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

Boston Properties, Inc. (NYSE:BXP - Get Free Report) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders 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 dividend yield of 5.64%. The ex-dividend date is Monday, March 31st.

Boston Properties has a payout ratio of 190.3% meaning 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 Trading Up 1.7 %

NYSE BXP traded up $1.14 during trading hours on Monday, hitting $69.48. 1,555,377 shares of the company were exchanged, compared to its average volume of 1,179,620. The stock has a market cap of $10.99 billion, a PE ratio of 694.89, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19. Boston Properties has a 52 week low of $56.46 and a 52 week high of $90.11. The stock has a 50-day moving average price of $70.28 and a 200 day moving average price of $76.47. 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 (NYSE:BXP - Get Free Report) last issued its quarterly earnings results 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 return on equity of 3.90% and a net margin of 0.38%. Analysts forecast that Boston Properties will post 6.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Hilary J. Spann sold 12,379 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $72.02, for a total transaction of $891,535.58. Following the sale, the executive vice president now owns 7,271 shares of the company's stock, valued at $523,657.42. This trade represents a 63.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Donna D. Garesche sold 2,143 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $67.87, for a total transaction of $145,445.41. The disclosure for this sale can be found here. 1.35% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Mizuho cut their price objective on Boston Properties from $92.00 to $86.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Piper Sandler lowered their price objective on shares of Boston Properties from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Truist Financial upped their target price on shares of Boston Properties from $77.00 to $83.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. Wells Fargo & Company decreased their price target on shares of Boston Properties from $88.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Finally, Scotiabank lowered their price target 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. 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. Based on data from MarketBeat.com, Boston Properties presently has a consensus rating of "Hold" and an average price target of $80.85.

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.