Allianz Asset Management GmbH Increases Stake in BXP, Inc. $BXP

Allianz Asset Management GmbH boosted its stake in shares of BXP, Inc. (NYSE:BXP) by 57.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 149,860 shares of the real estate investment trust’s stock after purchasing an additional 54,803 shares during the period. Allianz Asset Management GmbH’s holdings in BXP were worth $11,141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of BXP by 4.3% during the second quarter. Vanguard Group Inc. now owns 24,470,390 shares of the real estate investment trust’s stock worth $1,651,017,000 after buying an additional 1,016,579 shares during the period. State Street Corp raised its stake in BXP by 1.7% in the 2nd quarter. State Street Corp now owns 11,433,768 shares of the real estate investment trust’s stock worth $782,337,000 after acquiring an additional 186,269 shares during the last quarter. Norges Bank acquired a new stake in BXP during the 2nd quarter worth about $686,886,000. Geode Capital Management LLC grew its stake in BXP by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 4,153,844 shares of the real estate investment trust’s stock valued at $279,186,000 after purchasing an additional 68,481 shares during the last quarter. Finally, Boston Partners grew its stake in BXP by 15.5% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Hilary J. Spann sold 1,194 shares of BXP stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $63.31, for a total value of $75,592.14. Following the completion of the transaction, the executive vice president owned 17,832 shares in the company, valued at $1,128,943.92. The trade was a 6.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raymond A. Ritchey sold 36,314 shares of the 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 58,482 shares of company stock valued at $4,212,416 over the last quarter. Insiders own 1.35% of the company’s stock.

BXP Price Performance

Shares of NYSE BXP opened at $64.73 on Monday. The company has a debt-to-equity ratio of 2.21, a current ratio of 5.36 and a quick ratio of 4.50. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of -50.97, a PEG ratio of 2.75 and a beta of 1.01. The firm’s 50 day simple moving average is $67.70 and its 200-day simple moving average is $70.05. BXP, Inc. has a 12 month low of $54.22 and a 12 month high of $79.33.

BXP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Wednesday, December 31st. BXP’s dividend payout ratio is presently -220.47%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BXP shares. UBS Group reduced their price objective on BXP from $74.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Evercore cut their price target on shares of BXP from $76.00 to $73.00 and set an “in-line” rating on the stock in a report on Thursday, January 29th. The Goldman Sachs Group set a $72.00 price target on shares of BXP in a research report on Wednesday. Citigroup dropped their price objective on shares of BXP from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of BXP from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.05.

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.