Investors Buy Boston Properties (BXP) on Weakness

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Investors bought shares of Boston Properties, Inc. (NYSE:BXP) on weakness during trading on Tuesday. $50.40 million flowed into the stock on the tick-up and $19.66 million flowed out of the stock on the tick-down, for a money net flow of $30.74 million into the stock. Of all stocks tracked, Boston Properties had the 27th highest net in-flow for the day. Boston Properties traded down ($0.60) for the day and closed at $124.57

Several research analysts recently issued reports on BXP shares. Argus reiterated a “buy” rating and set a $138.00 price target (down previously from $140.00) on shares of Boston Properties in a research report on Monday, February 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $133.00 price target (down previously from $136.00) on shares of Boston Properties in a research report on Tuesday, March 13th. Evercore ISI upgraded shares of Boston Properties from an “in-line” rating to an “outperform” rating in a research report on Monday, March 5th. Jefferies Financial Group reissued a “hold” rating on shares of Boston Properties in a report on Tuesday, February 27th. Finally, Citigroup dropped their price objective on Boston Properties from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $132.08.

The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 3.49 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 (NYSE:BXP) last announced its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.50. The company had revenue of $661.20 million during the quarter, compared to analysts’ expectations of $648.23 million. Boston Properties had a return on equity of 6.81% and a net margin of 20.48%. Boston Properties’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. equities analysts anticipate that Boston Properties, Inc. will post 6.32 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th will be paid a $0.80 dividend. The ex-dividend date is Thursday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.57%.

In other news, insider Bryan J. Koop sold 10,560 shares of the company’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $124.27, for a total value of $1,312,291.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Blue Fin Capital Inc. increased its stake in shares of Boston Properties by 8.4% in the 1st quarter. Blue Fin Capital Inc. now owns 5,825 shares of the real estate investment trust’s stock valued at $717,000 after acquiring an additional 450 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Boston Properties by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 110,961 shares of the real estate investment trust’s stock valued at $14,428,000 after acquiring an additional 476 shares during the last quarter. Concentric Wealth Management LLC increased its stake in shares of Boston Properties by 4.7% in the 1st quarter. Concentric Wealth Management LLC now owns 11,200 shares of the real estate investment trust’s stock valued at $1,380,000 after acquiring an additional 505 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Boston Properties by 0.5% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 101,609 shares of the real estate investment trust’s stock valued at $13,211,000 after acquiring an additional 554 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Boston Properties by 1.3% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 46,029 shares of the real estate investment trust’s stock valued at $5,672,000 after acquiring an additional 584 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

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 nine properties under construction), six residential properties (including four properties under construction), five retail properties and one hotel.

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