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

Boston Properties, Inc. (NYSE:BXP) declared 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 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. Equities 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

NYSE BXP opened at $68.84 on Thursday. The stock has a market capitalization of $10.89 billion, a PE ratio of 688.46, a P/E/G ratio of 0.91 and a beta of 1.19. The business has a 50 day simple moving average of $70.30 and a two-hundred day simple moving average of $76.58. The company has a debt-to-equity ratio of 2.09, a current ratio of 5.69 and a quick ratio of 5.51. Boston Properties has a 1-year low of $56.46 and a 1-year high of $90.11.

Boston Properties (NYSE:BXP) last announced its earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 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%. On average, research analysts predict that Boston Properties will post 6.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Boston Properties in a report on Monday. They issued a “buy” rating and a $78.00 target price for the company. Piper Sandler decreased their price target on Boston Properties from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Truist Financial raised their price target on 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 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, Wedbush lowered Boston Properties from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Boston Properties has an average rating of “Hold” and a consensus price target of $80.85.

Insider Buying and Selling at Boston Properties

In related news, EVP Donna D. Garesche sold 2,143 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $67.87, for a total transaction of $145,445.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Hilary J. Spann sold 12,379 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 7,271 shares in the company, valued at approximately $523,657.42. This trade represents a 63.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.

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.