BXP (NYSE:BXP) Stock Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• BXP shares rose above their 50-day moving average, reaching $66.09 and last trading at about $66.01, compared with the average of $62.86.
• The REIT reported quarterly EPS of $0.71, beating the $0.50 consensus estimate, while revenue of $911.43 million also topped expectations and grew 4.6% year over year.
• Analysts’ consensus was “Moderate Buy”, with a $72.56 average price target. BXP also paid a quarterly dividend of $0.70 per share, equivalent to a 4.2% yield at the article’s cited share price.

BXP, Inc. (NYSE:BXP - Get Free Report) passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $62.86 and traded as high as $66.09. BXP shares last traded at $66.0060, with a volume of 1,943,258 shares.

Wall Street Analysts Forecast Growth

BXP has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on BXP from $79.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, August 25th. Citigroup boosted their price target on BXP from $58.00 to $69.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. BMO Capital Markets reaffirmed an "outperform" rating and set a $70.00 price objective on shares of BXP in a research report on Sunday, October 11th. Scotiabank decreased their price objective on BXP from $76.00 to $73.00 and set an "outperform" rating for the company in a report on Thursday, September 17th. Finally, Mizuho increased their price objective on BXP from $62.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, July 21st. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.56.

BXP Price Performance

The business has a fifty day moving average of $62.86 and a 200 day moving average of $62.09. The firm has a market cap of $10.54 billion, a P/E ratio of 19.76, a PEG ratio of 2.11 and a beta of 1.03. The company has a quick ratio of 3.91, a current ratio of 4.93 and a debt-to-equity ratio of 2.17.

BXP (NYSE:BXP - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.21. BXP had a return on equity of 6.89% and a net margin of 14.99%. The firm had revenue of $911.43 million for the quarter, compared to analyst estimates of $892.51 million. During the same quarter in the prior year, the company earned $1.74 earnings per share. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that BXP, Inc. will post 7.07 earnings per share for the current year.

BXP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Wednesday, September 30th. BXP's dividend payout ratio is 83.83%.

Institutional Investors Weigh In On BXP

Hedge funds have recently added to or reduced their stakes in the business. New York Life Investment Management LLC grew its holdings in BXP by 7.6% in the 3rd quarter. New York Life Investment Management LLC now owns 43,044 shares of the real estate investment trust's stock valued at $2,630,000 after buying an additional 3,035 shares in the last quarter. AlphaCore Capital LLC bought a new position in BXP during the 3rd quarter worth $440,000. Retirement Systems of Alabama increased its position in BXP by 6.6% during the 3rd quarter. Retirement Systems of Alabama now owns 120,913 shares of the real estate investment trust's stock worth $7,389,000 after buying an additional 7,528 shares during the period. Fulcrum Asset Management LLP increased its position in BXP by 14,500.0% during the 3rd quarter. Fulcrum Asset Management LLP now owns 4,380 shares of the real estate investment trust's stock worth $270,000 after buying an additional 4,350 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of BXP by 22.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,319 shares of the real estate investment trust's stock worth $561,000 after buying an additional 1,687 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

About BXP

BXP, Inc NYSE: BXP, formerly known as Boston Properties, Inc, is a self-administered and self-managed real estate investment trust that develops, owns, manages and operates primarily office properties in the United States. The company focuses on high-quality commercial real estate in major gateway markets.

BXP's portfolio includes office buildings, mixed-use properties and life science facilities. Its activities span property acquisition, development, redevelopment, leasing and ongoing management.

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