Korea Investment CORP Has $6.98 Million Stake in BXP, Inc. $BXP

Korea Investment CORP lowered its holdings in BXP, Inc. (NYSE:BXP) by 32.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,894 shares of the real estate investment trust’s stock after selling 44,377 shares during the period. Korea Investment CORP owned about 0.06% of BXP worth $6,980,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Aviva PLC increased its position in shares of BXP by 6.1% in the second quarter. Aviva PLC now owns 134,089 shares of the real estate investment trust’s stock valued at $9,047,000 after acquiring an additional 7,713 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in BXP during the second quarter valued at approximately $306,000. ProShare Advisors LLC grew its stake in BXP by 8.0% in the second quarter. ProShare Advisors LLC now owns 30,056 shares of the real estate investment trust’s stock valued at $2,028,000 after purchasing an additional 2,228 shares in the last quarter. Boston Partners grew its stake in BXP by 15.5% in the second quarter. Boston Partners now owns 3,009,193 shares of the real estate investment trust’s stock valued at $203,020,000 after purchasing an additional 403,090 shares in the last quarter. Finally, National Pension Service increased its position in shares of BXP by 340.4% during the 2nd quarter. National Pension Service now owns 2,374 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 1,835 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

BXP Trading Up 1.0%

BXP stock opened at $52.68 on Friday. The company has a debt-to-equity ratio of 2.21, a current ratio of 5.36 and a quick ratio of 5.36. The company has a fifty day moving average price of $62.33 and a two-hundred day moving average price of $68.69. BXP, Inc. has a one year low of $49.72 and a one year high of $79.33. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01.

BXP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Wednesday, December 31st were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Wednesday, December 31st. BXP’s dividend payout ratio is currently 160.92%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BXP shares. Citigroup cut their price objective on BXP from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Truist Financial dropped their price target on shares of BXP from $74.00 to $70.00 and set a “hold” rating on the stock in a research report on Monday, February 2nd. Mizuho cut shares of BXP from an “outperform” rating to a “neutral” rating and cut their price target for the company from $79.00 to $62.00 in a research note on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $70.00 price objective on shares of BXP in a research report on Tuesday, January 6th. Finally, Weiss Ratings raised shares of BXP from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, March 2nd. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $75.00.

Insider Activity

In other BXP news, CEO Owen D. Thomas sold 1,198 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $61.22, for a total transaction of $73,341.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Hilary J. Spann sold 5,495 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $59.69, for a total value of $327,996.55. Following the sale, the executive vice president owned 17,832 shares of the company’s stock, valued at approximately $1,064,392.08. This represents a 23.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 7,887 shares of company stock worth $476,930. Insiders own 1.49% of the company’s stock.

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.