Bank of New York Mellon Corp Sells 301,687 Shares of BXP, Inc. $BXP

Key Points

• Bank of New York Mellon cut its BXP stake by 22% in the fourth quarter, selling 301,687 shares and ending with 1,070,132 shares worth about $72.2 million.
• BXP reported weaker-than-expected quarterly earnings, posting $0.64 EPS versus the $1.58 estimate, even though revenue of $872.15 million slightly topped expectations.
• Analyst sentiment remains mixed: the stock has a consensus rating of “Hold” with an average price target of $70.65, while several firms adjusted targets and ratings in both directions.

Bank of New York Mellon Corp lowered its position in BXP, Inc. (NYSE:BXP - Free Report) by 22.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,070,132 shares of the real estate investment trust's stock after selling 301,687 shares during the quarter. Bank of New York Mellon Corp owned about 0.68% of BXP worth $72,212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BXP. Norges Bank purchased a new stake in BXP during the fourth quarter valued at about $689,419,000. Invesco Ltd. boosted its position in BXP by 44.9% during the third quarter. Invesco Ltd. now owns 3,896,978 shares of the real estate investment trust's stock valued at $289,701,000 after buying an additional 1,207,607 shares during the period. Daiwa Securities Group Inc. boosted its position in BXP by 76.8% during the third quarter. Daiwa Securities Group Inc. now owns 2,012,057 shares of the real estate investment trust's stock valued at $149,576,000 after buying an additional 873,974 shares during the period. Bamco Inc. NY purchased a new stake in BXP during the second quarter valued at about $38,580,000. Finally, Boston Partners boosted its position in BXP by 17.6% during the third quarter. Boston Partners now owns 3,538,351 shares of the real estate investment trust's stock valued at $263,031,000 after buying an additional 529,158 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

BXP Trading Up 3.1%

NYSE:BXP opened at $66.56 on Wednesday. The company's 50 day moving average price is $57.83 and its 200-day moving average price is $61.70. BXP, Inc. has a 52 week low of $49.72 and a 52 week high of $79.33. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 2.07. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 2.79 and a beta of 1.04.

BXP (NYSE:BXP - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.94). BXP had a net margin of 9.09% and a return on equity of 4.13%. The firm had revenue of $872.15 million for the quarter, compared to analysts' expectations of $843.11 million. During the same quarter in the previous year, the company earned $1.64 EPS. The company's quarterly revenue was up .8% compared to the same quarter last year. BXP has set its Q2 2026 guidance at 1.690-1.710 EPS. On average, equities research analysts forecast that BXP, Inc. will post 6.95 earnings per share for the current fiscal year.

BXP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.70 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.80 dividend on an annualized basis and a yield of 4.2%. BXP's payout ratio is currently 140.70%.

Insiders Place Their Bets

In other BXP news, SVP Eric G. Kevorkian sold 2,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $59.85, for a total value of $119,700.00. Following the transaction, the senior vice president directly owned 311 shares in the company, valued at approximately $18,613.35. This trade represents a 86.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter V. Otteni sold 4,863 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $59.06, for a total transaction of $287,208.78. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 7,063 shares of company stock valued at $418,955. Company insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Barclays lowered their price objective on shares of BXP from $66.00 to $65.00 and set an "overweight" rating for the company in a research note on Monday, May 18th. Wells Fargo & Company upped their price objective on shares of BXP from $69.00 to $77.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Wall Street Zen downgraded shares of BXP from a "hold" rating to a "sell" rating in a research note on Saturday. Truist Financial lowered their price objective on shares of BXP from $70.00 to $64.00 and set a "hold" rating for the company in a research note on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft set a $61.00 price target on shares of BXP in a research report on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, BXP presently has a consensus rating of "Hold" and an average price target of $70.65.

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.

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