PGGM Investments increased its stake in Boston Properties Inc. (NYSE:BXP) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,948,491 shares of the company’s stock after buying an additional 1,612 shares during the period. Boston Properties comprises 2.0% of PGGM Investments’ investment portfolio, making the stock its 5th largest position. PGGM Investments’ holdings in Boston Properties were worth $388,906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. raised its position in shares of Boston Properties by 0.7% in the first quarter. Franklin Resources Inc. now owns 344,042 shares of the company’s stock valued at $43,720,000 after buying an additional 2,400 shares during the period. Prudential Financial Inc. raised its position in shares of Boston Properties by 7.8% in the first quarter. Prudential Financial Inc. now owns 207,875 shares of the company’s stock valued at $26,417,000 after buying an additional 15,050 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Boston Properties by 12.9% in the first quarter. TIAA CREF Investment Management LLC now owns 938,225 shares of the company’s stock valued at $119,230,000 after buying an additional 107,084 shares during the period. Ngam Advisors L.P. raised its position in shares of Boston Properties by 3.6% in the first quarter. Ngam Advisors L.P. now owns 99,768 shares of the company’s stock valued at $12,679,000 after buying an additional 3,451 shares during the period. Finally, CIBC World Markets Inc. raised its position in shares of Boston Properties by 30.7% in the first quarter. CIBC World Markets Inc. now owns 16,524 shares of the company’s stock valued at $2,100,000 after buying an additional 3,879 shares during the period. Institutional investors own 95.57% of the company’s stock.

Shares of Boston Properties Inc. (NYSE:BXP) traded up 1.35% during midday trading on Wednesday, reaching $137.15. 533,391 shares of the company’s stock were exchanged. Boston Properties Inc. has a 12-month low of $107.28 and a 12-month high of $144.02. The stock’s 50 day moving average price is $140.19 and its 200 day moving average price is $132.04. The company has a market cap of $21.08 billion, a price-to-earnings ratio of 35.17 and a beta of 0.76.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.04. Boston Properties had a net margin of 24.01% and a return on equity of 7.89%. The business earned $623.50 million during the quarter, compared to analysts’ expectations of $612.38 million. During the same period last year, the company posted $1.36 EPS. The business’s revenue was up .9% on a year-over-year basis. Equities analysts anticipate that Boston Properties Inc. will post $5.98 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a $0.65 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.60 annualized dividend and a dividend yield of 1.90%. Boston Properties’s dividend payout ratio (DPR) is presently 66.50%.

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Boston Properties from $133.00 to $144.00 and gave the stock a “neutral” rating in a research note on Thursday, August 11th. Zacks Investment Research downgraded shares of Boston Properties from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Evercore ISI downgraded shares of Boston Properties from a “buy” rating to a “hold” rating and boosted their price target for the stock from $147.00 to $149.00 in a research note on Monday, August 22nd. Jefferies Group lowered their price target on shares of Boston Properties from $141.00 to $138.00 and set a “hold” rating for the company in a research note on Monday, August 22nd. Finally, BTIG Research assumed coverage on shares of Boston Properties in a research note on Thursday, August 25th. They issued a “neutral” rating for the company. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $144.91.

In other news, insider John Francis Powers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $141.90, for a total value of $1,419,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frank D. Burt sold 4,573 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $142.26, for a total transaction of $650,554.98. The disclosure for this sale can be found here. 6.17% of the stock is currently owned by insiders.

About Boston Properties

Boston Properties, Inc is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company is engaged in owning and developing office properties in the United States. The Company’s properties are concentrated in four markets: Boston, New York, San Francisco and Washington, DC.

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