Resona Asset Management Co. Ltd. Reduces Position in BXP, Inc. $BXP

Key Points

• Resona Asset Management cut its BXP stake by 22.1% in the first quarter, selling 18,995 shares and ending with 67,146 shares valued at about $3.48 million.
• Several insiders sold stock recently, including SVP Eric G. Kevorkian and CFO Michael E. Labelle, while insiders currently own about 1.5% of the company.
• BXP reported mixed quarterly results, missing EPS estimates but beating revenue expectations; the company also maintained a quarterly dividend of $0.70 per share, yielding about 4.2%.

Resona Asset Management Co. Ltd. decreased its holdings in shares of BXP, Inc. (NYSE:BXP - Free Report) by 22.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,146 shares of the real estate investment trust's stock after selling 18,995 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in BXP were worth $3,480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cohen & Steers Inc. boosted its holdings in BXP by 41.4% during the 4th quarter. Cohen & Steers Inc. now owns 15,382,890 shares of the real estate investment trust's stock valued at $1,038,176,000 after acquiring an additional 4,503,738 shares during the period. Norges Bank purchased a new stake in BXP in the fourth quarter worth $689,419,000. 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. lifted its position in shares of BXP by 5.2% during the fourth quarter. Invesco Ltd. now owns 4,101,236 shares of the real estate investment trust's stock worth $276,751,000 after purchasing an additional 204,258 shares during the last quarter. Finally, Boston Partners lifted its position in shares of BXP by 17.6% during 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 last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Eric G. Kevorkian sold 2,000 shares of BXP stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $59.85, for a total transaction of $119,700.00. Following the transaction, the senior vice president directly owned 311 shares of the company's stock, valued at $18,613.35. This trade represents a 86.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael E. Labelle sold 26,113 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $66.35, for a total transaction of $1,732,597.55. Following the completion of the transaction, the chief financial officer directly owned 5,839 shares of the company's stock, valued at $387,417.65. This trade represents a 81.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 33,176 shares of company stock worth $2,151,552. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BXP has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH upped their price target on shares of BXP from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of BXP from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 8th. Truist Financial lowered their price objective on shares of BXP from $70.00 to $64.00 and set a "hold" rating for the company in a research report on Tuesday, May 26th. BMO Capital Markets restated an "outperform" rating and issued a $68.00 target price on shares of BXP in a research note on Tuesday, June 2nd. Finally, Scotiabank raised shares of BXP from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $65.00 to $70.00 in a research report on Thursday, June 18th. Eleven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $70.95.

BXP Price Performance

BXP opened at $67.05 on Tuesday. The company has a market capitalization of $10.69 billion, a price-to-earnings ratio of 33.69, a PEG ratio of 2.89 and a beta of 1.01. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 2.07. BXP, Inc. has a 12-month low of $49.72 and a 12-month high of $79.33. The business's fifty day simple moving average is $63.27 and its 200-day simple moving average is $61.00.

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

BXP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.70 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.2%. BXP's payout ratio is currently 140.70%.

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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