JPMorgan Chase & Co. Sells 1,034,593 Shares of BXP, Inc. $BXP

JPMorgan Chase & Co. trimmed its position in shares of BXP, Inc. (NYSE:BXP) by 26.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,937,867 shares of the real estate investment trust’s stock after selling 1,034,593 shares during the period. JPMorgan Chase & Co. owned 1.85% of BXP worth $218,401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BXP. Norges Bank bought a new position in shares of BXP in the 2nd quarter valued at about $686,886,000. Vanguard Group Inc. lifted its stake in BXP by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 24,470,390 shares of the real estate investment trust’s stock valued at $1,651,017,000 after purchasing an additional 1,016,579 shares during the last quarter. Franklin Resources Inc. grew its holdings in BXP by 354.0% during the second quarter. Franklin Resources Inc. now owns 870,178 shares of the real estate investment trust’s stock worth $58,711,000 after purchasing an additional 678,529 shares during the period. Bamco Inc. NY bought a new position in BXP during the second quarter worth about $38,580,000. Finally, Daiwa Securities Group Inc. increased 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 during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BXP. Mizuho cut their price objective on BXP from $82.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, December 12th. JPMorgan Chase & Co. cut their price target on BXP from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Truist Financial reduced their price objective on shares of BXP from $74.00 to $70.00 and set a “hold” rating for the company in a research report on Monday, February 2nd. Scotiabank dropped their price objective on shares of BXP from $81.00 to $74.00 and set a “sector performer” rating on the stock in a research report on Wednesday, January 14th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of BXP in a research note on Monday, December 29th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $77.05.

BXP Stock Down 2.2%

BXP stock opened at $60.88 on Friday. BXP, Inc. has a fifty-two week low of $54.22 and a fifty-two week high of $79.33. 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 $9.65 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 2.64 and a beta of 1.01. The business’s fifty day moving average price is $66.00 and its two-hundred day moving average price is $69.60.

BXP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Wednesday, December 31st were paid a $0.70 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.80 annualized dividend and a yield of 4.6%. BXP’s payout ratio is 160.92%.

Insider Buying and Selling at BXP

In other news, EVP Peter V. Otteni sold 4,136 shares of BXP stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $72.65, for a total value of $300,480.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Hilary J. Spann sold 1,194 shares of the stock in a transaction that occurred 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 directly owned 17,832 shares in the company, valued at $1,128,943.92. This represents a 6.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 42,842 shares of company stock worth $3,070,559. 1.49% of the stock is currently owned by company insiders.

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.