Boston Properties, Inc. (NYSE:BXP) Stake Decreased by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its position in Boston Properties, Inc. (NYSE:BXP) by 7.4% during the second quarter, Holdings Channel reports. The fund owned 45,200 shares of the real estate investment trust’s stock after selling 3,622 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Boston Properties were worth $5,561,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of BXP. Raymond James Trust N.A. bought a new position in shares of Boston Properties during the first quarter worth approximately $232,000. Gulf International Bank UK Ltd boosted its position in shares of Boston Properties by 6.0% in the first quarter. Gulf International Bank UK Ltd now owns 47,998 shares of the real estate investment trust’s stock worth $6,355,000 after buying an additional 2,700 shares during the last quarter. National Pension Service boosted its position in shares of Boston Properties by 6.1% in the first quarter. National Pension Service now owns 133,699 shares of the real estate investment trust’s stock worth $17,565,000 after buying an additional 7,634 shares during the last quarter. Atria Investments LLC bought a new position in shares of Boston Properties during the first quarter worth approximately $224,000. Finally, DnB Asset Management AS boosted its position in shares of Boston Properties by 23.8% in the first quarter. DnB Asset Management AS now owns 17,140 shares of the real estate investment trust’s stock worth $2,270,000 after buying an additional 3,300 shares during the last quarter. Institutional investors own 94.52% of the company’s stock.
Boston Properties, Inc. (NYSE:BXP) opened at 121.27 on Friday. The company has a 50 day moving average price of $121.62 and a 200-day moving average price of $127.79. The firm has a market capitalization of $18.71 billion, a price-to-earnings ratio of 41.11 and a beta of 0.64. Boston Properties, Inc. has a 1-year low of $113.69 and a 1-year high of $143.94.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.05. Boston Properties had a return on equity of 5.98% and a net margin of 18.18%. The business had revenue of $656.90 million for the quarter, compared to analyst estimates of $645.96 million. During the same period last year, the company earned $1.44 EPS. Boston Properties’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts forecast that Boston Properties, Inc. will post $2.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, June 30th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, June 28th. This represents a $3.00 annualized dividend and a yield of 2.47%. Boston Properties’s payout ratio is 102.04%.
BXP has been the topic of a number of recent analyst reports. Barclays PLC raised their price target on Boston Properties from $139.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 19th. Evercore ISI reiterated an “in-line” rating and issued a $133.00 target price (down previously from $138.00) on shares of Boston Properties in a research report on Friday, April 28th. TheStreet cut Boston Properties from a “b-” rating to a “c” rating in a research report on Wednesday, May 17th. BidaskClub upgraded Boston Properties from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $127.00 target price on shares of Boston Properties in a research report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Boston Properties currently has a consensus rating of “Hold” and a consensus target price of $136.33.
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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