Canada Pension Plan Investment Board Raises Position in Boston Properties, Inc. (NYSE:BXP)
Canada Pension Plan Investment Board boosted its stake in shares of Boston Properties, Inc. (NYSE:BXP) by 62.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 480,595 shares of the real estate investment trust’s stock after buying an additional 185,000 shares during the period. Canada Pension Plan Investment Board’s holdings in Boston Properties were worth $59,123,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of BXP. Harbour Capital Advisors LLC raised 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 buying an additional 13,422 shares during the period. Jane Street Group LLC purchased a new stake in Boston Properties during the first quarter valued at $200,000. Atria Investments LLC purchased a new stake in Boston Properties during the first quarter valued at $224,000. Raymond James Trust N.A. purchased a new stake in Boston Properties during the first quarter valued at $232,000. Finally, Parametrica Management Ltd purchased a new stake in Boston Properties during the second quarter valued at $252,000. 94.52% of the stock is currently owned by institutional investors.
Shares of Boston Properties, Inc. (BXP) opened at 121.27 on Friday. The firm has a market cap of $18.71 billion, a price-to-earnings ratio of 41.11 and a beta of 0.64. The company’s 50 day moving average price is $121.62 and its 200-day moving average price is $127.79. Boston Properties, Inc. has a 1-year low of $113.69 and a 1-year high of $143.94.
Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.05. The business had revenue of $656.90 million for the quarter, compared to analysts’ expectations of $645.96 million. Boston Properties had a return on equity of 5.98% and a net margin of 18.18%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.44 EPS. Equities analysts expect that Boston Properties, Inc. will post $2.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, June 30th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Wednesday, June 28th. Boston Properties’s payout ratio is 102.04%.
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BXP has been the topic of several research reports. TheStreet raised Boston Properties from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. Royal Bank Of Canada reissued a “buy” rating and issued a $150.00 target price on shares of Boston Properties in a report on Wednesday, July 5th. BidaskClub raised Boston Properties from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Jefferies Group LLC reissued a “hold” rating and issued a $121.00 target price on shares of Boston Properties in a report on Friday, July 14th. Finally, Evercore ISI reissued an “in-line” rating and issued a $133.00 target price (down previously from $138.00) on shares of Boston Properties in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Boston Properties presently has an average rating of “Hold” and a consensus price target of $136.33.
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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