Schwab Charles Investment Management Inc. Has $159.80 Million Position in Boston Properties, Inc. (NYSE:BXP)
Schwab Charles Investment Management Inc. increased its position in shares of Boston Properties, Inc. (NYSE:BXP) by 9.7% during the second quarter, Holdings Channel reports. The fund owned 1,298,973 shares of the real estate investment trust’s stock after buying an additional 114,759 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Boston Properties were worth $159,800,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of BXP. Harbour Capital Advisors LLC boosted 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. Jane Street Group LLC bought a new position in shares of Boston Properties during the first quarter worth about $200,000. Atria Investments LLC bought a new position in shares of Boston Properties during the first quarter worth about $224,000. Raymond James Trust N.A. bought a new position in shares of Boston Properties during the first quarter worth about $232,000. Finally, Parametrica Management Ltd bought a new position in shares of Boston Properties during the second quarter worth about $252,000. 94.52% of the stock is owned by institutional investors.
Shares of Boston Properties, Inc. (NYSE BXP) opened at 120.05 on Friday. The company has a market capitalization of $18.53 billion, a PE ratio of 40.69 and a beta of 0.64. The firm’s 50-day moving average price is $121.48 and its 200 day moving average price is $127.72. Boston Properties, Inc. has a one year low of $113.69 and a one year high of $143.90.
Boston Properties (NYSE:BXP) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.05. The business had revenue of $656.90 million for the quarter, compared to analyst estimates of $645.96 million. Boston Properties had a return on equity of 5.98% and a net margin of 18.18%. Boston Properties’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $1.44 earnings per share. Analysts anticipate that Boston Properties, Inc. will post $2.78 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, June 30th were paid a $0.75 dividend. 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 dividend payout ratio (DPR) is presently 102.04%.
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A number of brokerages have issued reports on BXP. BidaskClub cut Boston Properties from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Royal Bank Of Canada reissued a “buy” rating and set a $150.00 price objective on shares of Boston Properties in a report on Wednesday, July 5th. Barclays PLC cut their price objective on Boston Properties from $141.00 to $137.00 and set an “overweight” rating for the company in a report on Tuesday, July 18th. Zacks Investment Research cut Boston Properties from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Finally, TheStreet cut Boston Properties from a “b-” rating to a “c” rating in a report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus 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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