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BXP, Inc. $BXP Shares Sold by Massachusetts Financial Services Co. MA

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Key Points

  • Massachusetts Financial Services reduced its stake in BXP by 24.5%, selling 367,784 shares and leaving it with 1,134,282 shares (about 0.72% of the company) worth roughly $76.54 million.
  • BXP declared a quarterly dividend of $0.70 (annualized $2.80) for a 5.2% yield with an ex-dividend date of March 31 and payout on April 30, though the dividend payout ratio is a high 160.92%.
  • Analysts have a consensus rating of Hold with an average target price of $74.10 versus the recent share price near $53.48, and institutional investors own about 98.72% of the stock.
  • MarketBeat previews top five stocks to own in May.

Massachusetts Financial Services Co. MA lowered its holdings in shares of BXP, Inc. (NYSE:BXP - Free Report) by 24.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,134,282 shares of the real estate investment trust's stock after selling 367,784 shares during the period. Massachusetts Financial Services Co. MA owned about 0.72% of BXP worth $76,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BXP. Allianz Asset Management GmbH raised its position in shares of 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 buying an additional 54,803 shares during the last quarter. SG Americas Securities LLC boosted its position in BXP by 546.2% during the fourth quarter. SG Americas Securities LLC now owns 43,708 shares of the real estate investment trust's stock worth $2,949,000 after acquiring an additional 36,944 shares during the last quarter. Barclays PLC boosted its position in BXP by 14.9% during the third quarter. Barclays PLC now owns 1,261,556 shares of the real estate investment trust's stock worth $93,784,000 after acquiring an additional 163,949 shares during the last quarter. Voya Investment Management LLC boosted 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 worth $110,835,000 after acquiring an additional 15,507 shares during the last quarter. Finally, Nan Fung Trinity HK Ltd. boosted its position 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 acquiring an additional 44,424 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

BXP Trading Up 0.9%

NYSE BXP opened at $53.48 on Tuesday. BXP, Inc. has a one year low of $49.72 and a one year high of $79.33. The company's 50 day moving average price is $56.27 and its 200 day moving average price is $65.16. The company has a debt-to-equity ratio of 2.21, a quick ratio of 5.36 and a current ratio of 5.36. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.26 and a beta of 1.03.

BXP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.80 annualized dividend and a yield of 5.2%. BXP's dividend payout ratio (DPR) is 160.92%.

Insider Activity at BXP

In other BXP news, 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 completion of the sale, the executive vice president owned 17,832 shares of the company's stock, valued at $1,064,392.08. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Owen D. Thomas sold 1,198 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $61.22, for a total transaction of $73,341.56. The disclosure for this sale is available in the SEC filing. Insiders sold 7,887 shares of company stock valued at $476,930 in the last ninety days. 1.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BXP. Weiss Ratings upgraded shares of BXP from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, March 2nd. Truist Financial decreased their target price on shares of BXP from $74.00 to $70.00 and set a "hold" rating on the stock in a research report on Monday, February 2nd. The Goldman Sachs Group set a $72.00 target price on shares of BXP in a research report on Wednesday, February 4th. Cantor Fitzgerald restated an "overweight" rating and set a $79.00 target price on shares of BXP in a research report on Thursday, January 29th. Finally, JPMorgan Chase & Co. decreased their target price on shares of BXP from $82.00 to $79.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 1st. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $74.10.

Get Our Latest Stock Analysis on BXP

BXP Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for BXP (NYSE:BXP)

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