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

Boston Properties, Inc. (NYSE:BXP - Get Free Report) 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 5.64%. The ex-dividend date is Monday, March 31st.

Boston Properties has a dividend 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 Trading Up 1.7 %

Shares of BXP stock traded up $1.14 on Monday, hitting $69.48. The stock had a trading volume of 1,555,377 shares, compared to its average volume of 1,179,620. The firm has a market cap of $10.99 billion, a P/E ratio of 694.89, a PEG ratio of 0.91 and a beta of 1.19. Boston Properties has a twelve month low of $56.46 and a twelve month high of $90.11. The company has a current ratio of 5.69, a quick ratio of 5.51 and a debt-to-equity ratio of 2.09. The company has a fifty day moving average price of $70.28 and a two-hundred day moving average price of $76.47.

Boston Properties (NYSE:BXP - Get Free Report) last posted its earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts forecast that Boston Properties will post 6.91 earnings per share for the current fiscal year.

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Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BXP shares. Wedbush lowered shares of Boston Properties from a "hold" rating to a "strong sell" rating in a research note on Thursday, January 30th. Piper Sandler cut their price objective on shares of Boston Properties from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Scotiabank reduced their target price on shares of 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. Mizuho dropped their price target on Boston Properties from $92.00 to $86.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays cut their price target on Boston Properties from $89.00 to $79.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $80.85.

Insider Transactions at Boston Properties

In other news, EVP Hilary J. Spann sold 12,379 shares of Boston Properties stock in a transaction dated Tuesday, February 4th. The shares were 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. This trade represents a 63.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Donna D. Garesche sold 2,143 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was 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. 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.