Legal & General Group Plc raised its holdings in Boston Properties, Inc. (NYSE:BXP) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,814,559 shares of the real estate investment trust’s stock after acquiring an additional 117,507 shares during the quarter. Legal & General Group Plc owned about 1.17% of Boston Properties worth $167,553,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in BXP. Wealth Quarterback LLC bought a new position in Boston Properties in the fourth quarter valued at approximately $10,112,110,000. Norges Bank bought a new position in Boston Properties in the fourth quarter valued at approximately $1,797,357,000. BlackRock Inc. boosted its stake in Boston Properties by 6.7% in the first quarter. BlackRock Inc. now owns 16,060,750 shares of the real estate investment trust’s stock valued at $1,481,284,000 after acquiring an additional 1,006,869 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Boston Properties by 10.2% in the first quarter. JPMorgan Chase & Co. now owns 4,545,687 shares of the real estate investment trust’s stock valued at $419,250,000 after acquiring an additional 419,911 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Boston Properties by 168.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 351,305 shares of the real estate investment trust’s stock valued at $48,430,000 after acquiring an additional 220,592 shares during the last quarter. 88.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:BXP traded down $4.78 during midday trading on Thursday, reaching $95.37. 61,580 shares of the company were exchanged, compared to its average volume of 1,372,208. Boston Properties, Inc. has a fifty-two week low of $71.57 and a fifty-two week high of $147.83. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 1.47. The stock has a fifty day simple moving average of $87.29 and a two-hundred day simple moving average of $117.45. The firm has a market cap of $15.72 billion, a PE ratio of 17.06, a P/E/G ratio of 2.88 and a beta of 1.05.
Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $2.39. Boston Properties had a net margin of 30.83% and a return on equity of 11.64%. The business had revenue of $752.60 million for the quarter, compared to analyst estimates of $761.83 million. During the same period last year, the business posted $0.63 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts forecast that Boston Properties, Inc. will post 7.21 earnings per share for the current year.
In other Boston Properties news, Director Bruce W. Duncan purchased 5,000 shares of the stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $75.47 per share, for a total transaction of $377,350.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bruce W. Duncan purchased 11,000 shares of the stock in a transaction on Monday, May 4th. The stock was acquired at an average price of $89.14 per share, for a total transaction of $980,540.00. The disclosure for this purchase can be found here. Insiders acquired a total of 18,000 shares of company stock worth $1,513,890 over the last quarter. Company insiders own 0.98% of the company’s stock.
A number of brokerages have recently weighed in on BXP. Mizuho reduced their price target on shares of Boston Properties from $152.00 to $105.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 28th. Stifel Nicolaus reduced their price target on shares of Boston Properties from $145.00 to $111.00 and set a “buy” rating on the stock in a research report on Friday, April 3rd. Citigroup reduced their price target on shares of Boston Properties from $146.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. SunTrust Banks raised shares of Boston Properties from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Tuesday. Finally, Morgan Stanley reduced their price target on shares of Boston Properties from $130.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 28th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Boston Properties currently has an average rating of “Buy” and a consensus price target of $123.92.
Boston Properties Company Profile
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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