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 paid a dividend of 0.98 per share by the real estate investment trust on Wednesday, April 30th. This represents a $3.92 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date of this dividend is Monday, March 31st.

Boston Properties has a dividend 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. 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 Up 0.0 %

Shares of NYSE:BXP opened at $68.50 on Friday. The company has a market capitalization of $10.84 billion, a PE ratio of 685.07, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19. The business has a fifty day moving average price of $70.28 and a two-hundred day moving average price of $76.48. 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 posted its quarterly earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share for the quarter, beating the consensus estimate of $0.51 by $1.28. Boston Properties had a net margin of 0.38% and a return on equity of 3.90%. Analysts forecast that Boston Properties will post 6.91 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial increased their price objective on Boston Properties from $77.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Jefferies Financial Group initiated coverage on Boston Properties in a research note on Monday, March 17th. They set a “buy” rating and a $78.00 price target for the company. Wedbush lowered shares of Boston Properties from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 30th. Scotiabank cut 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 report on Friday, February 28th. Finally, Piper Sandler cut their price objective on shares of Boston Properties from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Boston Properties currently has an average rating of “Hold” and a consensus target price of $80.85.

Insider Activity 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 stock was sold at an average price of $72.02, for a total transaction of $891,535.58. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donna D. Garesche sold 2,143 shares of Boston Properties stock in a transaction dated 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.