Principal Financial Group Inc. Cuts Stock Position in BXP, Inc. $BXP

Principal Financial Group Inc. decreased its holdings in shares of BXP, Inc. (NYSE:BXP) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 676,364 shares of the real estate investment trust’s stock after selling 16,170 shares during the period. Principal Financial Group Inc.’s holdings in BXP were worth $50,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its stake in BXP by 1.0% during the 3rd quarter. Voya Investment Management LLC now owns 1,492,925 shares of the real estate investment trust’s stock valued at $110,835,000 after acquiring an additional 15,507 shares in the last quarter. Swedbank AB grew its position in shares of BXP by 13.9% in the third quarter. Swedbank AB now owns 141,798 shares of the real estate investment trust’s stock valued at $10,541,000 after purchasing an additional 17,253 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of BXP in the second quarter valued at approximately $306,000. Daiwa Securities Group Inc. lifted its position in BXP by 70.9% during the second quarter. Daiwa Securities Group Inc. now owns 1,138,083 shares of the real estate investment trust’s stock worth $76,787,000 after buying an additional 472,221 shares in the last quarter. Finally, Nan Fung Trinity HK Ltd. boosted its stake in BXP by 94.9% during the third quarter. Nan Fung Trinity HK Ltd. now owns 91,224 shares of the real estate investment trust’s stock worth $6,782,000 after buying an additional 44,424 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

BXP Trading Up 1.5%

NYSE BXP opened at $63.71 on Thursday. 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 $10.10 billion, a P/E ratio of -50.17, a PEG ratio of 2.66 and a beta of 1.01. The firm’s 50-day moving average is $68.04 and its two-hundred day moving average is $70.15. BXP, Inc. has a 12 month low of $54.22 and a 12 month high of $79.33.

BXP Announces Dividend

The business also recently disclosed 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 of this dividend was Wednesday, December 31st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.4%. BXP’s dividend payout ratio (DPR) is presently -220.47%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. The Goldman Sachs Group set a $72.00 target price on BXP in a research note on Wednesday. Evercore ISI dropped their price objective on shares of BXP from $76.00 to $73.00 and set an “in-line” rating for the company in a report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $70.00 target price on shares of BXP in a research note on Tuesday, January 6th. New Street Research set a $85.00 price target on shares of BXP in a research note on Monday, October 13th. Finally, Royal Bank Of Canada upgraded shares of BXP to an “outperform” rating in a report on Thursday, December 4th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $77.05.

Insider Activity at BXP

In other BXP news, EVP Raymond A. Ritchey sold 36,314 shares of the business’s 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. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter V. Otteni sold 4,136 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $72.65, for a total value of $300,480.40. The SEC filing for this sale provides additional information. Insiders have sold a total of 70,710 shares of company stock worth $5,107,771 over the last quarter. Company insiders own 1.49% 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.