BlackRock Advisors LLC Buys 6,462 Shares of Boston Properties Inc. (BXP)
BlackRock Advisors LLC increased its position in Boston Properties Inc. (NYSE:BXP) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,791 shares of the company’s stock after buying an additional 6,462 shares during the period. BlackRock Advisors LLC owned about 0.19% of Boston Properties worth $37,564,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in Boston Properties by 0.7% in the first quarter. Franklin Resources Inc. now owns 344,042 shares of the company’s stock worth $43,720,000 after buying an additional 2,400 shares in the last quarter. Prudential Financial Inc. increased its stake in Boston Properties by 7.8% in the first quarter. Prudential Financial Inc. now owns 207,875 shares of the company’s stock worth $26,417,000 after buying an additional 15,050 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Boston Properties by 12.9% in the first quarter. TIAA CREF Investment Management LLC now owns 938,225 shares of the company’s stock worth $119,230,000 after buying an additional 107,084 shares in the last quarter. Ngam Advisors L.P. increased its stake in Boston Properties by 3.6% in the first quarter. Ngam Advisors L.P. now owns 99,768 shares of the company’s stock worth $12,679,000 after buying an additional 3,451 shares in the last quarter. Finally, CIBC World Markets Inc. increased its stake in Boston Properties by 30.7% in the first quarter. CIBC World Markets Inc. now owns 16,524 shares of the company’s stock worth $2,100,000 after buying an additional 3,879 shares in the last quarter. 95.57% of the stock is currently owned by institutional investors.
Shares of Boston Properties Inc. (NYSE:BXP) opened at 135.32 on Wednesday. The firm has a market capitalization of $20.80 billion, a PE ratio of 34.70 and a beta of 0.76. The company has a 50 day moving average price of $140.29 and a 200-day moving average price of $132.01. Boston Properties Inc. has a 12 month low of $107.28 and a 12 month high of $144.02.
Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, July 26th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.04. Boston Properties had a return on equity of 7.89% and a net margin of 24.01%. The business had revenue of $623.50 million for the quarter, compared to analyst estimates of $612.38 million. During the same period in the previous year, the company earned $1.36 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts expect that Boston Properties Inc. will post $5.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, September 28th. Boston Properties’s dividend payout ratio is currently 66.50%.
A number of research firms have commented on BXP. Morgan Stanley downgraded Boston Properties from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $140.00 to $145.00 in a research report on Monday, July 25th. Zacks Investment Research upgraded Boston Properties from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a research report on Monday, June 20th. Mizuho lifted their target price on Boston Properties from $125.00 to $131.00 and gave the company a “neutral” rating in a research report on Thursday, July 28th. Jefferies Group reduced their target price on Boston Properties from $141.00 to $138.00 and set a “hold” rating on the stock in a research report on Monday, August 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Boston Properties from $133.00 to $144.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $144.91.
In related news, insider Peter D. Johnston sold 7,111 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $143.25, for a total value of $1,018,650.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Martin Turchin sold 1,504 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $140.31, for a total value of $211,026.24. Following the completion of the sale, the director now directly owns 2,857 shares of the company’s stock, valued at $400,865.67. The disclosure for this sale can be found here. 6.17% of the stock is owned by corporate insiders.
Boston Properties Company Profile
Boston Properties, Inc is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company is engaged in owning and developing office properties in the United States. The Company’s properties are concentrated in four markets: Boston, New York, San Francisco and Washington, DC.
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