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.

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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.