Penserra Capital Management LLC cut its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 27.0% during the first quarter, HoldingsChannel.com reports. The firm owned 7,696 shares of the real estate investment trust’s stock after selling 2,847 shares during the quarter. Penserra Capital Management LLC’s holdings in Boston Properties were worth $1,059,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in BXP. JOYN Advisors Inc. raised its position in shares of Boston Properties by 63.3% in the 4th quarter. JOYN Advisors Inc. now owns 276 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 107 shares during the period. Flagship Harbor Advisors LLC raised its position in shares of Boston Properties by 200.0% in the 4th quarter. Flagship Harbor Advisors LLC now owns 300 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 200 shares during the period. Loeb Partners Corp acquired a new stake in shares of Boston Properties in the 4th quarter valued at approximately $33,000. Shine Investment Advisory Services Inc. raised its position in shares of Boston Properties by 58.7% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 246 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 91 shares during the period. Finally, Doyle Wealth Management acquired a new stake in shares of Boston Properties in the 4th quarter valued at approximately $34,000. Institutional investors own 91.66% of the company’s stock.
In related news, insider Bryan J. Koop sold 5,616 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $133.95, for a total transaction of $752,263.20. Following the completion of the sale, the insider now directly owns 10,175 shares of the company’s stock, valued at approximately $1,362,941.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.99% of the stock is currently owned by corporate insiders.
NYSE BXP opened at $132.02 on Friday. Boston Properties, Inc. has a 52-week low of $107.84 and a 52-week high of $140.35. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.78 and a quick ratio of 3.78. The company has a market cap of $20.40 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 2.99 and a beta of 0.93.
Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.06. Boston Properties had a return on equity of 6.31% and a net margin of 18.15%. The business had revenue of $725.80 million during the quarter, compared to analysts’ expectations of $703.16 million. During the same period in the prior year, the business earned $1.49 EPS. Boston Properties’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Boston Properties, Inc. will post 6.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were paid a dividend of $0.95 per share. The ex-dividend date was Thursday, March 28th. This represents a $3.80 dividend on an annualized basis and a yield of 2.88%. Boston Properties’s payout ratio is 60.32%.
A number of analysts recently weighed in on BXP shares. Zacks Investment Research upgraded shares of Boston Properties from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a research report on Wednesday, April 10th. ValuEngine upgraded shares of Boston Properties from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. BTIG Research increased their price target on shares of Boston Properties to $145.00 and gave the company a “buy” rating in a research report on Thursday, January 31st. Deutsche Bank increased their price target on shares of Boston Properties from $134.00 to $138.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $135.00 price target on shares of Boston Properties in a research report on Tuesday, January 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $136.71.
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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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