HGI Capital Management LLC purchased a new stake in Boston Properties, Inc. (NYSE:BXP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,945 shares of the real estate investment trust’s stock, valued at approximately $3,807,000. Boston Properties accounts for approximately 4.7% of HGI Capital Management LLC’s investment portfolio, making the stock its 11th largest position.
Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Boston Properties by 2,333.7% in the first quarter. BlackRock Inc. now owns 14,650,487 shares of the real estate investment trust’s stock valued at $1,939,871,000 after buying an additional 14,048,513 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Boston Properties by 45.5% in the first quarter. JPMorgan Chase & Co. now owns 3,942,489 shares of the real estate investment trust’s stock valued at $522,026,000 after buying an additional 1,233,425 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Boston Properties by 1.8% in the first quarter. Vanguard Group Inc. now owns 22,201,045 shares of the real estate investment trust’s stock valued at $2,939,641,000 after buying an additional 398,674 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Boston Properties by 45.7% in the first quarter. American Century Companies Inc. now owns 1,213,152 shares of the real estate investment trust’s stock valued at $160,633,000 after buying an additional 380,500 shares during the last quarter. Finally, APG Asset Management N.V. increased its stake in shares of Boston Properties by 43.8% in the second quarter. APG Asset Management N.V. now owns 963,876 shares of the real estate investment trust’s stock valued at $118,576,000 after buying an additional 293,526 shares during the last quarter. 94.52% of the stock is currently owned by institutional investors and hedge funds.
Boston Properties, Inc. (BXP) opened at 121.67 on Thursday. The firm has a market capitalization of $18.72 billion, a PE ratio of 44.90 and a beta of 0.64. Boston Properties, Inc. has a 12 month low of $113.69 and a 12 month high of $143.94. The stock’s 50 day moving average price is $121.73 and its 200 day moving average price is $127.84.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.05. The company had revenue of $656.90 million for the quarter, compared to the consensus estimate of $645.96 million. Boston Properties had a return on equity of 5.98% and a net margin of 18.18%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.44 EPS. Equities research analysts expect that Boston Properties, Inc. will post $2.78 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, June 30th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Wednesday, June 28th. Boston Properties’s dividend payout ratio (DPR) is currently 102.04%.
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Several analysts have weighed in on BXP shares. BidaskClub raised Boston Properties from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Evercore ISI reaffirmed an “in-line” rating and set a $133.00 target price (down previously from $138.00) on shares of Boston Properties in a research note on Friday, April 28th. Barclays PLC lifted their target price on Boston Properties from $139.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $127.00 target price on shares of Boston Properties in a research note on Thursday, June 22nd. Finally, TheStreet raised Boston Properties from a “c” rating to a “b-” rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Boston Properties currently has a consensus rating of “Hold” and an average price target of $136.33.
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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