Norges Bank Purchases New Shares in BXP, Inc. $BXP

Key Points

• Norges Bank disclosed a new stake in BXP, buying 10.2 million shares valued at about $689.4 million, and now owns 6.45% of the REIT.
• BXP reported quarterly earnings of $0.64 per share, well below analyst estimates of $1.58, even though revenue came in slightly ahead of expectations at $872.15 million.
• The company pays a quarterly dividend of $0.70 per share for an annualized yield of 4.7%, while analysts currently have a consensus rating of Hold with an average price target of $71.30.

Norges Bank purchased a new stake in shares of BXP, Inc. (NYSE:BXP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,216,641 shares of the real estate investment trust's stock, valued at approximately $689,419,000. Norges Bank owned 6.45% of BXP as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. APG Asset Management US Inc. raised 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 valued at $564,883,000 after buying an additional 232,591 shares during the period. Geode Capital Management LLC increased its stake in BXP by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,270,027 shares of the real estate investment trust's stock worth $287,121,000 after purchasing an additional 55,621 shares during the period. Invesco Ltd. increased 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 worth $289,701,000 after purchasing an additional 1,207,607 shares during the period. Boston Partners increased its stake in BXP by 17.6% in the third quarter. Boston Partners now owns 3,538,351 shares of the real estate investment trust's stock worth $263,031,000 after purchasing an additional 529,158 shares during the period. Finally, Northern Trust Corp increased its stake in BXP by 3.9% in the third quarter. Northern Trust Corp now owns 3,411,777 shares of the real estate investment trust's stock worth $253,632,000 after purchasing an additional 127,948 shares during the period. Hedge funds and other institutional investors own 98.72% of the company's stock.

BXP Price Performance

Shares of BXP stock opened at $60.09 on Monday. BXP, Inc. has a 1-year low of $49.72 and a 1-year high of $79.33. The stock's 50-day moving average is $56.47 and its 200 day moving average is $62.10. The company has a market cap of $9.58 billion, a P/E ratio of 30.19, a PEG ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 2.07, a current ratio of 4.22 and a quick ratio of 4.22.

BXP (NYSE:BXP - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.94). BXP had a net margin of 9.09% and a return on equity of 4.13%. The company had revenue of $872.15 million for the quarter, compared to the consensus estimate of $843.11 million. During the same period in the previous year, the business earned $1.64 EPS. BXP's revenue for the quarter was up .8% compared to the same quarter last year. BXP has set its Q2 2026 guidance at 1.690-1.710 EPS. Research analysts predict that BXP, Inc. will post 6.95 earnings per share for the current fiscal year.

BXP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, March 31st were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.80 dividend on an annualized basis and a yield of 4.7%. BXP's dividend payout ratio (DPR) is presently 140.70%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on BXP from $82.00 to $79.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings lowered BXP from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. Cantor Fitzgerald dropped their price target on BXP from $79.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday, May 15th. UBS Group dropped their price target on BXP from $66.00 to $61.00 and set a "neutral" rating on the stock in a research report on Thursday, May 14th. Finally, The Goldman Sachs Group set a $72.00 price target on BXP in a research report on Wednesday, February 4th. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $71.30.

Insider Transactions at BXP

In other BXP news, EVP Peter V. Otteni sold 4,863 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $59.06, for a total value of $287,208.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eric G. Kevorkian sold 2,000 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $59.85, for a total value of $119,700.00. Following the completion of the sale, the senior vice president directly owned 311 shares of the company's stock, valued at approximately $18,613.35. This represents a 86.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 7,063 shares of company stock worth $418,955. 1.50% of the stock is owned by corporate 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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