Standard Life Aberdeen plc lowered its stake in Boston Properties, Inc. (NYSE:BXP) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 248,626 shares of the real estate investment trust’s stock after selling 10,253 shares during the period. Standard Life Aberdeen plc owned 0.16% of Boston Properties worth $34,275,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of BXP. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Boston Properties by 11.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,557 shares of the real estate investment trust’s stock valued at $214,000 after purchasing an additional 154 shares during the last quarter. Point72 Hong Kong Ltd raised its holdings in shares of Boston Properties by 267.8% in the 4th quarter. Point72 Hong Kong Ltd now owns 5,517 shares of the real estate investment trust’s stock valued at $761,000 after buying an additional 4,017 shares during the period. Captrust Financial Advisors acquired a new position in Boston Properties during the 4th quarter worth about $234,000. First Republic Investment Management Inc. lifted its stake in Boston Properties by 0.4% during the 4th quarter. First Republic Investment Management Inc. now owns 47,360 shares of the real estate investment trust’s stock worth $6,529,000 after acquiring an additional 197 shares in the last quarter. Finally, Ellington Management Group LLC acquired a new position in Boston Properties during the 4th quarter worth about $717,000. 97.21% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on BXP shares. JPMorgan Chase & Co. cut Boston Properties from an “overweight” rating to a “neutral” rating and set a $145.00 price objective for the company. in a research note on Wednesday, December 18th. Mizuho started coverage on Boston Properties in a report on Monday, February 3rd. They issued a “neutral” rating and a $152.00 price target for the company. Robert W. Baird upped their price objective on Boston Properties from $152.00 to $157.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Stifel Nicolaus raised Boston Properties from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Monday, March 9th. Finally, Morgan Stanley lifted their price objective on Boston Properties from $126.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $147.25.
Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, January 28th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.94). The business had revenue of $706.35 million for the quarter, compared to analysts’ expectations of $697.15 million. Boston Properties had a return on equity of 6.64% and a net margin of 17.62%. During the same period in the prior year, the company earned $0.96 EPS. As a group, sell-side analysts anticipate that Boston Properties, Inc. will post 7.49 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Monday, March 30th. Boston Properties’s dividend payout ratio (DPR) is 55.92%.
In other Boston Properties news, President Douglas T. Linde sold 27,455 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $144.67, for a total transaction of $3,971,914.85. Following the completion of the sale, the president now owns 208,947 shares in the company, valued at approximately $30,228,362.49. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Raymond A. Ritchey sold 4,889 shares of Boston Properties stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $142.64, for a total value of $697,366.96. The disclosure for this sale can be found here. Insiders have sold a total of 88,250 shares of company stock worth $12,626,628 in the last ninety days. 0.99% of the stock is currently owned by insiders.
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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