Metropolitan Life Insurance Co. NY reduced its position in Boston Properties, Inc. (NYSE:BXP) by 59.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,091 shares of the real estate investment trust’s stock after selling 49,266 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Boston Properties were worth $4,303,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Amica Retiree Medical Trust acquired a new stake in shares of Boston Properties in the 3rd quarter valued at approximately $105,000. Fieldpoint Private Securities LLC acquired a new stake in shares of Boston Properties in the 3rd quarter valued at approximately $125,000. Americafirst Capital Management LLC acquired a new stake in shares of Boston Properties in the 3rd quarter valued at approximately $169,000. Huntington National Bank boosted its stake in shares of Boston Properties by 397.1% in the 4th quarter. Huntington National Bank now owns 1,526 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 1,219 shares in the last quarter. Finally, Zions Bancorporation boosted its stake in shares of Boston Properties by 46.3% in the 3rd quarter. Zions Bancorporation now owns 1,852 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 586 shares in the last quarter. 95.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Boston Properties, Inc. (NYSE:BXP) opened at $126.28 on Tuesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.92. Boston Properties, Inc. has a 1 year low of $111.57 and a 1 year high of $137.35. The company has a market cap of $19,625.82, a P/E ratio of 20.48, a P/E/G ratio of 3.47 and a beta of 0.60.
Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, January 30th. The real estate investment trust reported $1.49 EPS for the quarter, topping the consensus estimate of $1.47 by $0.02. Boston Properties had a net margin of 17.67% and a return on equity of 5.86%. The business had revenue of $655.23 million for the quarter, compared to the consensus estimate of $654.36 million. During the same period last year, the company earned $0.94 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. analysts predict that Boston Properties, Inc. will post 6.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $3.20 annualized dividend and a yield of 2.53%. Boston Properties’s dividend payout ratio is presently 109.22%.
BXP has been the topic of a number of research analyst reports. Jefferies Group restated a “hold” rating on shares of Boston Properties in a research note on Tuesday, February 27th. Zacks Investment Research downgraded shares of Boston Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. BMO Capital Markets restated a “hold” rating and issued a $134.00 price target on shares of Boston Properties in a research note on Thursday, February 1st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $133.00 price target (down from $136.00) on shares of Boston Properties in a research note on Tuesday, March 13th. Finally, Bank of America upgraded shares of Boston Properties from a “neutral” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $132.00.
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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