First Trust Advisors LP cut its stake in Boston Properties, Inc. (NYSE:BXP) by 11.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,421 shares of the real estate investment trust’s stock after selling 5,823 shares during the period. First Trust Advisors LP’s holdings in Boston Properties were worth $5,588,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. increased its position in shares of Boston Properties by 45.7% in the first quarter. American Century Companies Inc. now owns 1,213,152 shares of the real estate investment trust’s stock valued at $160,633,000 after buying an additional 380,500 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Boston Properties by 2.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 235,854 shares of the real estate investment trust’s stock valued at $31,229,000 after buying an additional 6,456 shares in the last quarter. Eqis Capital Management Inc. increased its position in shares of Boston Properties by 25.1% in the first quarter. Eqis Capital Management Inc. now owns 7,092 shares of the real estate investment trust’s stock valued at $939,000 after buying an additional 1,423 shares in the last quarter. Tyers Asset Management LLC increased its position in shares of Boston Properties by 13.0% in the first quarter. Tyers Asset Management LLC now owns 4,160 shares of the real estate investment trust’s stock valued at $551,000 after buying an additional 480 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its stake in Boston Properties by 0.4% in the first quarter. State Treasurer State of Michigan now owns 50,528 shares of the real estate investment trust’s stock worth $6,690,000 after buying an additional 200 shares in the last quarter. 94.74% of the stock is currently owned by institutional investors.

Shares of Boston Properties, Inc. (NYSE BXP) opened at 120.19 on Thursday. The firm has a market cap of $18.55 billion, a price-to-earnings ratio of 40.74 and a beta of 0.64. The company has a 50-day moving average price of $120.83 and a 200 day moving average price of $127.03. Boston Properties, Inc. has a 52 week low of $113.69 and a 52 week high of $143.65.

Boston Properties (NYSE:BXP) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.05. The firm had revenue of $656.90 million for the quarter, compared to analysts’ expectations of $645.96 million. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Analysts expect that Boston Properties, Inc. will post $2.78 EPS for the current fiscal year.

WARNING: This story was originally posted by Watch List News and is the property of of Watch List News. If you are reading this story on another site, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.watchlistnews.com/boston-properties-inc-bxp-stake-reduced-by-first-trust-advisors-lp/1533074.html.

A number of research firms have recently issued reports on BXP. BidaskClub upgraded Boston Properties from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $127.00 price objective on shares of Boston Properties in a research report on Thursday, June 22nd. Royal Bank Of Canada restated a “buy” rating and set a $150.00 price objective on shares of Boston Properties in a research report on Wednesday, July 5th. TheStreet upgraded Boston Properties from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. Finally, Jefferies Group LLC restated a “hold” rating and set a $121.00 price objective on shares of Boston Properties in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $134.73.

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.

Institutional Ownership by Quarter for Boston Properties (NYSE:BXP)

Receive News & Ratings for Boston Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Properties Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.