DnB Asset Management AS cut its position in Boston Properties, Inc. (NYSE:BXP) by 8.2% during the second quarter, Holdings Channel reports. The firm owned 15,740 shares of the real estate investment trust’s stock after selling 1,400 shares during the period. DnB Asset Management AS’s holdings in Boston Properties were worth $1,936,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in Boston Properties by 1.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,550 shares of the real estate investment trust’s stock worth $199,000 after buying an additional 15 shares during the period. Private Vista LLC raised its stake in Boston Properties by 0.6% in the first quarter. Private Vista LLC now owns 3,048 shares of the real estate investment trust’s stock worth $386,000 after buying an additional 17 shares during the period. United Asset Strategies Inc. raised its stake in Boston Properties by 1.0% in the first quarter. United Asset Strategies Inc. now owns 7,972 shares of the real estate investment trust’s stock worth $1,056,000 after buying an additional 81 shares during the period. Pacer Advisors Inc. raised its stake in Boston Properties by 3.3% in the first quarter. Pacer Advisors Inc. now owns 3,449 shares of the real estate investment trust’s stock worth $457,000 after buying an additional 110 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Boston Properties by 2.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,101 shares of the real estate investment trust’s stock worth $508,000 after buying an additional 112 shares during the period. 94.41% of the stock is owned by institutional investors and hedge funds.
Shares of Boston Properties, Inc. (NYSE:BXP) opened at 120.13 on Monday. The firm has a market cap of $18.48 billion, a P/E ratio of 44.33 and a beta of 0.65. Boston Properties, Inc. has a 52 week low of $113.69 and a 52 week high of $144.02. The stock has a 50 day moving average of $123.14 and a 200 day moving average of $129.11.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by $0.02. Boston Properties had a net margin of 16.94% and a return on equity of 5.54%. The business had revenue of $632.23 million during the quarter, compared to the consensus estimate of $637.34 million. During the same quarter last year, the company posted $1.18 EPS. The firm’s revenue was down 5.1% on a year-over-year basis. Equities analysts forecast that Boston Properties, Inc. will post $2.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Wednesday, June 28th. Boston Properties’s dividend payout ratio (DPR) is presently 111.11%.
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A number of research firms have recently issued reports on BXP. BidaskClub lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Saturday. Royal Bank of Canada reaffirmed a “buy” rating and set a $150.00 price objective on shares of Boston Properties in a research report on Wednesday, July 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $145.00 price objective on shares of Boston Properties in a research report on Wednesday, April 5th. TheStreet lowered shares of Boston Properties from a “b-” rating to a “c” rating in a research report on Wednesday, May 17th. Finally, Barclays PLC raised their price objective on shares of Boston Properties from $139.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $138.69.
About Boston Properties
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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