Alpine Woods Capital Investors LLC Reduces Stake in Boston Properties, Inc. (NYSE:BXP)
Alpine Woods Capital Investors LLC cut its position in Boston Properties, Inc. (NYSE:BXP) by 27.6% during the second quarter, Holdings Channel reports. The firm owned 92,961 shares of the real estate investment trust’s stock after selling 35,400 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Boston Properties were worth $11,436,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in BXP. Jane Street Group LLC purchased a new position in Boston Properties during the first quarter worth approximately $200,000. Atria Investments LLC purchased a new position in Boston Properties during the first quarter worth approximately $224,000. Raymond James Trust N.A. purchased a new position in Boston Properties during the first quarter worth approximately $232,000. Parametrica Management Ltd purchased a new position in Boston Properties during the second quarter worth approximately $252,000. Finally, Advisor Partners LLC increased its position in 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 during the period. Institutional investors own 94.52% of the company’s stock.
Shares of Boston Properties, Inc. (NYSE BXP) opened at 120.05 on Friday. Boston Properties, Inc. has a 1-year low of $113.69 and a 1-year high of $143.90. The stock has a 50 day moving average price of $121.48 and a 200-day moving average price of $127.72. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 40.69 and a beta of 0.64.
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 for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.05. The company had revenue of $656.90 million for the quarter, compared to the consensus estimate of $645.96 million. Boston Properties had a return on equity of 5.98% and a net margin of 18.18%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.44 EPS. On average, equities research analysts expect that Boston Properties, Inc. will post $2.78 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, June 30th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Wednesday, June 28th. Boston Properties’s dividend payout ratio (DPR) is currently 102.04%.
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A number of research firms have recently commented on BXP. TheStreet upgraded Boston Properties from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. BidaskClub upgraded Boston Properties from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research downgraded Boston Properties from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $127.00 price objective on shares of Boston Properties in a report on Thursday, June 22nd. Finally, Barclays PLC cut their price objective 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 equities 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 stock. The stock has an average rating of “Hold” and an average target price of $135.64.
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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