Assetmark Inc. Sells 50,523 Shares of Boston Properties, Inc. (BXP)
Assetmark Inc. decreased its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 81.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,533 shares of the real estate investment trust’s stock after selling 50,523 shares during the quarter. Assetmark Inc.’s holdings in Boston Properties were worth $1,417,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of BXP. Stephens Inc. AR lifted its holdings in Boston Properties by 1.7% in the 3rd quarter. Stephens Inc. AR now owns 29,551 shares of the real estate investment trust’s stock worth $3,631,000 after buying an additional 489 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Boston Properties by 59.2% in the 3rd quarter. Macquarie Group Ltd. now owns 290,901 shares of the real estate investment trust’s stock worth $35,746,000 after buying an additional 108,136 shares in the last quarter. NewSquare Capital LLC lifted its holdings in Boston Properties by 12,184.0% in the 3rd quarter. NewSquare Capital LLC now owns 122,840 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 121,840 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Boston Properties by 173.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 621,030 shares of the real estate investment trust’s stock worth $76,326,000 after buying an additional 393,612 shares in the last quarter. Finally, Timber Hill LLC acquired a new position in Boston Properties in the 3rd quarter worth $232,000. Institutional investors and hedge funds own 94.70% of the company’s stock.
In other news, insider Bryan J. Koop sold 5,868 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $124.55, for a total value of $730,859.40. Following the sale, the insider now owns 585 shares in the company, valued at approximately $72,861.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.17% of the company’s stock.
A number of equities analysts have commented on the stock. Argus cut their price objective on shares of Boston Properties to $140.00 and set a “buy” rating on the stock in a report on Thursday, November 16th. KeyCorp reiterated a “hold” rating on shares of Boston Properties in a report on Friday, November 3rd. Mizuho reiterated a “hold” rating and issued a $122.00 price objective on shares of Boston Properties in a report on Friday, November 3rd. Jefferies Group LLC reiterated a “hold” rating and issued a $124.00 price objective on shares of Boston Properties in a report on Tuesday, October 24th. Finally, SunTrust Banks, Inc. restated a “hold” rating and issued a $130.00 target price on shares of Boston Properties in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $133.92.
Shares of Boston Properties, Inc. (NYSE:BXP) opened at $125.00 on Friday. The stock has a market cap of $19,290.29, a PE ratio of 19.97, a PEG ratio of 3.58 and a beta of 0.63. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.44 and a quick ratio of 0.44. Boston Properties, Inc. has a 12 month low of $116.77 and a 12 month high of $140.13.
Boston Properties (NYSE:BXP) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.03. The business had revenue of $657.70 million for the quarter, compared to analyst estimates of $649.84 million. Boston Properties had a net margin of 19.42% and a return on equity of 6.43%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 EPS. sell-side analysts forecast that Boston Properties, Inc. will post 6.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were paid a $0.75 dividend. The ex-dividend date was Thursday, September 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.40%. Boston Properties’s dividend payout ratio (DPR) is presently 93.75%.
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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