JPMorgan Chase & Co. raised its position in Boston Properties (NYSE:BXP) by 9.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,141,991 shares of the real estate investment trust’s stock after purchasing an additional 356,355 shares during the quarter. JPMorgan Chase & Co. owned 2.68% of Boston Properties worth $510,377,000 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 business. Toronto Dominion Bank raised its position in Boston Properties by 25.2% in the first quarter. Toronto Dominion Bank now owns 83,196 shares of the real estate investment trust’s stock valued at $10,248,000 after purchasing an additional 16,722 shares during the period. BlackRock Inc. raised its position in Boston Properties by 1.5% in the first quarter. BlackRock Inc. now owns 15,724,820 shares of the real estate investment trust’s stock valued at $1,937,615,000 after purchasing an additional 235,331 shares during the period. Northern Trust Corp raised its position in Boston Properties by 2.5% in the first quarter. Northern Trust Corp now owns 2,629,543 shares of the real estate investment trust’s stock valued at $324,012,000 after purchasing an additional 64,847 shares during the period. 6 Meridian purchased a new stake in Boston Properties in the first quarter valued at approximately $446,000. Finally, Tredje AP fonden raised its position in Boston Properties by 16.0% in the first quarter. Tredje AP fonden now owns 14,064 shares of the real estate investment trust’s stock valued at $1,744,000 after purchasing an additional 1,940 shares during the period. 94.97% of the stock is currently owned by institutional investors.
Boston Properties opened at $119.59 on Friday, MarketBeat reports. The firm has a market capitalization of $18.44 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 3.22 and a beta of 0.57. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.14 and a quick ratio of 3.14. Boston Properties has a 52 week low of $111.57 and a 52 week high of $132.00.
The company also recently announced a quarterly dividend, which was paid on Monday, April 30th. Investors of record on Thursday, March 29th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.68%.
BXP has been the topic of a number of research analyst reports. Barclays cut their target price on Boston Properties from $135.00 to $131.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. Robert W. Baird reissued a “hold” rating and issued a $134.00 target price on shares of Boston Properties in a research report on Wednesday, January 31st. BMO Capital Markets reissued a “hold” rating and issued a $134.00 target price on shares of Boston Properties in a research report on Thursday, February 1st. Edward Jones raised Boston Properties from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Finally, Bank of America raised Boston Properties from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $131.54.
In related news, insider Bryan J. Koop sold 10,560 shares of the business’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $124.27, for a total transaction of $1,312,291.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.
About Boston Properties
Boston Properties is a fully integrated real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 50.3 million square feet and consisting of 167 office properties (including eight properties under construction), six residential properties (including four properties under construction), five retail properties and one hotel.
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