Envestnet Asset Management Inc. Cuts Stock Holdings in BXP, Inc. $BXP

Envestnet Asset Management Inc. lowered its stake in BXP, Inc. (NYSE:BXP) by 12.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 413,591 shares of the real estate investment trust’s stock after selling 58,172 shares during the period. Envestnet Asset Management Inc. owned approximately 0.26% of BXP worth $30,746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Callan Family Office LLC purchased a new position in BXP in the 2nd quarter worth approximately $202,000. Apollon Wealth Management LLC bought a new position in shares of BXP in the second quarter worth approximately $220,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of BXP by 14.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 28,792 shares of the real estate investment trust’s stock worth $1,943,000 after purchasing an additional 3,666 shares during the last quarter. CWM LLC increased its stake in shares of BXP by 5.2% in the second quarter. CWM LLC now owns 7,213 shares of the real estate investment trust’s stock worth $487,000 after buying an additional 355 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in BXP by 10.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,316 shares of the real estate investment trust’s stock valued at $426,000 after buying an additional 592 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling at BXP

In other news, EVP Raymond A. Ritchey sold 36,314 shares of BXP stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $72.18, for a total transaction of $2,621,144.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Hilary J. Spann sold 1,194 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $1,128,943.92. The trade was a 6.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 41,644 shares of company stock valued at $2,997,217. Corporate insiders own 1.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Evercore decreased their price objective on shares of BXP from $76.00 to $73.00 and set an “in-line” rating on the stock in a research report on Thursday, January 29th. UBS Group reduced their price target on BXP from $74.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Royal Bank Of Canada raised BXP to an “outperform” rating in a research report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $70.00 price objective on shares of BXP in a research report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of BXP in a research note on Monday, December 29th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BXP currently has an average rating of “Hold” and an average target price of $77.05.

BXP Price Performance

Shares of BXP stock opened at $61.90 on Thursday. The business’s fifty day moving average is $67.26 and its 200 day moving average is $69.92. The company has a quick ratio of 4.50, a current ratio of 5.36 and a debt-to-equity ratio of 2.21. The stock has a market cap of $9.81 billion, a price-to-earnings ratio of -48.74, a PEG ratio of 2.81 and a beta of 1.01. BXP, Inc. has a twelve month low of $54.22 and a twelve month high of $79.33.

BXP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Wednesday, December 31st were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Wednesday, December 31st. BXP’s dividend payout ratio is -220.47%.

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.