Bessemer Group Inc. boosted its stake in Boston Properties, Inc. (NYSE:BXP) by 83.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,000 shares of the real estate investment trust’s stock after purchasing an additional 456 shares during the quarter. Bessemer Group Inc.’s holdings in Boston Properties were worth $129,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Garner Asset Management Corp purchased a new stake in Boston Properties during the first quarter worth approximately $230,000. 6 Meridian grew its stake in Boston Properties by 2.1% during the second quarter. 6 Meridian now owns 4,027 shares of the real estate investment trust’s stock worth $519,000 after buying an additional 82 shares during the period. Stevens Capital Management LP purchased a new stake in Boston Properties during the first quarter worth approximately $1,703,000. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Boston Properties by 132.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 76,663 shares of the real estate investment trust’s stock valued at $10,263,000 after purchasing an additional 43,637 shares during the period. Finally, Timbercreek Investment Management Inc. boosted its stake in shares of Boston Properties by 2.3% in the first quarter. Timbercreek Investment Management Inc. now owns 122,730 shares of the real estate investment trust’s stock valued at $16,431,000 after purchasing an additional 2,800 shares during the period. Hedge funds and other institutional investors own 90.69% of the company’s stock.
Several brokerages have recently weighed in on BXP. Morgan Stanley upped their target price on shares of Boston Properties from $116.00 to $123.00 and gave the company an “underweight” rating in a research note on Monday, June 17th. Zacks Investment Research downgraded shares of Boston Properties from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Citigroup decreased their target price on shares of Boston Properties from $142.00 to $131.00 and set a “neutral” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Boston Properties has a consensus rating of “Hold” and a consensus target price of $136.96.
BXP opened at $127.09 on Friday. The stock has a market capitalization of $19.67 billion, a PE ratio of 18.88, a P/E/G ratio of 2.94 and a beta of 0.87. The firm’s fifty day moving average price is $130.27 and its 200 day moving average price is $132.95. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.58 and a quick ratio of 4.58. Boston Properties, Inc. has a 12-month low of $107.84 and a 12-month high of $140.35.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.68). The company had revenue of $733.74 million during the quarter, compared to analyst estimates of $725.14 million. Boston Properties had a net margin of 18.96% and a return on equity of 6.80%. The company’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.83 earnings per share. On average, equities research analysts forecast that Boston Properties, Inc. will post 7.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were issued a $0.95 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $3.80 annualized dividend and a yield of 2.99%. Boston Properties’s dividend payout ratio is presently 60.32%.
About Boston Properties
Boston Properties (NYSE: BXP) is one of the largest publicly-held developers and owners of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.
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