Westpac Banking Corp Has $28.39 Million Position in Boston Properties, Inc. (BXP)
Westpac Banking Corp increased its position in shares of Boston Properties, Inc. (NYSE:BXP) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 218,308 shares of the real estate investment trust’s stock after purchasing an additional 2,741 shares during the quarter. Boston Properties makes up approximately 0.6% of Westpac Banking Corp’s holdings, making the stock its 26th largest holding. Westpac Banking Corp’s holdings in Boston Properties were worth $28,387,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its position in Boston Properties by 5.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,468,563 shares of the real estate investment trust’s stock worth $190,958,000 after acquiring an additional 71,986 shares during the period. National Pension Service raised its position in Boston Properties by 8.0% in the fourth quarter. National Pension Service now owns 165,760 shares of the real estate investment trust’s stock worth $21,554,000 after acquiring an additional 12,279 shares during the period. Bank of Montreal Can raised its position in Boston Properties by 19.9% in the fourth quarter. Bank of Montreal Can now owns 1,142,341 shares of the real estate investment trust’s stock worth $148,537,000 after acquiring an additional 189,260 shares during the period. Nisa Investment Advisors LLC raised its position in Boston Properties by 2.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 53,106 shares of the real estate investment trust’s stock worth $6,905,000 after acquiring an additional 1,490 shares during the period. Finally, DnB Asset Management AS raised its position in Boston Properties by 5.7% in the fourth quarter. DnB Asset Management AS now owns 16,640 shares of the real estate investment trust’s stock worth $2,164,000 after acquiring an additional 900 shares during the period. 95.34% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Bryan J. Koop sold 5,868 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $124.55, for a total value of $730,859.40. Following the sale, the insider now owns 585 shares of the company’s stock, valued at $72,861.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.17% of the company’s stock.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.03. Boston Properties had a net margin of 19.42% and a return on equity of 6.43%. The company had revenue of $657.70 million for the quarter, compared to analyst estimates of $649.84 million. During the same quarter in the previous year, the firm posted $1.42 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. sell-side analysts expect that Boston Properties, Inc. will post 6.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be given a $0.80 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.20 annualized dividend and a dividend yield of 2.61%. This is a positive change from Boston Properties’s previous quarterly dividend of $0.75. Boston Properties’s payout ratio is 99.69%.
Several analysts have commented on the stock. Zacks Investment Research lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Robert W. Baird reaffirmed a “hold” rating and issued a $125.00 price objective on shares of Boston Properties in a research report on Tuesday, January 9th. BMO Capital Markets lowered shares of Boston Properties from an “outperform” rating to a “market perform” rating and set a $134.00 price objective on the stock. in a research report on Tuesday, January 9th. They noted that the move was a valuation call. Royal Bank of Canada set a $140.00 price objective on shares of Boston Properties and gave the stock a “buy” rating in a research report on Monday, November 27th. Finally, Argus lowered their price objective on shares of Boston Properties to $140.00 and set a “buy” rating on the stock in a research report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $131.00.
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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