Davis Selected Advisers Has $17.82 Million Holdings in BXP, Inc. $BXP

Key Points

• Davis Selected Advisers raised its stake in BXP by 14.4% in Q3 to 239,760 shares, a position valued at about $17.82 million (0.15% of the company).
• Analysts have a consensus rating of "Hold" on BXP with a consensus target price of $75.00, and several firms have recently trimmed their price targets.
• Company insiders sold 7,887 shares (roughly $476,930) over the past three months and now own 1.49% of BXP, while institutional investors hold about 98.72% of the stock.

Davis Selected Advisers raised its position in shares of BXP, Inc. (NYSE:BXP - Free Report) by 14.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,760 shares of the real estate investment trust's stock after purchasing an additional 30,130 shares during the period. Davis Selected Advisers owned 0.15% of BXP worth $17,824,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Triumph Capital Management acquired a new stake in BXP in the third quarter valued at approximately $129,000. Allworth Financial LP raised its holdings in shares of BXP by 29.7% during the 3rd quarter. Allworth Financial LP now owns 1,339 shares of the real estate investment trust's stock valued at $100,000 after purchasing an additional 307 shares in the last quarter. Swiss Life Asset Management Ltd lifted its stake in shares of BXP by 55.0% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 33,085 shares of the real estate investment trust's stock valued at $2,460,000 after purchasing an additional 11,736 shares during the last quarter. Cambria Investment Management L.P. lifted its stake in shares of BXP by 15.6% in the 3rd quarter. Cambria Investment Management L.P. now owns 8,401 shares of the real estate investment trust's stock valued at $625,000 after purchasing an additional 1,135 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in BXP by 107.7% in the third quarter. CIBC Private Wealth Group LLC now owns 1,724 shares of the real estate investment trust's stock worth $128,000 after purchasing an additional 894 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on BXP shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $70.00 price target on shares of BXP in a research report on Tuesday, January 6th. The Goldman Sachs Group set a $72.00 price objective on BXP in a research note on Wednesday, February 4th. Mizuho cut BXP from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $79.00 to $62.00 in a research report on Tuesday, February 24th. Citigroup lowered their price target on BXP from $70.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday, February 3rd. Finally, UBS Group reduced their price objective on shares of BXP from $74.00 to $71.00 and set a "neutral" rating for the company in a research note on Thursday, January 8th. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $75.00.

BXP Stock Performance

BXP opened at $52.96 on Thursday. The firm has a market capitalization of $8.40 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The stock's 50 day moving average price is $61.16 and its two-hundred day moving average price is $68.16. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 2.21. BXP, Inc. has a 12-month low of $49.72 and a 12-month high of $79.33.

Insider Activity at BXP

In other news, EVP Hilary J. Spann sold 5,495 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was 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 directly owned 17,832 shares of the company's stock, valued at approximately $1,064,392.08. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Owen D. Thomas sold 1,198 shares of the business's stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.22, for a total transaction of $73,341.56. The SEC filing for this sale provides additional information. Insiders sold 7,887 shares of company stock valued at $476,930 over the last three months. 1.49% of the stock is owned by company insiders.

BXP 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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