Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 9.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,900 shares of the real estate investment trust’s stock after selling 1,500 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Boston Properties were worth $1,834,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BXP. Resolution Capital Ltd grew its stake in Boston Properties by 317.1% during the third quarter. Resolution Capital Ltd now owns 5,064,847 shares of the real estate investment trust’s stock worth $79,619,000 after buying an additional 3,850,404 shares during the period. Daiwa Securities Group Inc. grew its stake in Boston Properties by 22.5% during the second quarter. Daiwa Securities Group Inc. now owns 3,891,935 shares of the real estate investment trust’s stock worth $488,127,000 after buying an additional 715,086 shares during the period. Heitman Real Estate Securities LLC grew its stake in Boston Properties by 418.3% during the second quarter. Heitman Real Estate Securities LLC now owns 583,675 shares of the real estate investment trust’s stock worth $78,922,000 after buying an additional 471,065 shares during the period. Centersquare Investment Management LLC grew its stake in Boston Properties by 21.1% during the second quarter. Centersquare Investment Management LLC now owns 2,540,552 shares of the real estate investment trust’s stock worth $318,636,000 after buying an additional 443,338 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Boston Properties by 8.3% during the third quarter. JPMorgan Chase & Co. now owns 4,274,888 shares of the real estate investment trust’s stock worth $526,197,000 after buying an additional 326,351 shares during the period. Institutional investors own 96.30% of the company’s stock.
Several equities research analysts have issued reports on the stock. SunTrust Banks decreased their price objective on shares of Boston Properties from $137.00 to $135.00 and set a “hold” rating for the company in a research note on Sunday. Zacks Investment Research downgraded shares of Boston Properties from a “buy” rating to a “hold” rating in a research note on Thursday. DA Davidson raised shares of Boston Properties from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $135.00 to $145.00 in a research report on Monday, November 19th. Scotiabank assumed coverage on shares of Boston Properties in a research report on Tuesday, October 16th. They set a “sector perform” rating on the stock. Finally, Jefferies Financial Group raised shares of Boston Properties from a “hold” rating to a “buy” rating and set a $139.00 target price on the stock in a research report on Monday, October 15th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $135.71.
Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Boston Properties had a net margin of 20.18% and a return on equity of 6.75%. The business had revenue of $686.28 million for the quarter, compared to analysts’ expectations of $674.30 million. During the same period in the previous year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Boston Properties, Inc. will post 6.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $3.20 annualized dividend and a yield of 2.55%.
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Boston Properties Company 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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