BXP, Inc. (NYSE:BXP) Receives Average Rating of “Hold” from Brokerages

BXP, Inc. (NYSE:BXP) has been given an average recommendation of “Hold” by the twenty-one analysts that are presently covering the firm, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $75.00.

A number of equities analysts recently commented on the company. Citigroup dropped their price target on BXP from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Wells Fargo & Company lowered their target price on BXP from $77.00 to $74.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. Mizuho cut shares of BXP from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $79.00 to $62.00 in a research report on Tuesday, February 24th. Truist Financial reduced their price objective on BXP from $74.00 to $70.00 and set a “hold” rating on the stock in a research note on Monday, February 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $79.00 price objective on shares of BXP in a research report on Thursday, January 29th.

Insider Buying and Selling at BXP

In related news, CEO Owen D. Thomas sold 1,198 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $61.22, for a total value of $73,341.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Hilary J. Spann sold 5,495 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $59.69, for a total transaction of $327,996.55. Following the completion of the sale, the executive vice president directly owned 17,832 shares of the company’s stock, valued at approximately $1,064,392.08. The trade was a 23.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 7,887 shares of company stock worth $476,930. Insiders own 1.35% of the company’s stock.

Institutional Investors Weigh In On BXP

Hedge funds and other institutional investors have recently modified their holdings of the business. Allianz Asset Management GmbH raised its holdings in shares of BXP by 57.7% in the third quarter. Allianz Asset Management GmbH now owns 149,860 shares of the real estate investment trust’s stock valued at $11,141,000 after acquiring an additional 54,803 shares in the last quarter. Voya Investment Management LLC grew its holdings in BXP by 1.0% during the 3rd 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. Barclays PLC grew its holdings in BXP by 14.9% during the 3rd quarter. Barclays PLC now owns 1,261,556 shares of the real estate investment trust’s stock worth $93,784,000 after acquiring an additional 163,949 shares in the last quarter. Nan Fung Trinity HK Ltd. increased its position in BXP by 94.9% during 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 purchasing an additional 44,424 shares during the period. Finally, Swedbank AB increased its position in BXP by 13.9% during the 3rd quarter. Swedbank AB now owns 141,798 shares of the real estate investment trust’s stock valued at $10,541,000 after purchasing an additional 17,253 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

BXP Trading Up 1.8%

BXP stock opened at $53.02 on Tuesday. BXP has a 1 year low of $49.72 and a 1 year high of $79.33. The firm’s 50 day moving average price is $60.29 and its 200-day moving average price is $67.69. The company has a debt-to-equity ratio of 2.21, a current ratio of 5.36 and a quick ratio of 5.36. The stock has a market cap of $8.41 billion, a P/E ratio of 30.47, a PEG ratio of 2.22 and a beta of 1.01.

BXP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 5.3%. The ex-dividend date is Tuesday, March 31st. BXP’s dividend payout ratio is presently 160.92%.

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.