BXP (NYSE:BXP) Issues Quarterly Earnings Results

BXP (NYSE:BXP) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.04), Zacks reports. BXP had a negative net margin of 5.82% and a positive return on equity of 1.35%.

BXP Price Performance

Shares of NYSE:BXP traded up $0.46 during trading on Tuesday, hitting $65.23. 3,457,669 shares of the company were exchanged, compared to its average volume of 1,750,781. BXP has a 1-year low of $54.22 and a 1-year high of $79.33. The company has a market capitalization of $10.34 billion, a P/E ratio of -51.36, a price-to-earnings-growth ratio of 7.72 and a beta of 1.01. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 2.26. The business’s 50 day moving average is $68.93 and its 200-day moving average is $70.44.

BXP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Wednesday, December 31st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, December 31st. BXP’s dividend payout ratio is currently -220.47%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BXP. Royal Bank Of Canada upgraded BXP to an “outperform” rating in a report on Thursday, December 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of BXP in a research note on Monday, December 29th. Scotiabank decreased their target price on BXP from $81.00 to $74.00 and set a “sector performer” rating on the stock in a report on Wednesday, January 14th. LADENBURG THALM/SH SH assumed coverage on BXP in a research note on Monday, October 13th. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Evercore ISI reduced their price objective on shares of BXP from $77.00 to $76.00 and set an “in-line” rating for the company in a research report on Friday, November 14th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.90.

Insider Buying and Selling at BXP

In related news, EVP Raymond A. Ritchey sold 36,314 shares of BXP stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $72.18, for a total value of $2,621,144.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael E. Labelle sold 13,422 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $72.34, for a total transaction of $970,947.48. Following the sale, the chief financial officer owned 9,223 shares of the company’s stock, valued at approximately $667,191.82. This trade represents a 59.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 70,710 shares of company stock valued at $5,107,771. 1.35% of the stock is owned by insiders.

Institutional Investors Weigh In On BXP

A number of institutional investors and hedge funds have recently bought and sold shares of BXP. Invesco Ltd. boosted its holdings in BXP by 44.9% in the 3rd quarter. Invesco Ltd. now owns 3,896,978 shares of the real estate investment trust’s stock worth $289,701,000 after buying an additional 1,207,607 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of BXP by 76.8% in the third quarter. Daiwa Securities Group Inc. now owns 2,012,057 shares of the real estate investment trust’s stock worth $149,576,000 after acquiring an additional 873,974 shares during the period. Bamco Inc. NY purchased a new position in shares of BXP in the second quarter valued at $38,580,000. Boston Partners raised its stake in shares of BXP by 17.6% during the 3rd quarter. Boston Partners now owns 3,538,351 shares of the real estate investment trust’s stock valued at $263,031,000 after purchasing an additional 529,158 shares during the period. Finally, Sei Investments Co. lifted its holdings in BXP by 17.1% during the 3rd quarter. Sei Investments Co. now owns 1,796,948 shares of the real estate investment trust’s stock worth $133,585,000 after purchasing an additional 262,058 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

About BXP

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.