Allspring Global Investments Holdings LLC Lowers Holdings in BXP, Inc. $BXP

Allspring Global Investments Holdings LLC reduced its stake in shares of BXP, Inc. (NYSE:BXP) by 27.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,069,157 shares of the real estate investment trust’s stock after selling 796,144 shares during the period. Allspring Global Investments Holdings LLC owned 1.31% of BXP worth $140,330,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH boosted its holdings in 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 during the last quarter. Barclays PLC raised its holdings in BXP by 14.9% in the third quarter. Barclays PLC now owns 1,261,556 shares of the real estate investment trust’s stock valued at $93,784,000 after buying an additional 163,949 shares during the period. Voya Investment Management LLC lifted 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 valued at $110,835,000 after buying an additional 15,507 shares in the last quarter. Nan Fung Trinity HK Ltd. grew its stake in BXP by 94.9% during the third quarter. Nan Fung Trinity HK Ltd. now owns 91,224 shares of the real estate investment trust’s stock worth $6,782,000 after buying an additional 44,424 shares during the period. Finally, Swedbank AB grew its stake in BXP by 13.9% during the third quarter. Swedbank AB now owns 141,798 shares of the real estate investment trust’s stock worth $10,541,000 after buying an additional 17,253 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on BXP. The Goldman Sachs Group set a $72.00 target price on shares of BXP in a research note on Wednesday, February 4th. Truist Financial decreased their price target on shares of BXP from $74.00 to $70.00 and set a “hold” rating for the company in a research report on Monday, February 2nd. Weiss Ratings upgraded BXP from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, March 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $79.00 price objective on shares of BXP in a research report on Thursday, January 29th. Finally, JPMorgan Chase & Co. reduced their price objective on BXP from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $75.00.

BXP Stock Performance

NYSE:BXP opened at $51.79 on Tuesday. 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 firm has a 50-day moving average of $58.82 and a two-hundred day moving average of $66.89. The stock has a market cap of $8.22 billion, a P/E ratio of 29.77, a PEG ratio of 2.19 and a beta of 1.01. BXP, Inc. has a 1-year low of $49.72 and a 1-year high of $79.33.

BXP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.70 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.80 annualized dividend and a dividend yield of 5.4%. BXP’s payout ratio is 160.92%.

Insider Transactions at BXP

In other BXP news, CEO Owen D. Thomas sold 1,198 shares of the company’s stock in a transaction that occurred 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 document filed with the SEC, which is available through this hyperlink. Also, EVP Hilary J. Spann sold 5,495 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $59.69, for a total value of $327,996.55. Following the transaction, the executive vice president owned 17,832 shares of the company’s stock, valued at approximately $1,064,392.08. This trade represents a 23.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 7,887 shares of company stock valued at $476,930 in the last three months. 1.35% of the stock is currently owned by company insiders.

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.