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

Sumitomo Mitsui Trust Group Inc. boosted its stake in BXP, Inc. (NYSE:BXP) by 17.8% in the third quarter, HoldingsChannel.com reports. The firm owned 720,336 shares of the real estate investment trust’s stock after buying an additional 108,787 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in BXP were worth $44,020,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of BXP during the 3rd quarter valued at $2,538,000. ProShare Advisors LLC raised its stake in shares of BXP by 10.0% during the 3rd quarter. ProShare Advisors LLC now owns 31,200 shares of the real estate investment trust’s stock worth $1,907,000 after purchasing an additional 2,831 shares during the period. Vise Technologies Inc. bought a new stake in shares of BXP in the third quarter valued at $211,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of BXP by 5.3% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 107,560 shares of the real estate investment trust’s stock worth $6,573,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Choreo LLC boosted its holdings in shares of BXP by 1.2% in the third quarter. Choreo LLC now owns 18,334 shares of the real estate investment trust’s stock worth $1,120,000 after acquiring an additional 217 shares during the period. 98.72% of the stock is currently owned by institutional investors.

BXP Trading Up 5.4%

NYSE:BXP opened at $66.01 on Thursday. BXP, Inc. has a one year low of $49.72 and a one year high of $74.94. The business has a fifty day moving average price of $62.86 and a 200-day moving average price of $62.09. The firm has a market capitalization 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 company has a debt-to-equity ratio of 2.17, a current ratio of 4.93 and a quick ratio of 3.91.

BXP (NYSE:BXP) last released its earnings results on Tuesday, October 27th. The real estate investment trust reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.21. BXP had a net margin of 14.99% and a return on equity of 6.89%. The company 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 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. Sell-side analysts forecast that BXP, Inc. will post 7.07 EPS for the current year.

BXP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, September 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.2%. BXP’s dividend payout ratio (DPR) is currently 83.83%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays upped their target price on shares of BXP from $65.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Mizuho upped their price objective on shares of BXP from $62.00 to $68.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. raised their target price on BXP from $79.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 25th. Wells Fargo & Company upped their price target on BXP from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Finally, Scotiabank decreased 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. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.56.

BXP Company 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.