Neuberger Berman Group LLC Sells 55,280 Shares of BXP, Inc. $BXP

Key Points

• Neuberger Berman cut its BXP stake by 65.8% in Q3, selling 55,280 shares and leaving 28,790 shares worth about $2.14 million.
• Company insiders have been net sellers recently — including CEO Owen D. Thomas and EVP Hilary J. Spann — with 7,887 insider shares sold (~$476,930) over the last 90 days; insiders now own 1.49% of the stock.
• BXP pays a quarterly dividend of $0.70 (annualized $2.80) for a 5.3% yield

Neuberger Berman Group LLC trimmed its holdings in BXP, Inc. (NYSE:BXP - Free Report) by 65.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,790 shares of the real estate investment trust's stock after selling 55,280 shares during the period. Neuberger Berman Group LLC's holdings in BXP were worth $2,140,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Barclays PLC raised its stake in BXP by 14.9% in the 3rd quarter. Barclays PLC now owns 1,261,556 shares of the real estate investment trust's stock valued at $93,784,000 after acquiring an additional 163,949 shares during the period. Dimensional Fund Advisors LP lifted its position in BXP by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,256,924 shares of the real estate investment trust's stock worth $167,785,000 after acquiring an additional 37,438 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of BXP by 114.7% in the third quarter. Victory Capital Management Inc. now owns 88,469 shares of the real estate investment trust's stock valued at $6,577,000 after purchasing an additional 47,259 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of BXP by 18.8% during the third quarter. Fisher Asset Management LLC now owns 250,316 shares of the real estate investment trust's stock worth $18,609,000 after purchasing an additional 39,682 shares during the period. Finally, APG Asset Management US Inc. lifted its holdings in BXP by 3.2% during the 3rd quarter. APG Asset Management US Inc. now owns 7,401,513 shares of the real estate investment trust's stock worth $564,883,000 after purchasing an additional 232,591 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BXP

In other BXP news, CEO Owen D. Thomas sold 1,198 shares of the firm's stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.22, for a total value of $73,341.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Hilary J. Spann sold 5,495 shares of BXP stock in a transaction 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 transaction, the executive vice president owned 17,832 shares in the company, valued at approximately $1,064,392.08. The trade was a 23.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,887 shares of company stock valued at $476,930 over the last 90 days. Corporate insiders own 1.49% of the company's stock.

BXP Price Performance

Shares of NYSE:BXP opened at $52.96 on Friday. The firm has a 50 day moving average of $63.58 and a 200-day moving average of $69.11. BXP, Inc. has a 12 month low of $52.82 and a 12 month high of $79.33. The company has a current ratio of 5.36, a quick ratio of 4.50 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $8.40 billion, a PE ratio of 30.44, a PEG ratio of 2.26 and a beta of 1.01.

BXP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, December 31st. This represents a $2.80 annualized dividend and a yield of 5.3%. BXP's dividend payout ratio is presently 160.92%.

Wall Street Analysts Forecast Growth

BXP has been the topic of a number of research reports. KeyCorp raised BXP from a "sector weight" rating to an "overweight" rating and set a $80.00 price objective on the stock in a report on Thursday, December 4th. UBS Group reduced their target price on shares of BXP from $74.00 to $71.00 and set a "neutral" rating for the company in a research report on Thursday, January 8th. Mizuho lowered shares of BXP from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $79.00 to $62.00 in a research report on Tuesday, February 24th. Royal Bank Of Canada upgraded shares of BXP to an "outperform" rating in a research note on Thursday, December 4th. Finally, Truist Financial cut their price objective on shares of BXP from $74.00 to $70.00 and set a "hold" rating for the company in a report on Monday, February 2nd. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $75.00.

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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