California State Teachers Retirement System Sells 57,483 Shares of BXP, Inc. $BXP

Key Points

• California State Teachers Retirement System cut its BXP stake by 24.5%, selling 57,483 shares and retaining 177,521 shares worth approximately $9.2 million. Institutional investors collectively own 98.72% of the REIT.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and nine Holds producing a consensus “Moderate Buy” rating and a $73.11 target price.
• BXP reported quarterly EPS of $0.43, exceeding estimates of $0.40, while revenue rose 3.1% year over year to $895.7 million. The company also paid a quarterly dividend of $0.70 per share, representing a 4.0% annualized yield.

California State Teachers Retirement System lessened its position in shares of BXP, Inc. (NYSE:BXP - Free Report) by 24.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177,521 shares of the real estate investment trust's stock after selling 57,483 shares during the period. California State Teachers Retirement System owned approximately 0.11% of BXP worth $9,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of BXP in the 4th quarter valued at $689,419,000. Cohen & Steers Inc. boosted its stake in BXP by 41.4% in the fourth quarter. Cohen & Steers Inc. now owns 15,382,890 shares of the real estate investment trust's stock valued at $1,038,176,000 after buying an additional 4,503,738 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in BXP by 32,286.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,889,115 shares of the real estate investment trust's stock valued at $127,477,000 after buying an additional 1,883,282 shares in the last quarter. Invesco Ltd. boosted its stake in BXP by 44.9% in 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 in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in BXP by 52.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,065,995 shares of the real estate investment trust's stock valued at $206,893,000 after acquiring an additional 1,053,938 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on BXP. Mizuho raised their price target on shares of BXP from $62.00 to $68.00 and gave the company a "neutral" rating in a research note on Tuesday, July 21st. BMO Capital Markets reissued an "outperform" rating and issued a $68.00 price objective on shares of BXP in a research note on Tuesday, June 2nd. Evercore set a $68.00 target price on shares of BXP in a research report on Monday, July 6th. Wells Fargo & Company upped their price target on shares of BXP from $69.00 to $77.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. Finally, Cantor Fitzgerald dropped their price target on BXP from $79.00 to $70.00 and set an "overweight" rating for the company in a research note on Friday, May 15th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, BXP presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.11.

BXP Price Performance

Shares of NYSE:BXP opened at $70.62 on Tuesday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 4.22 and a current ratio of 3.91. BXP, Inc. has a 52 week low of $49.72 and a 52 week high of $79.33. The firm has a market cap of $11.26 billion, a PE ratio of 37.97, a price-to-earnings-growth ratio of 3.01 and a beta of 1.01. The firm's fifty day moving average is $66.30 and its 200-day moving average is $61.17.

BXP (NYSE:BXP - Get Free Report) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. BXP had a return on equity of 3.88% and a net margin of 8.44%.The business had revenue of $895.70 million during the quarter, compared to analyst estimates of $858.07 million. During the same period last year, the company earned $1.71 EPS. BXP's revenue for the quarter was up 3.1% compared to the same quarter last year. BXP has set its FY 2026 guidance at 6.990-7.050 EPS and its Q3 2026 guidance at 1.800-1.820 EPS. Sell-side analysts predict that BXP, Inc. will post 7 earnings per share for the current year.

BXP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 30th. BXP's dividend payout ratio is currently 150.54%.

Insider Buying and Selling at BXP

In related news, SVP Eric G. Kevorkian sold 2,000 shares of BXP stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $59.85, for a total transaction of $119,700.00. Following the completion of the transaction, the senior vice president owned 311 shares of the company's stock, valued at $18,613.35. This trade represents a 86.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter V. Otteni sold 4,863 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were 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. In the last 90 days, insiders sold 33,176 shares of company stock valued at $2,151,552. 1.50% of the stock is currently owned by company insiders.

BXP Company Profile

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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