Duff & Phelps Investment Management Co. Sells 132,805 Shares of BXP, Inc. $BXP

Duff & Phelps Investment Management Co. trimmed its position in shares of BXP, Inc. (NYSE:BXP) by 13.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 828,949 shares of the real estate investment trust’s stock after selling 132,805 shares during the quarter. Duff & Phelps Investment Management Co. owned 0.52% of BXP worth $61,624,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BXP. Allianz Asset Management GmbH increased its holdings in shares of BXP by 57.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 149,860 shares of the real estate investment trust’s stock worth $11,141,000 after buying an additional 54,803 shares during the last quarter. Voya Investment Management LLC increased its stake in BXP by 1.0% in the third 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 during the last quarter. Swedbank AB increased its position in shares of BXP by 13.9% during the 3rd 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 during the last quarter. Nan Fung Trinity HK Ltd. raised its holdings in shares of BXP by 94.9% during the 3rd quarter. Nan Fung Trinity HK Ltd. now owns 91,224 shares of the real estate investment trust’s stock valued at $6,782,000 after buying an additional 44,424 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of BXP during the 2nd quarter valued at about $306,000. Institutional investors own 98.72% of the company’s stock.

BXP Stock Down 2.4%

BXP opened at $52.15 on Thursday. The firm has a 50 day moving average price of $62.62 and a 200-day moving average price of $68.80. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 2.28 and a beta of 1.01. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 2.21. BXP, Inc. has a twelve month low of $49.72 and a twelve month high of $79.33.

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 issued a $0.70 dividend. 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 5.4%. BXP’s dividend payout ratio (DPR) is presently 160.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group set a $72.00 price objective on shares of BXP in a report on Wednesday, February 4th. Mizuho lowered shares of BXP from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $79.00 to $62.00 in a report on Tuesday, February 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $79.00 target price on shares of BXP in a research note on Thursday, January 29th. Evercore lowered 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. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $70.00 target price on shares of BXP in a report on Tuesday, January 6th. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, BXP presently has an average rating of “Hold” and a consensus price target of $75.00.

Insider Buying and Selling at BXP

In related news, EVP Hilary J. Spann sold 5,495 shares of the stock in a transaction dated 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 in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CEO Owen D. Thomas sold 1,198 shares of BXP stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $61.22, for a total transaction of $73,341.56. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,887 shares of company stock worth $476,930 over the last quarter. 1.49% of the stock is owned by company insiders.

BXP 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.