Citigroup Inc. Sells 50,967 Shares of BXP, Inc. $BXP

Citigroup Inc. trimmed its position in BXP, Inc. (NYSE:BXP) by 21.5% during the third quarter, HoldingsChannel.com reports. The fund owned 186,252 shares of the real estate investment trust’s stock after selling 50,967 shares during the quarter. Citigroup Inc.’s holdings in BXP were worth $13,846,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BXP. Loomis Sayles & Co. L P bought a new position in shares of BXP in the 2nd quarter valued at $25,000. Muzinich & Co. Inc. acquired a new stake in BXP in the third quarter valued at about $27,000. MUFG Securities EMEA plc bought a new position in BXP in the second quarter valued at about $29,000. Rothschild Investment LLC raised its stake in BXP by 67.1% during the second quarter. Rothschild Investment LLC now owns 635 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 255 shares in the last quarter. Finally, Quent Capital LLC acquired a new stake in shares of BXP in the 3rd quarter valued at approximately $44,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Owen D. Thomas sold 1,198 shares of BXP stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.22, for a total transaction of $73,341.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Hilary J. Spann sold 1,194 shares of BXP stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $63.31, for a total value of $75,592.14. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 38,706 shares of company stock valued at $2,770,078 over the last three months. Corporate insiders own 1.49% of the company’s stock.

BXP Trading Down 5.7%

Shares of BXP stock opened at $57.69 on Friday. The stock has a 50 day moving average price of $64.97 and a two-hundred day moving average price of $69.43. BXP, Inc. has a 52 week low of $54.22 and a 52 week high of $79.33. The company has a debt-to-equity ratio of 2.21, a quick ratio of 4.50 and a current ratio of 5.36. The stock has a market capitalization of $9.14 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 2.60 and a beta of 1.01.

BXP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Wednesday, December 31st were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Wednesday, December 31st. BXP’s dividend payout ratio is presently 160.92%.

Analyst Ratings Changes

BXP has been the subject of a number of research analyst reports. Mizuho cut shares of BXP from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $79.00 to $62.00 in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of BXP from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Weiss Ratings restated a “sell (d+)” rating on shares of BXP in a research report on Monday, December 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $79.00 target price on shares of BXP in a report on Thursday, January 29th. Finally, UBS Group reduced their price target on BXP from $74.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, BXP has a consensus rating of “Hold” and an average price target of $75.45.

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.