Pacer Advisors Inc. cut its stake in Boston Properties, Inc. (NYSE:BXP) by 16.5% in the second quarter, HoldingsChannel reports. The fund owned 14,683 shares of the real estate investment trust’s stock after selling 2,892 shares during the period. Pacer Advisors Inc.’s holdings in Boston Properties were worth $1,894,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Rational Advisors LLC grew its stake in shares of Boston Properties by 66.4% during the 1st quarter. Rational Advisors LLC now owns 203 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 81 shares during the period. Advisory Services Network LLC lifted its stake in shares of Boston Properties by 112.4% in the 2nd quarter. Advisory Services Network LLC now owns 257 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 136 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in Boston Properties by 1,804.8% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 379 shares in the last quarter. Focused Wealth Management Inc purchased a new stake in Boston Properties during the first quarter worth $67,000. Finally, CWM LLC boosted its holdings in Boston Properties by 17,500.0% during the second quarter. CWM LLC now owns 528 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 525 shares in the last quarter. Institutional investors and hedge funds own 90.58% of the company’s stock.
BXP has been the subject of a number of recent analyst reports. Robert W. Baird set a $152.00 price objective on shares of Boston Properties and gave the company a “buy” rating in a report on Wednesday, August 21st. Citigroup decreased their price objective on shares of Boston Properties from $142.00 to $131.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Finally, Morgan Stanley raised shares of Boston Properties from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $123.00 to $126.00 in a research note on Tuesday. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Boston Properties currently has a consensus rating of “Hold” and an average price target of $138.04.
Shares of BXP stock traded up $0.23 during trading hours on Wednesday, hitting $131.14. 18,065 shares of the company’s stock were exchanged, compared to its average volume of 529,299. Boston Properties, Inc. has a fifty-two week low of $107.84 and a fifty-two week high of $140.35. The firm has a market cap of $20.16 billion, a P/E ratio of 20.77, a P/E/G ratio of 3.00 and a beta of 0.88. The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of 1.51. The firm has a 50 day moving average of $128.95 and a two-hundred day moving average of $132.37.
Boston Properties (NYSE:BXP) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.68). Boston Properties had a return on equity of 6.80% and a net margin of 18.96%. The business had revenue of $733.74 million for the quarter, compared to analyst estimates of $725.14 million. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year. On average, equities analysts forecast that Boston Properties, Inc. will post 7.03 earnings per share for the current fiscal year.
About Boston Properties
Boston Properties (NYSE: BXP) is one of the largest publicly-held developers and owners of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.
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