Boston Properties, Inc. (NYSE:BXP) Shares Sold by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD reduced its position in shares of Boston Properties, Inc. (NYSE:BXP) by 68.1% during the second quarter, according to its most recent filing with the 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Glen Harbor Capital Management LLC raised its stake in shares of Boston Properties by 13.0% in the first quarter. Glen Harbor Capital Management LLC now owns 8,840 shares of the real estate investment trust’s stock worth $1,170,000 after buying an additional 1,020 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of Boston Properties during the first quarter worth $502,000. Mn Services Vermogensbeheer B.V. raised its stake in shares of Boston Properties by 2.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,101 shares of the real estate investment trust’s stock worth $508,000 after buying an additional 112 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in shares of Boston Properties by 27.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 11,772 shares of the real estate investment trust’s stock worth $1,559,000 after buying an additional 2,523 shares in the last quarter. Finally, Motco raised its stake in shares of Boston Properties by 5.7% in the first quarter. Motco now owns 3,583 shares of the real estate investment trust’s stock worth $474,000 after buying an additional 193 shares in the last quarter. 94.52% of the stock is currently owned by institutional investors and hedge funds.

Boston Properties, Inc. (NYSE:BXP) traded down 1.01% during trading on Friday, reaching $120.05. 564,776 shares of the company traded hands. Boston Properties, Inc. has a 12-month low of $113.69 and a 12-month high of $143.90. The firm’s 50 day moving average price is $121.48 and its 200 day moving average price is $127.72. The firm has a market capitalization of $18.53 billion, a price-to-earnings ratio of 40.69 and a beta of 0.64.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.05. The business had revenue of $656.90 million during the quarter, compared to analysts’ expectations of $645.96 million. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.44 EPS. Equities research analysts expect that Boston Properties, Inc. will post $2.78 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $3.00 annualized dividend and a yield of 2.50%. Boston Properties’s payout ratio is currently 102.04%.

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A number of brokerages have weighed in on BXP. TheStreet upgraded shares of Boston Properties from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. BidaskClub lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Barclays PLC cut their target price on shares of Boston Properties from $141.00 to $137.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 18th. Zacks Investment Research lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $121.00 price target on shares of Boston Properties in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $135.64.

Boston Properties Company Profile

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.

Institutional Ownership by Quarter for Boston Properties (NYSE:BXP)

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