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

Boston Properties, Inc. (NYSE:BXP) declared a quarterly dividend on Monday, September 9th, RTT News reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.98 per share by the real estate investment trust on Thursday, October 31st. This represents a $3.92 annualized dividend and a yield of 5.26%. The ex-dividend date of this dividend is Monday, September 30th.

Boston Properties has a payout ratio of 209.6% 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 $7.15 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 54.8%.

Boston Properties Trading Up 0.3 %

Shares of NYSE:BXP opened at $74.53 on Wednesday. The firm has a fifty day moving average of $69.37 and a two-hundred day moving average of $64.51. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 1.90. Boston Properties has a 12-month low of $50.64 and a 12-month high of $75.73. The firm has a market capitalization of $11.70 billion, a P/E ratio of 61.09, a price-to-earnings-growth ratio of 0.35 and a beta of 1.18.

Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The firm had revenue of $850.48 million during the quarter, compared to analysts’ expectations of $819.49 million. During the same quarter last year, the firm earned $1.86 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities analysts expect that Boston Properties will post 7.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on BXP. Wedbush increased their price objective on Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Evercore ISI raised their price target on shares of Boston Properties from $76.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Truist Financial lifted their price objective on shares of Boston Properties from $67.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. StockNews.com raised shares of Boston Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 price target on shares of Boston Properties in a research report on Thursday, June 20th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.50.

Insider Buying and Selling at Boston Properties

In other news, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Peter V. Otteni sold 4,785 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $73.44, for a total value of $351,410.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raymond A. Ritchey sold 21,835 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The disclosure for this sale can be found here. Company insiders own 1.35% of the company’s stock.

About Boston Properties

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.