BXP (NYSE:BXP) Sets New 12-Month Low – Here’s Why

BXP, Inc. (NYSE:BXP) shares reached a new 52-week low on Monday . The company traded as low as $49.88 and last traded at $50.07, with a volume of 466052 shares traded. The stock had previously closed at $52.94.

Analysts Set New Price Targets

Several research firms recently commented on BXP. Truist Financial decreased their price target on shares of BXP from $74.00 to $70.00 and set a “hold” rating on the stock in a research note on Monday, February 2nd. Barclays cut their price objective on shares of BXP from $81.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. KeyCorp upgraded shares of BXP from a “sector weight” rating to an “overweight” rating and set a $80.00 target price on the stock in a research report on Thursday, December 4th. The Goldman Sachs Group set a $72.00 price target on shares of BXP in a research report on Wednesday, February 4th. Finally, Citigroup cut their price target on BXP from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $75.00.

BXP Price Performance

The firm has a market cap of $8.06 billion, a P/E ratio of 29.19, a PEG ratio of 2.26 and a beta of 1.01. 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’s 50-day moving average is $63.58 and its two-hundred day moving average is $69.13.

BXP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Wednesday, December 31st were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, December 31st. This represents a $2.80 annualized dividend and a dividend yield of 5.5%. BXP’s dividend payout ratio (DPR) is currently 160.92%.

Insider Buying and Selling

In related news, CEO Owen D. Thomas sold 1,198 shares of BXP stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $61.22, for a total value of $73,341.56. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $59.69, for a total transaction of $327,996.55. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,887 shares of company stock worth $476,930 over the last three months. 1.35% of the stock is currently owned by insiders.

Institutional Trading of BXP

Several institutional investors and hedge funds have recently modified their holdings of BXP. Vanguard Group Inc. grew its holdings 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 purchasing an additional 1,016,579 shares during the last quarter. Cohen & Steers Inc. raised its holdings in BXP by 41.4% in the 4th quarter. Cohen & Steers Inc. now owns 15,382,890 shares of the real estate investment trust’s stock valued at $1,038,176,000 after buying an additional 4,503,738 shares during the last quarter. State Street Corp boosted its position in BXP by 1.7% during 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 buying an additional 186,269 shares during the period. Norges Bank bought a new stake in BXP during the 4th quarter worth approximately $689,419,000. Finally, APG Asset Management US Inc. grew its holdings in BXP by 3.2% during the 3rd quarter. APG Asset Management US Inc. now owns 7,401,513 shares of the real estate investment trust’s stock worth $564,883,000 after acquiring an additional 232,591 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

About BXP

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.