Citigroup Inc. Has $13.85 Million Stake in BXP, Inc. $BXP

Citigroup Inc. trimmed its position in BXP, Inc. (NYSE:BXP) by 21.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 186,252 shares of the real estate investment trust’s stock after selling 50,967 shares during the period. Citigroup Inc. owned approximately 0.12% of BXP worth $13,846,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH raised its stake in shares of BXP by 57.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 149,860 shares of the real estate investment trust’s stock worth $11,141,000 after purchasing an additional 54,803 shares in the last quarter. Voya Investment Management LLC raised its position in BXP by 1.0% during the third quarter. Voya Investment Management LLC now owns 1,492,925 shares of the real estate investment trust’s stock worth $110,835,000 after acquiring an additional 15,507 shares in the last quarter. Swedbank AB lifted its stake in BXP by 13.9% in the third quarter. Swedbank AB now owns 141,798 shares of the real estate investment trust’s stock valued at $10,541,000 after acquiring an additional 17,253 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of BXP in the 2nd quarter valued at about $306,000. Finally, Nan Fung Trinity HK Ltd. grew its position in shares of BXP by 94.9% in the 3rd quarter. Nan Fung Trinity HK Ltd. now owns 91,224 shares of the real estate investment trust’s stock valued at $6,782,000 after acquiring an additional 44,424 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Insider Activity

In other BXP news, CEO Owen D. Thomas sold 1,198 shares of BXP stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.22, for a total value of $73,341.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Hilary J. Spann sold 1,194 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $63.31, for a total value of $75,592.14. Following the sale, the executive vice president owned 17,832 shares of the company’s stock, valued at approximately $1,128,943.92. The trade was a 6.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 38,706 shares of company stock worth $2,770,078. Corporate insiders own 1.49% of the company’s stock.

BXP Trading Down 5.7%

BXP stock opened at $57.69 on Friday. BXP, Inc. has a 52 week low of $54.22 and a 52 week high of $79.33. The company has a market capitalization of $9.14 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 2.60 and a beta of 1.01. The company’s 50-day simple moving average is $64.97 and its 200 day simple moving average is $69.43. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Wednesday, December 31st were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Wednesday, December 31st. BXP’s payout ratio is presently 160.92%.

Analysts Set New Price Targets

A number of research firms recently commented on BXP. Wells Fargo & Company reduced their price target on BXP from $77.00 to $74.00 and set an “overweight” rating for the company in a report on Tuesday, November 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $79.00 target price on shares of BXP in a research note on Thursday, January 29th. Evercore dropped their price target on BXP from $76.00 to $73.00 and set an “in-line” rating on the stock in a research note on Thursday, January 29th. JPMorgan Chase & Co. reduced their price objective on shares of BXP from $83.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of BXP in a research report on Monday, December 29th. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $75.45.

About BXP

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.