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

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of BXP from $70.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $70.00 target price on shares of BXP in a research report on Tuesday, January 6th. UBS Group reduced their price target on BXP from $74.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $79.00 price target on shares of BXP in a research note on Thursday, January 29th. Finally, Evercore lowered their price objective on BXP from $76.00 to $73.00 and set an “in-line” rating for the company in a research report on Thursday, January 29th. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, BXP presently has an average rating of “Hold” and an average target price of $75.00.

BXP Stock Down 4.1%

The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 2.21. 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 stock’s 50-day simple moving average is $63.58 and its 200 day simple moving average is $69.13.

BXP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Wednesday, December 31st were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Wednesday, December 31st. BXP’s payout ratio is currently 160.92%.

Insider Activity at BXP

In related news, EVP Hilary J. Spann sold 5,495 shares of the firm’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 transaction of $327,996.55. Following the completion of the sale, the executive vice president owned 17,832 shares of the company’s stock, valued at $1,064,392.08. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Owen D. Thomas sold 1,198 shares of BXP stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $61.22, for a total value of $73,341.56. The SEC filing for this sale provides additional information. Insiders have sold 7,887 shares of company stock valued at $476,930 in the last ninety days. 1.35% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Loomis Sayles & Co. L P bought a new stake in shares of BXP during the second quarter worth about $25,000. Elyxium Wealth LLC acquired a new position in BXP during the 4th quarter valued at about $25,000. Muzinich & Co. Inc. acquired a new position in BXP during the 3rd quarter valued at about $27,000. Princeton Global Asset Management LLC increased its holdings in BXP by 892.5% during the 4th quarter. Princeton Global Asset Management LLC now owns 397 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 357 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in BXP during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

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.