Boston Properties, Inc. (BXP) to Issue Quarterly Dividend of $0.98 on April 30th

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 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 yield of 5.79%. The ex-dividend date of this dividend is Monday, March 31st.

Boston Properties has a 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. 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 Trading Down 1.0 %

Shares of BXP stock opened at $67.65 on Friday. Boston Properties has a 12 month low of $56.46 and a 12 month high of $90.11. The company has a market cap of $10.70 billion, a PE ratio of 676.55, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19. The company has a quick ratio of 5.51, a current ratio of 5.69 and a debt-to-equity ratio of 2.09. The business’s 50 day moving average is $69.98 and its two-hundred day moving average is $76.27.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share for the quarter, topping the consensus estimate of $0.51 by $1.28. Boston Properties had a return on equity of 3.90% and a net margin of 0.38%. Equities analysts predict that Boston Properties will post 6.91 EPS for the current year.

Analysts Set New Price Targets

BXP has been the subject of several analyst reports. Mizuho cut their price target on shares of Boston Properties from $92.00 to $86.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Wedbush cut Boston Properties from a “hold” rating to a “strong sell” rating in a report on Thursday, January 30th. Barclays cut their price target on Boston Properties from $89.00 to $79.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Scotiabank decreased their price target on shares of Boston Properties from $85.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Finally, Piper Sandler dropped 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. 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, the company presently has a consensus rating of “Hold” and an average target price of $80.85.

Insider Activity

In related news, EVP Hilary J. Spann sold 12,379 shares of Boston Properties stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $72.02, for a total value of $891,535.58. Following the sale, the executive vice president now owns 7,271 shares of the company’s stock, valued at approximately $523,657.42. The trade was a 63.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donna D. Garesche sold 2,143 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $67.87, for a total value of $145,445.41. The disclosure for this sale can be found here. 1.35% of the stock is 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.