Boston Properties, Inc. (NYSE:BXP) Announces $0.98 Quarterly Dividend

Boston Properties, Inc. (NYSE:BXP) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.98 per share by the real estate investment trust on Wednesday, April 30th. This represents a $3.92 annualized dividend and a yield of 5.79%. The ex-dividend date is Monday, March 31st.

Boston Properties has a payout ratio of 190.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Boston Properties to earn $7.27 per share next year, which means the company should continue to be able to cover its $3.92 annual dividend with an expected future payout ratio of 53.9%.

Boston Properties Stock Down 1.0 %

BXP opened at $67.65 on Friday. The stock has a fifty day moving average of $69.98 and a 200-day moving average of $76.27. The company has a market capitalization of $10.70 billion, a P/E ratio of 676.55, a P/E/G ratio of 0.91 and a beta of 1.19. Boston Properties has a fifty-two week low of $56.46 and a fifty-two week high of $90.11. The company has a debt-to-equity ratio of 2.09, a quick ratio of 5.51 and a current ratio of 5.69.

Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $1.28. Boston Properties had a net margin of 0.38% and a return on equity of 3.90%. On average, equities analysts expect that Boston Properties will post 6.91 EPS for the current year.

Insider Transactions at Boston Properties

In other Boston Properties news, EVP Hilary J. Spann sold 12,379 shares of Boston Properties stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $72.02, for a total value of $891,535.58. Following the completion of the sale, the executive vice president now directly owns 7,271 shares in the company, valued at approximately $523,657.42. The trade was a 63.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Donna D. Garesche sold 2,143 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $67.87, for a total value of $145,445.41. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BXP has been the topic of a number of research analyst reports. Mizuho reduced their price target on shares of Boston Properties from $92.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Jefferies Financial Group began coverage on shares of Boston Properties in a research note on Monday, March 17th. They set a “buy” rating and a $78.00 target price on the stock. Scotiabank dropped their price target on Boston Properties from $85.00 to $83.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company lowered their target price on Boston Properties from $88.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Piper Sandler dropped their price objective on shares of Boston Properties from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $80.85.

About Boston Properties

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.