Garner Asset Management Corp Purchases New Position in Boston Properties, Inc. (BXP)

Garner Asset Management Corp purchased a new stake in Boston Properties, Inc. (NYSE:BXP) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,717 shares of the real estate investment trust’s stock, valued at approximately $230,000.

Several other institutional investors have also made changes to their positions in the stock. Advisor Partners LLC boosted its holdings in Boston Properties by 10.7% in the 1st quarter. Advisor Partners LLC now owns 2,169 shares of the real estate investment trust’s stock worth $290,000 after buying an additional 210 shares during the last quarter. Brinker Capital Inc. acquired a new stake in Boston Properties in the 1st quarter worth about $334,000. Gulf International Bank UK Ltd boosted its holdings in Boston Properties by 0.5% in the 1st quarter. Gulf International Bank UK Ltd now owns 36,830 shares of the real estate investment trust’s stock worth $4,930,000 after buying an additional 200 shares during the last quarter. Daiwa SB Investments Ltd. boosted its holdings in Boston Properties by 66.6% in the 1st quarter. Daiwa SB Investments Ltd. now owns 84,993 shares of the real estate investment trust’s stock worth $11,379,000 after buying an additional 33,977 shares during the last quarter. Finally, Pennsylvania Trust Co acquired a new stake in Boston Properties in the 1st quarter worth about $1,585,000. Hedge funds and other institutional investors own 95.68% of the company’s stock.

In related news, SVP Frank D. Burt sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $133.64, for a total value of $267,280.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.99% of the company’s stock.

Several research firms recently issued reports on BXP. Evercore ISI upgraded Boston Properties from an “in-line” rating to an “outperform” rating and set a $131.51 price objective on the stock in a report on Monday, March 25th. Deutsche Bank lifted their price objective on Boston Properties from $134.00 to $138.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. Zacks Investment Research upgraded Boston Properties from a “hold” rating to a “buy” rating and set a $154.00 price objective on the stock in a report on Wednesday, April 10th. ValuEngine upgraded Boston Properties from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, Robert W. Baird upgraded Boston Properties from a “neutral” rating to an “outperform” rating and set a $142.00 target price on the stock in a report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Boston Properties presently has a consensus rating of “Hold” and a consensus price target of $135.89.

Shares of Boston Properties stock traded up $3.24 on Tuesday, hitting $134.79. 515,200 shares of the company were exchanged, compared to its average volume of 727,795. The stock has a market cap of $20.55 billion, a P/E ratio of 21.40, a P/E/G ratio of 3.06 and a beta of 0.93. Boston Properties, Inc. has a 1-year low of $107.84 and a 1-year high of $139.41. The company has a debt-to-equity ratio of 1.37, a current ratio of 4.81 and a quick ratio of 4.81.

Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, January 29th. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.68 by ($0.72). The company had revenue of $651.17 million for the quarter, compared to analyst estimates of $634.12 million. Boston Properties had a return on equity of 7.28% and a net margin of 21.45%. As a group, research analysts expect that Boston Properties, Inc. will post 6.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Thursday, March 28th. Boston Properties’s dividend payout ratio is currently 60.32%.

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

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