Uniplan Investment Counsel Inc. lessened its stake in shares of Boston Properties, Inc. (NYSE:BXP) by 13.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 312,936 shares of the real estate investment trust’s stock after selling 50,000 shares during the period. Boston Properties accounts for approximately 2.2% of Uniplan Investment Counsel Inc.’s holdings, making the stock its 13th biggest position. Uniplan Investment Counsel Inc.’s holdings in Boston Properties were worth $38,519,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BXP. Allianz Asset Management GmbH grew its holdings in shares of Boston Properties by 1.4% during the first quarter. Allianz Asset Management GmbH now owns 189,557 shares of the real estate investment trust’s stock worth $23,357,000 after purchasing an additional 2,619 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Boston Properties by 7.9% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 46,851 shares of the real estate investment trust’s stock worth $5,876,000 after purchasing an additional 3,431 shares during the last quarter. Westpac Banking Corp grew its holdings in shares of Boston Properties by 29.4% during the second quarter. Westpac Banking Corp now owns 316,037 shares of the real estate investment trust’s stock worth $39,637,000 after purchasing an additional 71,756 shares during the last quarter. LS Investment Advisors LLC grew its holdings in shares of Boston Properties by 146.4% during the second quarter. LS Investment Advisors LLC now owns 13,202 shares of the real estate investment trust’s stock worth $1,656,000 after purchasing an additional 7,844 shares during the last quarter. Finally, Perpetual Ltd grew its holdings in shares of Boston Properties by 65.8% during the second quarter. Perpetual Ltd now owns 55,950 shares of the real estate investment trust’s stock worth $7,030,000 after purchasing an additional 22,200 shares during the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently commented on BXP. TheStreet upgraded Boston Properties from a “c+” rating to a “b-” rating in a report on Friday, August 3rd. Stifel Nicolaus increased their target price on Boston Properties from $130.00 to $135.00 and gave the stock a “hold” rating in a report on Thursday, August 2nd. Jefferies Financial Group restated a “hold” rating and set a $118.00 target price on shares of Boston Properties in a report on Wednesday, August 1st. Barclays restated a “buy” rating and set a $134.00 target price on shares of Boston Properties in a report on Tuesday, August 21st. Finally, SunTrust Banks increased their target price on Boston Properties to $137.00 and gave the stock a “hold” rating in a report on Monday, August 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $134.67.
Boston Properties stock traded up $0.37 during mid-day trading on Tuesday, hitting $124.81. The stock had a trading volume of 746,009 shares, compared to its average volume of 760,404. The stock has a market cap of $19.19 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 3.25 and a beta of 0.57. Boston Properties, Inc. has a 12 month low of $111.57 and a 12 month high of $132.82. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 1.36.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. The business had revenue of $686.28 million for the quarter, compared to analysts’ expectations of $674.30 million. Boston Properties had a return on equity of 6.75% and a net margin of 20.18%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.76 earnings per share. As a group, sell-side analysts expect that Boston Properties, Inc. will post 6.39 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, September 27th.
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About Boston Properties
Boston Properties is a fully integrated real estate company, organized as a real estate investment trust, that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 50.2 million square feet and consisting of 166 office properties (including nine properties under construction), six residential properties (including three properties under construction), five retail properties and one hotel.
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