Envestnet Asset Management Inc. Cuts Position in Boston Properties, Inc. (BXP)
Envestnet Asset Management Inc. reduced its stake in Boston Properties, Inc. (NYSE:BXP) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,487 shares of the real estate investment trust’s stock after selling 520 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Boston Properties were worth $2,393,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of BXP. Amica Retiree Medical Trust bought a new stake in Boston Properties in the 3rd quarter valued at $105,000. NewSquare Capital LLC grew its stake in Boston Properties by 12,184.0% in the 3rd quarter. NewSquare Capital LLC now owns 122,840 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 121,840 shares during the last quarter. Sun Life Financial INC grew its stake in Boston Properties by 10,118.2% in the 2nd quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 1,113 shares during the last quarter. Garner Asset Management Corp acquired a new position in Boston Properties in the 2nd quarter valued at about $214,000. Finally, Timber Hill LLC acquired a new position in Boston Properties in the 3rd quarter valued at about $232,000. 95.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of Boston Properties, Inc. (BXP) opened at $126.71 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.92. The stock has a market cap of $19,505.57, a PE ratio of 20.19, a price-to-earnings-growth ratio of 3.61 and a beta of 0.63. Boston Properties, Inc. has a twelve month low of $116.77 and a twelve month high of $140.13.
Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.03. The firm had revenue of $657.70 million during the quarter, compared to the consensus estimate of $649.84 million. Boston Properties had a net margin of 19.42% and a return on equity of 6.43%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. equities research analysts expect that Boston Properties, Inc. will post 6.25 earnings per share for the current fiscal year.
A number of research analysts recently commented on BXP shares. KeyCorp reiterated a “hold” rating on shares of Boston Properties in a research note on Friday, September 1st. SunTrust Banks reiterated a “hold” rating and issued a $130.00 price target on shares of Boston Properties in a research note on Monday, October 9th. Jefferies Group reiterated a “hold” rating and issued a $124.00 price target on shares of Boston Properties in a research note on Tuesday, October 24th. Mizuho reiterated a “hold” rating and issued a $122.00 price target on shares of Boston Properties in a research note on Friday, November 3rd. Finally, Argus decreased their price target on shares of Boston Properties to $140.00 and set a “buy” rating on the stock in a research note on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Boston Properties presently has an average rating of “Hold” and an average price target of $132.80.
In other Boston Properties news, insider Bryan J. Koop sold 5,868 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $124.55, for a total value of $730,859.40. Following the completion of the sale, the insider now owns 585 shares of the company’s stock, valued at approximately $72,861.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.17% of the company’s stock.
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Boston Properties 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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