Westpac Banking Corp lowered its stake in Boston Properties, Inc. (NYSE:BXP) by 19.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 257,897 shares of the real estate investment trust’s stock after selling 62,248 shares during the quarter. Westpac Banking Corp’s holdings in Boston Properties were worth $33,269,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Boston Properties by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 2,437,060 shares of the real estate investment trust’s stock worth $273,894,000 after purchasing an additional 186,025 shares during the period. Virtu Financial LLC bought a new stake in shares of Boston Properties during the first quarter valued at about $1,467,000. Louisiana State Employees Retirement System increased its position in shares of Boston Properties by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the real estate investment trust’s stock valued at $1,098,000 after buying an additional 100 shares during the period. Retirement Systems of Alabama increased its position in shares of Boston Properties by 1.0% during the first quarter. Retirement Systems of Alabama now owns 71,946 shares of the real estate investment trust’s stock valued at $9,632,000 after buying an additional 734 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Boston Properties during the first quarter valued at about $599,000. Institutional investors own 90.69% of the company’s stock.

BXP has been the topic of several analyst reports. Morgan Stanley upped their price target on Boston Properties from $116.00 to $123.00 and gave the company an “underweight” rating in a research report on Monday, June 17th. Zacks Investment Research cut Boston Properties from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $137.50.

In other Boston Properties news, insider Bryan J. Koop sold 5,616 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $133.95, for a total value of $752,263.20. Following the completion of the sale, the insider now owns 10,175 shares of the company’s stock, valued at $1,362,941.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bryan J. Koop sold 4,121 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $134.40, for a total value of $553,862.40. Following the completion of the sale, the insider now directly owns 585 shares of the company’s stock, valued at approximately $78,624. The disclosure for this sale can be found here. 0.99% of the stock is owned by corporate insiders.

BXP traded up $0.77 during midday trading on Tuesday, hitting $127.64. The stock had a trading volume of 22,294 shares, compared to its average volume of 617,728. The stock has a market capitalization of $19.99 billion, a P/E ratio of 20.27, a P/E/G ratio of 3.00 and a beta of 0.87. The company’s fifty day moving average is $130.59. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.58 and a current ratio of 4.58. Boston Properties, Inc. has a 1 year low of $107.84 and a 1 year high of $140.35.

Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.68). The firm had revenue of $733.74 million during the quarter, compared to analysts’ expectations of $725.14 million. Boston Properties had a return on equity of 6.80% and a net margin of 18.96%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 EPS. On average, research analysts expect that Boston Properties, Inc. will post 7.03 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.98%. The ex-dividend date was Thursday, June 27th. Boston Properties’s dividend payout ratio is currently 60.32%.

About Boston Properties

Boston Properties (NYSE: BXP) is one of the largest publicly-held developers and owners of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.

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

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