Prudential Financial Inc. Has $58.41 Million Stake in Boston Properties, Inc. (BXP)
Prudential Financial Inc. lowered its stake in Boston Properties, Inc. (NYSE:BXP) by 8.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 474,796 shares of the real estate investment trust’s stock after selling 45,266 shares during the period. Prudential Financial Inc. owned approximately 0.31% of Boston Properties worth $58,409,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in Boston Properties during the first quarter valued at about $200,000. Parametrica Management Ltd purchased a new position in Boston Properties during the second quarter valued at about $252,000. Advisor Partners LLC boosted its position in Boston Properties by 12.9% in the first quarter. Advisor Partners LLC now owns 2,204 shares of the real estate investment trust’s stock valued at $292,000 after buying an additional 252 shares in the last quarter. FDO Partners LLC purchased a new position in Boston Properties during the first quarter valued at about $324,000. Finally, Amica Retiree Medical Trust purchased a new position in Boston Properties during the first quarter valued at about $377,000. 94.74% of the stock is owned by hedge funds and other institutional investors.
Boston Properties, Inc. (NYSE BXP) opened at 120.25 on Tuesday. The stock has a market capitalization of $18.56 billion, a PE ratio of 40.76 and a beta of 0.64. Boston Properties, Inc. has a 52 week low of $113.69 and a 52 week high of $143.65. The stock’s 50 day moving average is $120.83 and its 200-day moving average is $127.03.
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, beating the consensus estimate of $1.62 by $0.05. The company had revenue of $656.90 million for the quarter, compared to analyst estimates of $645.96 million. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. Equities research analysts forecast that Boston Properties, Inc. will post $2.78 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, June 30th were given a $0.75 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.49%. Boston Properties’s dividend payout ratio is 102.04%.
Several research firms recently issued reports on BXP. TheStreet raised shares of Boston Properties from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. Royal Bank Of Canada cut shares of Boston Properties from a “top pick” rating to an “outperform” rating and cut their price target for the stock from $150.00 to $140.00 in a report on Thursday, August 17th. BidaskClub raised shares of Boston Properties from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $127.00 price target on shares of Boston Properties in a report on Thursday, June 22nd. Finally, Zacks Investment Research cut shares of Boston Properties from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Two 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’s stock. Boston Properties has a consensus rating of “Hold” and a consensus target price of $134.73.
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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