Pacific Heights Asset Management LLC Boosts Stock Position in BXP, Inc. (NYSE:BXP)

Pacific Heights Asset Management LLC lifted its stake in shares of BXP, Inc. (NYSE:BXP - Free Report) by 66.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the real estate investment trust's stock after acquiring an additional 40,000 shares during the quarter. Pacific Heights Asset Management LLC owned approximately 0.06% of BXP worth $6,719,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Canada Post Corp Registered Pension Plan bought a new position in BXP in the 4th quarter worth approximately $32,000. Sentry Investment Management LLC purchased a new position in shares of BXP in the first quarter valued at $34,000. Huntington National Bank grew its holdings in shares of BXP by 29.8% in the fourth quarter. Huntington National Bank now owns 1,145 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 263 shares in the last quarter. Hurley Capital LLC purchased a new position in shares of BXP in the fourth quarter valued at $94,000. Finally, Kelly Lawrence W & Associates Inc. CA lifted its position in BXP by 75.4% in 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 buying an additional 1,075 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

BXP Stock Up 0.8%

Shares of BXP stock traded up $0.56 during trading on Friday, hitting $68.83. 774,253 shares of the stock traded hands, compared to its average volume of 1,347,136. The firm has a market cap of $10.90 billion, a P/E ratio of -3,439.78, a price-to-earnings-growth ratio of 5.63 and a beta of 1.15. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 2.04. BXP, Inc. has a 52-week low of $54.22 and a 52-week high of $90.11. The stock's fifty day simple moving average is $68.19 and its 200 day simple moving average is $68.76.

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

BXP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.92 annualized dividend and a yield of 5.70%. BXP's dividend payout ratio (DPR) is presently -19,600.00%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BXP. Truist Financial lowered their price target on BXP from $75.00 to $71.00 and set a "hold" rating for the company in a research report on Tuesday, May 27th. BMO Capital Markets reiterated an "outperform" rating and set a $86.00 target price (up from $85.00) on shares of BXP in a research report on Monday, June 23rd. Jefferies Financial Group initiated coverage on BXP in a research report on Monday, March 17th. They set a "buy" rating and a $78.00 target price for the company. UBS Group decreased their target price on BXP from $80.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Finally, Barclays decreased their target price on BXP from $89.00 to $79.00 and set an "equal weight" rating for the company in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $79.54.

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.