NJ State Employees Deferred Compensation Plan Continues to Hold Stake in Boston Properties, Inc. (BXP)
NJ State Employees Deferred Compensation Plan maintained its position in shares of Boston Properties, Inc. (NYSE:BXP) during the second quarter, Holdings Channel reports. The fund owned 4,000 shares of the real estate investment trust’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in Boston Properties were worth $492,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Harbour Capital Advisors LLC increased its position in shares of 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 worth $110,000 after buying an additional 13,422 shares during the last quarter. IBM Retirement Fund increased its position in shares of Boston Properties by 120.8% in the second quarter. IBM Retirement Fund now owns 3,776 shares of the real estate investment trust’s stock worth $519,000 after buying an additional 2,066 shares during the last quarter. Sumitomo Life Insurance Co. increased its position in shares of Boston Properties by 4.4% in the second quarter. Sumitomo Life Insurance Co. now owns 15,185 shares of the real estate investment trust’s stock worth $1,868,000 after buying an additional 639 shares during the last quarter. Bowling Portfolio Management LLC bought a new position in shares of Boston Properties during the second quarter worth approximately $1,033,000. Finally, Quadrant Capital Management LLC increased its position in shares of Boston Properties by 2.9% in the second quarter. Quadrant Capital Management LLC now owns 23,125 shares of the real estate investment trust’s stock worth $2,845,000 after buying an additional 655 shares during the last quarter. Hedge funds and other institutional investors own 94.52% of the company’s stock.
Shares of Boston Properties, Inc. (NYSE:BXP) opened at 122.75 on Tuesday. The firm’s 50-day moving average price is $122.34 and its 200 day moving average price is $128.10. The firm has a market cap of $18.89 billion, a PE ratio of 45.30 and a beta of 0.64. Boston Properties, Inc. has a 1-year low of $113.69 and a 1-year high of $144.02.
Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.05. Boston Properties had a return on equity of 5.98% and a net margin of 18.18%. The company had revenue of $656.90 million for the quarter, compared to analyst estimates of $645.96 million. During the same quarter in the prior year, the company posted $1.44 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Boston Properties, Inc. will post $2.74 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Wednesday, June 28th. Boston Properties’s dividend payout ratio is presently 102.04%.
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A number of equities analysts recently commented on the company. TheStreet upgraded Boston Properties from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. BidaskClub downgraded Boston Properties from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Barclays PLC reduced their price objective on Boston Properties from $141.00 to $137.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 18th. Zacks Investment Research downgraded Boston Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $121.00 price objective on shares of Boston Properties in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price 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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