Mirae Asset Global Investments Co. Ltd. Acquires 41,524 Shares of BXP, Inc. $BXP

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of BXP, Inc. (NYSE:BXP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 41,524 shares of the real estate investment trust’s stock, valued at approximately $2,538,000.

Several other large investors have also recently bought and sold shares of BXP. BlackRock Inc. bought a new stake in BXP in the 2nd quarter valued at $1,192,349,000. Bank of America Corp DE acquired a new stake in BXP in the 2nd quarter worth $186,471,000. Dimensional Fund Advisors LP increased its holdings in shares of BXP by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,344,421 shares of the real estate investment trust’s stock worth $121,677,000 after purchasing an additional 51,843 shares during the period. Sei Investments Co. increased its holdings in shares of BXP by 1.8% during the 1st quarter. Sei Investments Co. now owns 2,000,667 shares of the real estate investment trust’s stock worth $103,835,000 after purchasing an additional 35,823 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of BXP during the 2nd quarter worth about $83,987,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

BXP Stock Down 0.1%

BXP opened at $65.15 on Friday. BXP, Inc. has a fifty-two week low of $49.72 and a fifty-two week high of $74.94. The company has a debt-to-equity ratio of 2.17, a current ratio of 4.93 and a quick ratio of 3.91. The firm’s fifty day moving average price is $62.66 and its two-hundred day moving average price is $62.07. The company has a market capitalization of $10.40 billion, a P/E ratio of 19.51, a P/E/G ratio of 2.19 and a beta of 1.03.

BXP (NYSE:BXP) last announced its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.21. BXP had a net margin of 14.99% and a return on equity of 6.89%. The firm had revenue of $911.43 million for the quarter, compared to analyst estimates of $892.51 million. During the same quarter in the previous year, the firm posted $1.74 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts anticipate that BXP, Inc. will post 7.07 EPS for the current year.

BXP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Wednesday, September 30th. BXP’s payout ratio is 83.83%.

Wall Street Analyst Weigh In

BXP has been the subject of several research reports. Truist Financial increased their target price on shares of BXP from $64.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, September 9th. Evercore set a $67.00 price target on BXP in a research note on Monday, September 21st. Wells Fargo & Company upped their price target on BXP from $77.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. Scotiabank cut their price target on BXP from $76.00 to $73.00 and set an “outperform” rating for the company in a report on Thursday, September 17th. Finally, Piper Sandler raised their price objective on BXP from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.56.

About BXP

BXP, Inc is a real estate investment trust that owns, develops and manages commercial real estate, with a focus on office properties and workplaces. Its portfolio also includes complementary mixed-use properties and related amenities.

The company operates in major U.S. markets, including Boston, New York, Washington, DC, San Francisco and Los Angeles. Its business includes leasing space to companies and overseeing the development and management of its properties.

Founded in 1970 as Boston Properties, the company adopted the BXP name in 2023.