Spirit of America Management Corp NY Cuts Stake in Boston Properties, Inc. (BXP)

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Spirit of America Management Corp NY lowered its holdings in Boston Properties, Inc. (NYSE:BXP) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,400 shares of the real estate investment trust’s stock after selling 460 shares during the quarter. Spirit of America Management Corp NY’s holdings in Boston Properties were worth $1,794,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BXP. Mackay Shields LLC lifted its stake in shares of Boston Properties by 13.8% in the fourth quarter. Mackay Shields LLC now owns 32,456 shares of the real estate investment trust’s stock worth $3,653,000 after buying an additional 3,942 shares in the last quarter. Timbercreek Investment Management Inc. lifted its stake in shares of Boston Properties by 2.3% in the first quarter. Timbercreek Investment Management Inc. now owns 122,730 shares of the real estate investment trust’s stock worth $16,431,000 after buying an additional 2,800 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Boston Properties by 0.9% in the fourth quarter. State of Alaska Department of Revenue now owns 72,761 shares of the real estate investment trust’s stock worth $8,187,000 after buying an additional 676 shares in the last quarter. Resolution Capital Ltd lifted its stake in shares of Boston Properties by 18.6% in the fourth quarter. Resolution Capital Ltd now owns 6,007,941 shares of the real estate investment trust’s stock worth $77,322,000 after buying an additional 943,094 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Boston Properties by 5.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 164,000 shares of the real estate investment trust’s stock worth $18,459,000 after buying an additional 9,000 shares in the last quarter. Hedge funds and other institutional investors own 95.68% of the company’s stock.

In other Boston Properties news, SVP Frank D. Burt sold 2,000 shares of Boston Properties stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $133.64, for a total transaction of $267,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by company insiders.

Several equities research analysts recently issued reports on BXP shares. Zacks Investment Research cut shares of Boston Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, December 19th. Robert W. Baird upgraded shares of Boston Properties from a “neutral” rating to an “outperform” rating and set a $142.00 price objective for the company in a research report on Tuesday, January 8th. BTIG Research upgraded shares of Boston Properties from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Wednesday, January 9th. BMO Capital Markets restated a “hold” rating and set a $135.00 price objective on shares of Boston Properties in a research report on Tuesday, January 29th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Boston Properties from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Boston Properties has a consensus rating of “Hold” and a consensus target price of $135.89.

Shares of BXP traded down $1.46 during trading on Wednesday, reaching $132.80. 11,530 shares of the company traded hands, compared to its average volume of 786,740. Boston Properties, Inc. has a twelve month low of $107.84 and a twelve month high of $139.41. The stock has a market cap of $21.18 billion, a PE ratio of 21.06, a P/E/G ratio of 3.15 and a beta of 0.93. The company has a debt-to-equity ratio of 1.37, a current ratio of 4.81 and a quick ratio of 4.81.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results on Tuesday, January 29th. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.72). Boston Properties had a net margin of 21.45% and a return on equity of 7.28%. The company had revenue of $651.17 million for the quarter, compared to analyst estimates of $634.12 million. As a group, sell-side analysts expect that Boston Properties, Inc. will post 6.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Thursday, March 28th. Boston Properties’s dividend payout ratio is presently 60.32%.

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

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