Korea Investment CORP Sells 44,377 Shares of BXP, Inc. $BXP

Korea Investment CORP cut its holdings in BXP, Inc. (NYSE:BXP) by 32.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 93,894 shares of the real estate investment trust’s stock after selling 44,377 shares during the quarter. Korea Investment CORP’s holdings in BXP were worth $6,980,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Loomis Sayles & Co. L P bought a new stake in BXP in the 2nd quarter valued at about $25,000. Muzinich & Co. Inc. bought a new position in shares of BXP during the third quarter worth approximately $27,000. MUFG Securities EMEA plc acquired a new stake in shares of BXP in the second quarter valued at approximately $29,000. Avalon Trust Co acquired a new stake in shares of BXP in the third quarter valued at approximately $36,000. Finally, Rothschild Investment LLC boosted its stake in shares of BXP by 67.1% in the second quarter. Rothschild Investment LLC now owns 635 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 255 shares during the period. 98.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BXP has been the topic of a number of analyst reports. Barclays reduced their price target on BXP from $81.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Evercore cut their target price 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. The Goldman Sachs Group set a $72.00 price target on BXP in a research report on Wednesday, February 4th. Citigroup dropped 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. Finally, Wells Fargo & Company cut their price objective on shares of BXP from $77.00 to $74.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, BXP currently has a consensus rating of “Hold” and a consensus target price of $75.00.

BXP Stock Up 1.0%

NYSE BXP opened at $52.68 on Friday. The business has a fifty day moving average price of $62.33 and a two-hundred day moving average price of $68.69. The stock has a market capitalization of $8.36 billion, a PE ratio of 30.28, a PEG ratio of 2.22 and a beta of 1.01. BXP, Inc. has a fifty-two week low of $49.72 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 5.36.

BXP Announces Dividend

The firm 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. This represents a $2.80 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Wednesday, December 31st. BXP’s dividend payout ratio is currently 160.92%.

Insider Activity

In other BXP news, CEO Owen D. Thomas sold 1,198 shares of BXP stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $61.22, for a total value of $73,341.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Hilary J. Spann sold 5,495 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $59.69, for a total value of $327,996.55. Following the transaction, the executive vice president directly owned 17,832 shares of the company’s stock, valued at approximately $1,064,392.08. The trade was a 23.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 7,887 shares of company stock worth $476,930 over the last ninety days. 1.49% of the stock is currently owned by insiders.

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.