Resona Asset Management Co. Ltd. Reduces Stock Position in BXP, Inc. $BXP

Resona Asset Management Co. Ltd. trimmed its holdings in BXP, Inc. (NYSE:BXP) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,810 shares of the real estate investment trust’s stock after selling 3,233 shares during the period. Resona Asset Management Co. Ltd. owned about 0.05% of BXP worth $5,792,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of BXP by 0.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,001,208 shares of the real estate investment trust’s stock worth $134,461,000 after buying an additional 17,385 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in BXP by 1.7% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 807,422 shares of the real estate investment trust’s stock valued at $54,477,000 after acquiring an additional 13,247 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in BXP by 9.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 471,763 shares of the real estate investment trust’s stock worth $31,830,000 after acquiring an additional 41,284 shares in the last quarter. Analyst IMS Investment Management Services Ltd. grew its holdings in BXP by 49.7% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 339,596 shares of the real estate investment trust’s stock worth $22,913,000 after acquiring an additional 112,760 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of BXP by 1.5% in the 2nd quarter. Asset Management One Co. Ltd. now owns 291,875 shares of the real estate investment trust’s stock worth $19,693,000 after purchasing an additional 4,431 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

BXP Trading Up 3.3%

NYSE:BXP opened at $72.39 on Monday. The firm has a market capitalization of $11.46 billion, a P/E ratio of -57.00, a P/E/G ratio of 7.35 and a beta of 1.20. The business has a 50 day simple moving average of $73.63 and a 200 day simple moving average of $70.04. The company has a debt-to-equity ratio of 2.26, a current ratio of 4.50 and a quick ratio of 3.76. BXP, Inc. has a 12-month low of $54.22 and a 12-month high of $84.75.

BXP (NYSE:BXP) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.02. The firm had revenue of $871.51 million for the quarter, compared to analyst estimates of $860.88 million. BXP had a positive return on equity of 1.35% and a negative net margin of 5.82%.The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the company earned $1.81 earnings per share. BXP has set its FY 2025 guidance at 6.890-6.920 EPS. Equities research analysts predict that BXP, Inc. will post 6.91 EPS for the current year.

BXP Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 30th. BXP’s dividend payout ratio (DPR) is -220.47%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of BXP from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Truist Financial upped their price objective on BXP from $71.00 to $77.00 and gave the company a “hold” rating in a research note on Wednesday, September 10th. Scotiabank reduced their target price on BXP from $81.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, August 28th. The Goldman Sachs Group set a $77.00 price target on BXP and gave the company a “neutral” rating in a report on Friday, October 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of BXP in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $79.26.

BXP Profile

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.