BXP, Inc. $BXP Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in BXP by 11.2% in Q4 to 198,019 shares, holding roughly 0.12% of the company worth about $13.36 million.
• BXP declared a quarterly dividend of $0.70 per share (annualized $2.80), a ~4.8% yield but with a high payout ratio of 160.92%.
• Analysts are mixed: the stock's consensus is a "Hold" with an average target of $73.60, and several firms recently trimmed their price targets despite many Buy/Hold ratings.

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BXP, Inc. (NYSE:BXP - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 198,019 shares of the real estate investment trust's stock after acquiring an additional 19,999 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.12% of BXP worth $13,362,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BXP. Muzinich & Co. Inc. acquired a new position in BXP in the third quarter valued at $27,000. Princeton Global Asset Management LLC increased its stake in BXP by 892.5% in the fourth quarter. Princeton Global Asset Management LLC now owns 397 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 357 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in BXP in the second quarter valued at $29,000. Avalon Trust Co acquired a new position in BXP in the third quarter valued at $36,000. Finally, Quent Capital LLC acquired a new position in BXP in the third quarter valued at $44,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings upgraded BXP from a "sell (d+)" rating to a "hold (c)" rating in a research note on Monday, March 2nd. The Goldman Sachs Group set a $72.00 target price on BXP in a research note on Wednesday, February 4th. Barclays dropped their target price on BXP from $81.00 to $66.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Truist Financial dropped their target price on BXP from $74.00 to $70.00 and set a "hold" rating for the company in a research note on Monday, February 2nd. Finally, JPMorgan Chase & Co. dropped their target price on BXP from $82.00 to $79.00 and set an "overweight" rating for the company in a research note on Wednesday, April 1st. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $73.60.

BXP Stock Performance

Shares of NYSE:BXP opened at $58.29 on Thursday. The firm has a market capitalization of $9.25 billion, a PE ratio of 33.50, a P/E/G ratio of 2.49 and a beta of 1.03. 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 business has a 50-day moving average of $55.34 and a two-hundred day moving average of $64.35. BXP, Inc. has a 12 month low of $49.72 and a 12 month high of $79.33.

BXP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.80 annualized dividend and a yield of 4.8%. BXP's dividend payout ratio is currently 160.92%.

Insider Activity

In other BXP news, EVP Hilary J. Spann sold 5,495 shares of the company'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 in the company, valued at $1,064,392.08. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Owen D. Thomas sold 1,198 shares of the company's stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $61.22, for a total value of $73,341.56. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,887 shares of company stock valued at $476,930 over the last 90 days. 1.50% of the stock is currently owned by 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.

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