Korea Investment CORP lifted its position in shares of Boston Properties, Inc. (NYSE:BXP) by 189.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,597 shares of the real estate investment trust’s stock after purchasing an additional 16,085 shares during the period. Korea Investment CORP’s holdings in Boston Properties were worth $2,768,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in BXP. Brookfield Asset Management Inc. bought a new stake in shares of Boston Properties during the third quarter worth about $222,006,000. Resolution Capital Ltd grew its holdings in shares of Boston Properties by 18.6% during 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 purchasing an additional 943,094 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Boston Properties by 86.4% during the third quarter. Deutsche Bank AG now owns 1,798,412 shares of the real estate investment trust’s stock worth $221,360,000 after purchasing an additional 833,693 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Boston Properties by 8.3% during the third quarter. JPMorgan Chase & Co. now owns 4,274,888 shares of the real estate investment trust’s stock worth $526,197,000 after purchasing an additional 326,351 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Boston Properties by 1.7% during the fourth quarter. BlackRock Inc. now owns 16,120,682 shares of the real estate investment trust’s stock worth $1,814,382,000 after purchasing an additional 274,895 shares during the last quarter. Institutional investors own 93.81% of the company’s stock.
In related news, SVP Frank D. Burt sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $133.64, for a total value of $267,280.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company’s stock.
Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, January 29th. The real estate investment trust reported $0.96 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $634.12 million. As a group, sell-side analysts anticipate that Boston Properties, Inc. will post 6.95 EPS for the current fiscal year.
Several research firms have recently weighed in on BXP. Zacks Investment Research cut Boston Properties from a “buy” rating to a “hold” rating in a report on Monday, December 10th. Morgan Stanley cut Boston Properties from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $130.00 to $116.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $135.50.
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Boston Properties Profile
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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