BXP (NYSE:BXP) Stock Passes Above 200 Day Moving Average - Here's What Happened

Shares of BXP, Inc. (NYSE:BXP - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $68.57 and traded as high as $71.04. BXP shares last traded at $70.79, with a volume of 1,490,529 shares.

Analyst Upgrades and Downgrades

BXP has been the topic of several research reports. Jefferies Financial Group assumed coverage on shares of BXP in a research note on Monday, March 17th. They set a "buy" rating and a $78.00 price target on the stock. Truist Financial dropped their target price on shares of BXP from $75.00 to $71.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. Scotiabank lowered their price target on BXP from $83.00 to $81.00 and set a "sector perform" rating for the company in a research report on Monday. Mizuho set a $82.00 target price on BXP and gave the stock an "outperform" rating in a research report on Monday. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $86.00 price target (up previously from $85.00) on shares of BXP in a research report on Monday, June 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $79.08.

BXP Price Performance

The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of -3,497.10, a P/E/G ratio of 5.79 and a beta of 1.15. The stock has a fifty day simple moving average of $68.74 and a 200-day simple moving average of $68.44. The company has a debt-to-equity ratio of 2.04, a current ratio of 4.23 and a quick ratio of 4.23.

BXP (NYSE:BXP - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.01). The company had revenue of $865.22 million during the quarter, compared to analysts' expectations of $833.89 million. BXP had a negative net margin of 0.16% and a positive return on equity of 3.72%. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.73 earnings per share. On average, equities research analysts anticipate that BXP, Inc. will post 6.91 EPS for the current year.

BXP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date is Monday, June 30th. BXP's dividend payout ratio (DPR) is currently -19,600.00%.

Hedge Funds Weigh In On BXP

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its stake in BXP by 0.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,001,208 shares of the real estate investment trust's stock valued at $134,461,000 after buying an additional 17,385 shares in the last quarter. Deutsche Bank AG boosted its position in shares of BXP by 30.6% in the fourth quarter. Deutsche Bank AG now owns 949,603 shares of the real estate investment trust's stock valued at $70,612,000 after acquiring an additional 222,284 shares during the period. Whittier Trust Co. lifted its position in BXP by 3.5% in the fourth quarter. Whittier Trust Co. now owns 306,783 shares of the real estate investment trust's stock worth $22,812,000 after purchasing an additional 10,429 shares during the period. Nuveen LLC bought a new position in BXP in the first quarter worth $14,737,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of BXP by 7.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 144,123 shares of the real estate investment trust's stock valued at $10,717,000 after acquiring an additional 10,252 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

About BXP

Boston Properties, Inc NYSE: BXP (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.