AMF Pensionsforsakring AB continued to hold its stake in Boston Properties, Inc. (NYSE:BXP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 434,635 shares of the real estate investment trust’s stock at the end of the second quarter. AMF Pensionsforsakring AB owned 0.28% of Boston Properties worth $57,550,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Brookfield Asset Management Inc. acquired a new stake in Boston Properties during the fourth quarter worth about $83,988,000. Toronto Dominion Bank boosted its stake in Boston Properties by 56.6% in the first quarter. Toronto Dominion Bank now owns 41,515 shares of the real estate investment trust’s stock worth $5,496,000 after buying an additional 14,998 shares during the period. Vanguard Group Inc. boosted its stake in Boston Properties by 1.8% in the first quarter. Vanguard Group Inc. now owns 22,201,045 shares of the real estate investment trust’s stock worth $2,939,641,000 after buying an additional 398,674 shares during the period. Credit Suisse AG boosted its stake in Boston Properties by 7.4% in the first quarter. Credit Suisse AG now owns 698,737 shares of the real estate investment trust’s stock worth $92,519,000 after buying an additional 48,354 shares during the period. Finally, Bank of Nova Scotia boosted its stake in Boston Properties by 917.9% in the first quarter. Bank of Nova Scotia now owns 35,127 shares of the real estate investment trust’s stock worth $4,651,000 after buying an additional 31,676 shares during the period. Hedge funds and other institutional investors own 94.52% of the company’s stock.
Shares of Boston Properties, Inc. (NYSE BXP) traded down 1.01% during trading on Friday, reaching $120.05. 564,776 shares of the company were exchanged. The company has a 50 day moving average price of $121.48 and a 200-day moving average price of $127.72. Boston Properties, Inc. has a one year low of $113.69 and a one year high of $143.90. The stock has a market capitalization of $18.53 billion, a price-to-earnings ratio of 40.69 and a beta of 0.64.
Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.05. Boston Properties had a return on equity of 5.98% and a net margin of 18.18%. The business had revenue of $656.90 million during the quarter, compared to the consensus estimate of $645.96 million. During the same quarter last year, the firm posted $1.44 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts predict that Boston Properties, Inc. will post $2.78 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.50%. The ex-dividend date was Wednesday, June 28th. Boston Properties’s dividend payout ratio is 102.04%.
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BXP has been the subject of a number of analyst reports. Evercore ISI reiterated an “in-line” rating and issued a $133.00 target price (down from $138.00) on shares of Boston Properties in a research note on Friday, April 28th. Barclays PLC reduced their price objective on shares of Boston Properties from $141.00 to $137.00 and set an “overweight” rating for the company in a research note 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 research note on Thursday, June 22nd. Zacks Investment Research cut shares of Boston Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Finally, TheStreet cut shares of Boston Properties from a “b-” rating to a “c” rating in a research note on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Boston Properties presently 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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