Boston Properties, Inc. (BXP) Position Trimmed by Cohen & Steers Inc.

Cohen & Steers Inc. lessened its holdings in shares of Boston Properties, Inc. (NYSE:BXP) by 9.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,756,762 shares of the real estate investment trust’s stock after selling 397,704 shares during the period. Boston Properties makes up approximately 1.3% of Cohen & Steers Inc.’s portfolio, making the stock its 24th biggest holding. Cohen & Steers Inc. owned 2.43% of Boston Properties worth $461,631,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of Boston Properties by 2.4% during the second quarter. BlackRock Inc. now owns 14,996,676 shares of the real estate investment trust’s stock valued at $1,844,893,000 after acquiring an additional 346,189 shares during the last quarter. APG Asset Management US Inc. lifted its position in Boston Properties by 1.1% during the third quarter. APG Asset Management US Inc. now owns 6,541,092 shares of the real estate investment trust’s stock worth $803,769,000 after buying an additional 69,000 shares during the period. JPMorgan Chase & Co. lifted its position in Boston Properties by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 4,045,846 shares of the real estate investment trust’s stock worth $496,710,000 after buying an additional 228,106 shares during the period. Bank of New York Mellon Corp lifted its position in Boston Properties by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 3,759,436 shares of the real estate investment trust’s stock worth $462,486,000 after buying an additional 17,992 shares during the period. Finally, Boston Partners lifted its position in Boston Properties by 0.4% during the third quarter. Boston Partners now owns 2,576,787 shares of the real estate investment trust’s stock worth $316,636,000 after buying an additional 9,060 shares during the period. 95.58% of the stock is currently owned by institutional investors.

Several equities analysts recently weighed in on BXP shares. Royal Bank Of Canada downgraded Boston Properties from a “top pick” rating to an “outperform” rating and reduced their target price for the stock from $150.00 to $140.00 in a research report on Thursday, August 17th. Barclays reduced their target price on Boston Properties from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, August 31st. KeyCorp reiterated a “hold” rating on shares of Boston Properties in a research report on Friday, September 1st. Evercore ISI reiterated an “in-line” rating and set a $133.00 target price (up from $127.00) on shares of Boston Properties in a research report on Friday, October 6th. Finally, SunTrust Banks reiterated a “hold” rating and set a $130.00 target price on shares of Boston Properties in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Boston Properties currently has a consensus rating of “Hold” and a consensus target price of $133.73.

Boston Properties, Inc. (BXP) traded down $1.46 during trading on Friday, hitting $123.95. The stock had a trading volume of 837,500 shares, compared to its average volume of 680,808. The stock has a market cap of $19,353.56, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 3.58 and a beta of 0.63. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.92. Boston Properties, Inc. has a 52 week low of $116.77 and a 52 week high of $140.13.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.03. The company had revenue of $657.70 million for the quarter, compared to the consensus estimate of $649.84 million. Boston Properties had a return on equity of 6.43% and a net margin of 19.42%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $1.42 EPS. analysts expect that Boston Properties, Inc. will post 6.25 EPS for the current fiscal year.

In related news, insider Bryan J. Koop sold 5,868 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $124.55, for a total transaction of $730,859.40. Following the sale, the insider now directly owns 585 shares in the company, valued at approximately $72,861.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.17% of the company’s stock.

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

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