Sumitomo Mitsui Asset Management Company LTD Reduces Stake in Boston Properties, Inc. (BXP)
Sumitomo Mitsui Asset Management Company LTD decreased its stake in shares of Boston Properties, Inc. (NYSE:BXP) by 68.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,091 shares of the real estate investment trust’s stock after selling 47,259 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Boston Properties were worth $2,717,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in shares of Boston Properties during the first quarter valued at about $200,000. Atria Investments LLC purchased a new position in shares of Boston Properties during the first quarter valued at about $224,000. Raymond James Trust N.A. purchased a new position in shares of Boston Properties during the first quarter valued at about $232,000. Parametrica Management Ltd purchased a new position in shares of Boston Properties during the second quarter valued at about $252,000. Finally, Advisor Partners LLC raised its position in shares of Boston Properties by 12.9% in the first quarter. Advisor Partners LLC now owns 2,204 shares of the real estate investment trust’s stock valued at $292,000 after buying an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 94.52% of the company’s stock.
Shares of Boston Properties, Inc. (BXP) traded down 1.01% on Friday, hitting $120.05. The stock had a trading volume of 564,776 shares. The firm has a market capitalization of $18.53 billion, a P/E ratio of 40.69 and a beta of 0.64. Boston Properties, Inc. has a 12-month low of $113.69 and a 12-month high of $143.90. The company has a 50 day moving average of $121.48 and a 200-day moving average of $127.72.
Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.05. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The company had revenue of $656.90 million for the quarter, compared to analysts’ expectations of $645.96 million. During the same period last year, the firm earned $1.44 earnings per share. The business’s revenue for the quarter 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 fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, June 30th were paid a $0.75 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $3.00 dividend on an annualized basis and a yield of 2.50%. Boston Properties’s dividend payout ratio (DPR) is 102.04%.
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Several equities analysts recently issued reports on BXP shares. TheStreet upgraded Boston Properties from a “c” rating to a “b-” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada restated a “buy” rating and set a $150.00 price target on shares of Boston Properties in a research note on Wednesday, July 5th. BidaskClub upgraded Boston Properties from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Jefferies Group LLC restated a “hold” rating and set a $121.00 price target on shares of Boston Properties in a research note on Friday, July 14th. Finally, Evercore ISI restated an “in-line” rating and set a $133.00 price target (down from $138.00) on shares of Boston Properties in a research note on Friday, April 28th. Two 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 stock. Boston Properties currently has a consensus 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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