Boston Properties, Inc. (BXP) Shares Bought by Cadence Capital Management LLC
Cadence Capital Management LLC boosted its holdings in Boston Properties, Inc. (NYSE:BXP) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,917 shares of the real estate investment trust’s stock after purchasing an additional 638 shares during the quarter. Cadence Capital Management LLC’s holdings in Boston Properties were worth $1,341,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Amica Retiree Medical Trust acquired a new stake in Boston Properties in the third quarter valued at approximately $105,000. Harbour Capital Advisors LLC grew its stake in Boston Properties by 12,201.8% in the second quarter. Harbour Capital Advisors LLC now owns 13,532 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 13,422 shares during the period. NewSquare Capital LLC grew its stake in Boston Properties by 12,184.0% in the third quarter. NewSquare Capital LLC now owns 122,840 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 121,840 shares during the period. Sun Life Financial INC grew its stake in Boston Properties by 10,118.2% in the second quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock valued at $138,000 after acquiring an additional 1,113 shares during the period. Finally, Garner Asset Management Corp acquired a new stake in Boston Properties in the second quarter valued at approximately $214,000. Institutional investors and hedge funds own 95.58% of the company’s stock.
A number of equities research analysts have commented on BXP shares. KeyCorp reissued a “hold” rating on shares of Boston Properties in a research note on Friday, September 1st. SunTrust Banks reissued a “hold” rating and issued a $130.00 price objective on shares of Boston Properties in a research note on Monday, October 9th. Jefferies Group reissued a “hold” rating and issued a $124.00 price objective on shares of Boston Properties in a research note on Tuesday, October 24th. Mizuho reissued a “hold” rating and issued a $122.00 price objective on shares of Boston Properties in a research note on Friday, November 3rd. Finally, Evercore ISI reissued an “in-line” rating and issued a $133.00 price objective (up previously from $127.00) on shares of Boston Properties in a research note on Friday, October 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $133.73.
Boston Properties, Inc. (NYSE BXP) opened at $127.13 on Friday. The stock has a market capitalization of $19,618.96, a P/E ratio of 20.31, a P/E/G ratio of 3.64 and a beta of 0.63. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.92. Boston Properties, Inc. has a 1 year low of $116.77 and a 1 year high of $140.13.
Boston Properties (NYSE:BXP) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.03. The company had revenue of $657.70 million for the quarter, compared to analysts’ expectations of $649.84 million. Boston Properties had a return on equity of 6.43% and a net margin of 19.42%. Boston Properties’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 earnings per share. research analysts forecast that Boston Properties, Inc. will post 6.25 EPS for the current year.
In related news, insider Bryan J. Koop sold 5,868 shares of Boston Properties stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $124.55, for a total transaction of $730,859.40. Following the transaction, the insider now owns 585 shares of the company’s stock, valued at $72,861.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.17% of the stock is owned by insiders.
Boston Properties Company Profile
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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