Jupiter Topco LLC purchased a new position in shares of BXP, Inc. (NYSE:BXP – Free Report) during the second quarter, Holdings Channel reports. The firm purchased 69,907 shares of the real estate investment trust’s stock, valued at approximately $4,636,000.
Several other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in BXP by 9.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 450,591 shares of the real estate investment trust’s stock worth $30,559,000 after purchasing an additional 38,639 shares during the period. Nan Fung Trinity HK Ltd. boosted its stake in shares of BXP by 33.7% during the fourth quarter. Nan Fung Trinity HK Ltd. now owns 121,924 shares of the real estate investment trust’s stock worth $8,227,000 after buying an additional 30,700 shares during the period. Fisher Asset Management LLC grew its holdings in shares of BXP by 30.7% during the fourth quarter. Fisher Asset Management LLC now owns 327,262 shares of the real estate investment trust’s stock worth $22,084,000 after buying an additional 76,946 shares during the last quarter. DJE Kapital AG acquired a new position in BXP in the 4th quarter valued at about $2,792,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in BXP in the 1st quarter valued at about $4,938,000. Institutional investors and hedge funds own 98.72% of the company’s stock.
BXP Stock Performance
BXP opened at $68.12 on Tuesday. The stock has a market cap of $10.88 billion, a P/E ratio of 36.62, a P/E/G ratio of 2.59 and a beta of 1.01. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.91 and a quick ratio of 3.91. The stock’s 50 day simple moving average is $68.50 and its 200 day simple moving average is $61.67. BXP, Inc. has a 1-year low of $49.72 and a 1-year high of $79.33.
BXP Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were given a $0.70 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.1%. BXP’s dividend payout ratio (DPR) is currently 150.54%.
Insider Activity
In other news, CFO Michael E. Labelle sold 26,113 shares of BXP stock in a transaction 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 owned 5,839 shares of the company’s stock, valued at $387,417.65. The trade was a 81.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on BXP. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of BXP in a research report on Wednesday, August 12th. Weiss Ratings upgraded BXP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Piper Sandler cut their price target on BXP from $90.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday. Wells Fargo & Company lifted their price objective on shares of BXP from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Barclays lifted their price objective on shares of BXP from $65.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.79.
BXP Company 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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