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

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 given 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 5.69%.

Boston Properties has a dividend payout ratio of 203.1% 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 Performance

Shares of BXP stock opened at $68.84 on Thursday. The stock has a market cap of $10.89 billion, a PE ratio of 688.46, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19. The business has a 50-day simple moving average of $70.30 and a 200-day simple moving average of $76.58. The company has a quick ratio of 5.51, a current ratio of 5.69 and a debt-to-equity ratio of 2.09. Boston Properties has a 52-week low of $56.46 and a 52-week high of $90.11.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BXP. Piper Sandler reduced their price target on Boston Properties from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Truist Financial upped their price target on Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Barclays reduced their target price on Boston Properties from $89.00 to $79.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Scotiabank reduced their target price on Boston Properties from $85.00 to $83.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Finally, Wedbush cut Boston Properties from a “hold” rating to a “strong sell” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $80.85.

Insider Activity

In related news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Hilary J. Spann sold 12,379 shares of the 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 transaction, the executive vice president now owns 7,271 shares of the company’s stock, valued at $523,657.42. The trade was a 63.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.35% of the company’s stock.

Boston Properties Company 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.