Boston Properties, Inc. (NYSE:BXP) Stock Position Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in Boston Properties, Inc. (NYSE:BXP) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,336 shares of the real estate investment trust’s stock after selling 521 shares during the period. PNC Financial Services Group Inc.’s holdings in Boston Properties were worth $3,883,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. HighTower Advisors LLC increased its position in Boston Properties by 81.2% in the 3rd quarter. HighTower Advisors LLC now owns 27,117 shares of the real estate investment trust’s stock valued at $1,607,000 after acquiring an additional 12,151 shares during the period. Rafferty Asset Management LLC increased its holdings in shares of Boston Properties by 6.2% during the third quarter. Rafferty Asset Management LLC now owns 16,118 shares of the real estate investment trust’s stock valued at $959,000 after purchasing an additional 935 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Boston Properties during the third quarter valued at $1,009,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Boston Properties during the third quarter valued at about $565,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Boston Properties by 59.1% in the third quarter. Envestnet Asset Management Inc. now owns 485,750 shares of the real estate investment trust’s stock worth $28,892,000 after purchasing an additional 180,483 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Boston Properties Stock Performance

BXP stock opened at $62.05 on Thursday. The firm has a 50 day moving average of $60.80 and a two-hundred day moving average of $64.47. Boston Properties, Inc. has a 12 month low of $50.64 and a 12 month high of $73.97. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 50.86, a P/E/G ratio of 0.43 and a beta of 1.15. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 1.91.

Boston Properties (NYSE:BXP) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.22). The business had revenue of $839.44 million during the quarter, compared to analyst estimates of $808.68 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.35%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 EPS. As a group, equities analysts anticipate that Boston Properties, Inc. will post 7.05 EPS for the current fiscal year.

Boston Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date is Friday, June 28th. Boston Properties’s dividend payout ratio is 321.31%.

Analyst Upgrades and Downgrades

BXP has been the subject of a number of research analyst reports. BMO Capital Markets reduced their price target on shares of Boston Properties from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. Wedbush decreased their price target on Boston Properties from $66.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. StockNews.com downgraded Boston Properties from a “hold” rating to a “sell” rating in a research note on Wednesday. Evercore ISI decreased their target price on Boston Properties from $73.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Finally, Barclays dropped their price target on shares of Boston Properties from $66.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $68.93.

Boston Properties Profile

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.