Investors Buy Boston Properties Inc. (BXP) on Weakness

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Traders purchased shares of Boston Properties Inc. (NYSE:BXP) on weakness during trading hours on Thursday. $29.13 million flowed into the stock on the tick-up and $16.25 million flowed out of the stock on the tick-down, for a money net flow of $12.88 million into the stock. Of all stocks tracked, Boston Properties had the 8th highest net in-flow for the day. Boston Properties traded down ($0.03) for the day and closed at $134.76
BXP has been the subject of several research analyst reports. Deutsche Bank AG reiterated a “buy” rating and issued a $152.00 price objective (up from $151.00) on shares of Boston Properties in a report on Monday, July 18th. Evercore ISI downgraded Boston Properties from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $147.00 to $149.00 in a report on Monday, August 22nd. Zacks Investment Research downgraded Boston Properties from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Mizuho lifted their price objective on Boston Properties from $125.00 to $131.00 and gave the stock a “neutral” rating in a report on Thursday, July 28th. Finally, Morgan Stanley downgraded Boston Properties from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $140.00 to $145.00 in a report on Monday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Boston Properties presently has an average rating of “Buy” and an average target price of $144.91.
The firm has a market cap of $20.71 billion, a P/E ratio of 34.55 and a beta of 0.76. The company has a 50-day moving average price of $140.82 and a 200-day moving average price of $131.42.

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Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.04. Boston Properties had a return on equity of 7.89% and a net margin of 24.01%. The firm earned $623.50 million during the quarter, compared to analysts’ expectations of $612.38 million. During the same period last year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts anticipate that Boston Properties Inc. will post $5.98 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Wednesday, September 28th. Boston Properties’s payout ratio is 66.50%.
In other news, Director Martin Turchin sold 1,504 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $140.31, for a total value of $211,026.24. Following the completion of the transaction, the director now directly owns 2,857 shares in the company, valued at $400,865.67. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Frank D. Burt sold 4,573 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $142.26, for a total value of $650,554.98. The disclosure for this sale can be found here. 6.17% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Boston Properties by 2.2% in the second quarter. Vanguard Group Inc. now owns 21,551,541 shares of the company’s stock valued at $2,842,649,000 after buying an additional 458,019 shares during the last quarter. FMR LLC raised its stake in Boston Properties by 11.6% in the second quarter. FMR LLC now owns 9,786,504 shares of the company’s stock valued at $1,290,839,000 after buying an additional 1,019,047 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Boston Properties by 3.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,034,956 shares of the company’s stock valued at $766,922,000 after buying an additional 199,025 shares during the period. BlackRock Fund Advisors raised its stake in Boston Properties by 3.0% in the second quarter. BlackRock Fund Advisors now owns 4,627,326 shares of the company’s stock valued at $610,344,000 after buying an additional 135,315 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Boston Properties by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 4,513,066 shares of the company’s stock valued at $573,522,000 after buying an additional 315,482 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.
About Boston Properties
Boston Properties, Inc is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company is engaged in owning and developing office properties in the United States. The Company’s properties are concentrated in four markets: Boston, New York, San Francisco and Washington, DC.

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