BXP, Inc. (NYSE:BXP) Stock Position Boosted by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC boosted its holdings in shares of BXP, Inc. (NYSE:BXP - Free Report) by 66.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the real estate investment trust's stock after purchasing an additional 40,000 shares during the period. Pacific Heights Asset Management LLC owned about 0.06% of BXP worth $6,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canada Post Corp Registered Pension Plan purchased a new position in BXP in the fourth quarter valued at $32,000. Sentry Investment Management LLC purchased a new stake in shares of BXP during the first quarter worth about $34,000. Huntington National Bank increased its stake in shares of BXP by 29.8% during the fourth quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust's stock worth $85,000 after purchasing an additional 263 shares in the last quarter. Hurley Capital LLC purchased a new stake in shares of BXP during the fourth quarter worth about $94,000. Finally, Kelly Lawrence W & Associates Inc. CA increased its stake in shares of BXP by 75.4% during the fourth quarter. Kelly Lawrence W & Associates Inc. CA now owns 2,500 shares of the real estate investment trust's stock worth $186,000 after purchasing an additional 1,075 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Barclays cut their target price on shares of BXP from $89.00 to $79.00 and set an "equal weight" rating for the company in a research note on Friday, March 14th. JPMorgan Chase & Co. raised shares of BXP from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $72.00 to $78.00 in a research note on Monday, June 23rd. Jefferies Financial Group assumed coverage on shares of BXP in a research note on Monday, March 17th. They set a "buy" rating and a $78.00 price objective for the company. Truist Financial dropped their price objective on shares of BXP from $75.00 to $71.00 and set a "hold" rating for the company in a research note on Tuesday, May 27th. Finally, Piper Sandler dropped their price objective on shares of BXP from $100.00 to $85.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, BXP presently has an average rating of "Hold" and an average target price of $79.54.

BXP Trading Down 2.2%

BXP stock traded down $1.49 during trading on Monday, reaching $67.34. The company had a trading volume of 1,560,564 shares, compared to its average volume of 1,347,596. The company has a debt-to-equity ratio of 2.04, a quick ratio of 4.23 and a current ratio of 4.23. BXP, Inc. has a 12-month low of $54.22 and a 12-month high of $90.11. The stock's 50 day moving average price is $68.19 and its two-hundred day moving average price is $68.69. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of -3,365.32, a PEG ratio of 5.63 and a beta of 1.15.

BXP (NYSE:BXP - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.64 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.01). BXP had a positive return on equity of 3.72% and a negative net margin of 0.16%. The firm had revenue of $865.22 million for the quarter, compared to analyst estimates of $833.89 million. During the same period in the previous year, the firm posted $1.73 earnings per share. The company's revenue for the quarter was up 3.1% on a year-over-year basis. As a group, equities analysts expect that BXP, Inc. will post 6.91 earnings per share for the current fiscal year.

BXP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.82%. BXP's dividend payout ratio (DPR) is -19,600.00%.

BXP Profile

Boston Properties, Inc NYSE: BXP (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.