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

Boston Properties, Inc. (NYSE:BXP) declared a quarterly dividend on Wednesday, December 18th,RTT News reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.98 per share by the real estate investment trust on Thursday, January 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.28%.

Boston Properties has a dividend payout ratio of 200.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Boston Properties to earn $7.12 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 55.1%.

Boston Properties Stock Performance

BXP stock opened at $74.23 on Thursday. Boston Properties has a 1-year low of $56.46 and a 1-year high of $90.11. The business has a 50-day moving average price of $82.23 and a 200 day moving average price of $74.20. The company has a market capitalization of $11.74 billion, a P/E ratio of 32.13, a PEG ratio of 0.55 and a beta of 1.17. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 and a quick ratio of 5.51.

Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The business had revenue of $859.23 million for the quarter, compared to analysts’ expectations of $829.91 million. During the same period last year, the business posted $1.86 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities research analysts forecast that Boston Properties will post 7.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BXP shares. Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and increased their target price for the company from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Evercore ISI raised their price objective on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Scotiabank reiterated a “sector perform” rating and issued a $85.00 target price on shares of Boston Properties in a report on Thursday, November 7th. Barclays boosted their price objective on shares of Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Finally, UBS Group raised their target price on shares of Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $81.38.

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.