39 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Thursday, September 27th.
Boston Properties Profile
Boston Properties (NYSE: BXP) is one of the largest publicly-held developers and owners of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.
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