Duff & Phelps Investment Management Co. Reduces Position in Boston Properties, Inc. (NYSE:BXP)
Duff & Phelps Investment Management Co. cut its position in shares of Boston Properties, Inc. (NYSE:BXP) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 447,103 shares of the real estate investment trust’s stock after selling 5,350 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Boston Properties were worth $55,003,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Jane Street Group LLC purchased a new position in shares of Boston Properties during the first quarter worth $200,000. Atria Investments LLC purchased a new position in shares of Boston Properties during the first quarter worth $224,000. Raymond James Trust N.A. purchased a new position in shares of Boston Properties during the first quarter worth $232,000. Parametrica Management Ltd purchased a new position in shares of Boston Properties during the second quarter worth $252,000. Finally, Advisor Partners LLC raised its position in shares of 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 worth $292,000 after buying an additional 252 shares in the last quarter. 94.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of Boston Properties, Inc. (NYSE:BXP) opened at 120.05 on Friday. Boston Properties, Inc. has a one year low of $113.69 and a one year high of $143.90. The firm has a market capitalization of $18.53 billion, a price-to-earnings ratio of 40.69 and a beta of 0.64. The firm has a 50-day moving average price of $121.48 and a 200 day moving average price of $127.72.
Boston Properties (NYSE:BXP) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $656.90 million for the quarter, compared to analysts’ expectations of $645.96 million. During the same quarter in the previous year, the firm posted $1.44 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that Boston Properties, Inc. will post $2.78 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Wednesday, June 28th. Boston Properties’s payout ratio is 102.04%.
A number of research analysts have recently weighed in on the company. TheStreet raised Boston Properties from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. BidaskClub raised Boston Properties from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research lowered Boston Properties from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $127.00 target price on shares of Boston Properties in a report on Thursday, June 22nd. Finally, Barclays PLC dropped their target price on Boston Properties from $141.00 to $137.00 and set an “overweight” rating on the stock in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $135.64.
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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