Allianz Asset Management GmbH Increases Position in BXP, Inc. $BXP

Allianz Asset Management GmbH increased its holdings in shares of BXP, Inc. (NYSE:BXP) by 57.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 149,860 shares of the real estate investment trust’s stock after acquiring an additional 54,803 shares during the period. Allianz Asset Management GmbH owned about 0.09% of BXP worth $11,141,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Loomis Sayles & Co. L P bought a new stake in BXP during the 2nd quarter valued at about $25,000. Muzinich & Co. Inc. purchased a new position in shares of BXP during the third quarter worth approximately $27,000. MUFG Securities EMEA plc bought a new stake in shares of BXP during the second quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of BXP in the second quarter valued at approximately $43,000. Finally, Rothschild Investment LLC grew its stake in BXP by 67.1% in the second quarter. Rothschild Investment LLC now owns 635 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Activity

In other news, EVP Hilary J. Spann sold 1,194 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $63.31, for a total value of $75,592.14. Following the completion of the sale, the executive vice president owned 17,832 shares of the company’s stock, valued at $1,128,943.92. This trade represents a 6.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John J. Stroman sold 16,838 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $72.17, for a total value of $1,215,198.46. The SEC filing for this sale provides additional information. Insiders have sold 58,482 shares of company stock valued at $4,212,416 in the last ninety days. 1.35% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BXP. Evercore decreased their target price on BXP from $76.00 to $73.00 and set an “in-line” rating for the company in a research report on Thursday, January 29th. The Goldman Sachs Group set a $72.00 price target on BXP in a research note on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $79.00 price objective on shares of BXP in a research note on Thursday, January 29th. New Street Research set a $85.00 target price on shares of BXP in a report on Monday, October 13th. Finally, Jefferies Financial Group raised their target price on shares of BXP from $79.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.05.

BXP Price Performance

BXP opened at $64.73 on Monday. The firm has a market capitalization of $10.26 billion, a PE ratio of -50.97, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. The company has a debt-to-equity ratio of 2.21, a current ratio of 5.36 and a quick ratio of 4.50. The business’s 50-day moving average is $67.70 and its two-hundred day moving average is $70.05. BXP, Inc. has a 1 year low of $54.22 and a 1 year high of $79.33.

BXP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Wednesday, December 31st were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.80 dividend on an annualized basis and a yield of 4.3%. BXP’s dividend payout ratio is presently -220.47%.

BXP Profile

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.