Bank of Nova Scotia Cuts Stock Holdings in Boston Properties, Inc. (NYSE:BXP)

Bank of Nova Scotia lowered its position in Boston Properties, Inc. (NYSE:BXPGet Rating) by 49.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,864 shares of the real estate investment trust’s stock after selling 11,552 shares during the period. Bank of Nova Scotia’s holdings in Boston Properties were worth $1,055,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BXP. Cullen Capital Management LLC boosted its stake in Boston Properties by 17,612.1% in the first quarter. Cullen Capital Management LLC now owns 919,611 shares of the real estate investment trust’s stock worth $118,446,000 after buying an additional 914,419 shares in the last quarter. State Street Corp boosted its stake in Boston Properties by 6.1% in the first quarter. State Street Corp now owns 11,026,679 shares of the real estate investment trust’s stock worth $1,430,779,000 after buying an additional 638,452 shares in the last quarter. Vanguard Group Inc. boosted its stake in Boston Properties by 1.8% in the first quarter. Vanguard Group Inc. now owns 23,383,095 shares of the real estate investment trust’s stock worth $3,011,742,000 after buying an additional 404,123 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Boston Properties by 47.5% in the first quarter. Russell Investments Group Ltd. now owns 907,391 shares of the real estate investment trust’s stock worth $117,122,000 after buying an additional 292,091 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Boston Properties by 388.6% in the first quarter. American Century Companies Inc. now owns 333,058 shares of the real estate investment trust’s stock worth $42,898,000 after buying an additional 264,887 shares in the last quarter. Hedge funds and other institutional investors own 92.47% of the company’s stock.

Boston Properties Price Performance

BXP opened at $70.89 on Friday. The stock has a fifty day simple moving average of $74.75 and a two-hundred day simple moving average of $87.79. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 1.68. The company has a market cap of $11.11 billion, a price-to-earnings ratio of 12.22 and a beta of 1.05. Boston Properties, Inc. has a 12-month low of $68.80 and a 12-month high of $133.11.

Boston Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Friday, September 30th were issued a $0.98 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $3.92 dividend on an annualized basis and a yield of 5.53%. Boston Properties’s dividend payout ratio (DPR) is 67.59%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BXP. Evercore ISI cut their target price on Boston Properties from $100.00 to $99.00 in a research note on Tuesday, September 27th. Deutsche Bank Aktiengesellschaft lowered their price objective on Boston Properties from $104.00 to $94.00 and set a “buy” rating for the company in a research report on Thursday, October 13th. Robert W. Baird lowered their price objective on Boston Properties from $105.00 to $83.00 in a research report on Friday, September 23rd. TheStreet downgraded Boston Properties from a “b-” rating to a “c+” rating in a research report on Tuesday, September 6th. Finally, StockNews.com began coverage on Boston Properties in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $92.30.

Boston Properties Profile

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Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner 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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