BXP, Inc. $BXP Stock: Sumitomo Mitsui Trust Group Inc. Boosts Holdings

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of BXP, Inc. (NYSE:BXP) by 17.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 720,336 shares of the real estate investment trust’s stock after purchasing an additional 108,787 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.45% of BXP worth $44,020,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Rehmann Capital Advisory Group grew its stake in BXP by 4.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 4,280 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 175 shares during the last quarter. Elevation Wealth Partners LLC lifted its position in BXP by 13.7% in the third quarter. Elevation Wealth Partners LLC now owns 1,715 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 206 shares during the period. Choreo LLC increased its stake in BXP by 1.2% in the 3rd quarter. Choreo LLC now owns 18,334 shares of the real estate investment trust’s stock valued at $1,120,000 after purchasing an additional 217 shares in the last quarter. Roman Butler Fullerton & Co. boosted its stake in shares of BXP by 6.2% during the third quarter. Roman Butler Fullerton & Co. now owns 3,952 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 229 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in BXP by 0.6% during the second quarter. Arizona State Retirement System now owns 41,582 shares of the real estate investment trust’s stock worth $2,757,000 after buying an additional 238 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

BXP Stock Up 5.4%

Shares of NYSE BXP opened at $66.01 on Thursday. The company has a quick ratio of 3.91, a current ratio of 4.93 and a debt-to-equity ratio of 2.17. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. The firm’s 50-day simple moving average is $62.86 and its 200 day simple moving average is $62.09. BXP, Inc. has a 12-month low of $49.72 and a 12-month high of $74.94.

BXP (NYSE:BXP) last issued its earnings results on Tuesday, October 27th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.21. BXP had a return on equity of 6.89% and a net margin of 14.99%. The firm had revenue of $911.43 million for the quarter, compared to analysts’ expectations of $892.51 million. During the same quarter last year, the business earned $1.74 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. On average, research analysts expect that BXP, Inc. will post 7.07 earnings per share for the current fiscal year.

BXP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Wednesday, September 30th. BXP’s dividend payout ratio (DPR) is presently 83.83%.

Analyst Upgrades and Downgrades

BXP has been the subject of several research reports. Truist Financial boosted their price objective on shares of BXP from $64.00 to $68.00 and gave the stock a “hold” rating in a research note on Wednesday, September 9th. Weiss Ratings reissued a “hold (c)” rating on shares of BXP in a report on Friday, October 2nd. Scotiabank lowered their target price on BXP from $76.00 to $73.00 and set an “outperform” rating for the company in a report on Thursday, September 17th. JPMorgan Chase & Co. boosted their price objective on BXP from $79.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 25th. Finally, UBS Group raised their price objective on BXP from $61.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 25th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.56.

BXP Profile

BXP, Inc (NYSE:BXP), formerly known as Boston Properties, Inc, is a self-administered and self-managed real estate investment trust that develops, owns, manages and operates primarily office properties in the United States. The company focuses on high-quality commercial real estate in major gateway markets.

BXP’s portfolio includes office buildings, mixed-use properties and life science facilities. Its activities span property acquisition, development, redevelopment, leasing and ongoing management.