BXP (NYSE:BXP) Sets New 1-Year Low on Insider Selling

BXP, Inc. (NYSE:BXP) reached a new 52-week low on Tuesday following insider selling activity. The company traded as low as $54.01 and last traded at $53.4170, with a volume of 214507 shares. The stock had previously closed at $56.24.

Specifically, EVP Hilary J. Spann sold 5,495 shares of the company’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 in the company, valued at $1,064,392.08. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $70.00 price objective on shares of BXP in a research note on Tuesday, January 6th. The Goldman Sachs Group set a $72.00 target price on shares of BXP in a report on Wednesday, February 4th. JPMorgan Chase & Co. lowered their price target on shares of BXP from $83.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Royal Bank Of Canada raised BXP to an “outperform” rating in a research report on Thursday, December 4th. Finally, UBS Group decreased their price objective on BXP from $74.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $75.00.

BXP Stock Up 2.2%

The company has a market cap of $8.96 billion, a PE ratio of 32.47, a P/E/G ratio of 2.35 and a beta of 1.01. The business has a 50-day simple moving average of $64.18 and a 200-day simple moving average of $69.28. The company has a quick ratio of 4.50, a current ratio of 5.36 and a debt-to-equity ratio of 2.21.

BXP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Wednesday, December 31st were paid a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.80 dividend on an annualized basis and a yield of 5.0%. BXP’s dividend payout ratio (DPR) is currently 160.92%.

Institutional Investors Weigh In On BXP

Several institutional investors and hedge funds have recently added to or reduced their stakes in BXP. Teacher Retirement System of Texas lifted its holdings in BXP by 4.0% during the second quarter. Teacher Retirement System of Texas now owns 22,839 shares of the real estate investment trust’s stock valued at $1,541,000 after purchasing an additional 882 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in BXP in the 2nd quarter valued at about $223,000. Keybank National Association OH lifted its stake in BXP by 7.7% in the 2nd quarter. Keybank National Association OH now owns 3,525 shares of the real estate investment trust’s stock valued at $238,000 after buying an additional 253 shares in the last quarter. Assetmark Inc. boosted its holdings in BXP by 143.7% in the 2nd quarter. Assetmark Inc. now owns 1,226 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 723 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in BXP by 16.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 114,062 shares of the real estate investment trust’s stock worth $7,717,000 after buying an additional 16,290 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.