Key Points
- CEO Owen Thomas sold 1,198 shares of BXP on Feb. 13 at an average price of $61.22, a transaction totaling $73,341.56 (disclosed in an SEC filing).
- BXP declared a quarterly dividend of $0.70 per share (annualized $2.80), implying a 4.6% yield but a high payout ratio of 160.92%.
- Significant institutional buying was reported (e.g., Norges Bank’s new ~$689.4M stake and large increases by Cohen & Steers), leaving institutions owning 98.72% of the company.
BXP, Inc. (NYSE:BXP - Get Free Report) CEO Owen Thomas sold 1,198 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.22, for a total transaction of $73,341.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
BXP Trading Up 4.1%
NYSE BXP opened at $61.47 on Friday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 4.50 and a current ratio of 5.36. BXP, Inc. has a one year low of $54.22 and a one year high of $79.33. The company has a 50-day simple moving average of $66.88 and a 200-day simple moving average of $69.78. The firm has a market capitalization of $9.74 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 2.51 and a beta of 1.01.
BXP Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.80 annualized dividend and a dividend yield of 4.6%. BXP's payout ratio is 160.92%.
Analysts Set New Price Targets
Several research analysts have commented on BXP shares. UBS Group decreased their target price on shares of BXP from $74.00 to $71.00 and set a "neutral" rating for the company in a research report on Thursday, January 8th. Wells Fargo & Company reduced their price objective on BXP from $77.00 to $74.00 and set an "overweight" rating for the company in a research report on Tuesday, November 25th. Citigroup lowered their target price on BXP from $70.00 to $68.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 3rd. The Goldman Sachs Group set a $72.00 target price on BXP in a research note on Wednesday, February 4th. Finally, Scotiabank decreased their price target on BXP from $81.00 to $74.00 and set a "sector performer" rating for the company in a research note on Wednesday, January 14th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, BXP currently has an average rating of "Hold" and an average target price of $77.05.
View Our Latest Stock Analysis on BXP
Institutional Trading of BXP
Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of BXP in the fourth quarter worth approximately $689,419,000. Cohen & Steers Inc. boosted its holdings in shares of BXP by 41.4% during the 4th quarter. Cohen & Steers Inc. now owns 15,382,890 shares of the real estate investment trust's stock worth $1,038,176,000 after buying an additional 4,503,738 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of BXP by 32,286.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,889,115 shares of the real estate investment trust's stock worth $127,477,000 after acquiring an additional 1,883,282 shares during the last quarter. Invesco Ltd. increased its position in BXP by 44.9% during the third quarter. Invesco Ltd. now owns 3,896,978 shares of the real estate investment trust's stock worth $289,701,000 after acquiring an additional 1,207,607 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in BXP by 52.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,065,995 shares of the real estate investment trust's stock worth $206,893,000 after acquiring an additional 1,053,938 shares during the period. Institutional investors and hedge funds own 98.72% of the company's stock.
BXP Company Profile
(
Get Free Report)
Boston Properties, Inc (NYSE: BXP) is a publicly traded real estate investment trust (REIT) specializing in the ownership, management, and development of Class A office properties across major U.S. markets. Headquartered in Boston, Massachusetts, the company's portfolio comprises high-quality office buildings, mixed-use developments and select retail assets designed to serve leading corporations in key metropolitan areas.
Established in 1970 by Mortimer B. Zuckerman, Boston Properties has grown through disciplined acquisitions and strategic ground-up developments.
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