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. Investors of record on Monday, September 30th will be paid 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 4.85%. The ex-dividend date of this dividend is Monday, September 30th.

Boston Properties has a payout ratio of 209.6% meaning 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 Price Performance

Shares of Boston Properties stock opened at $80.76 on Friday. Boston Properties has a 52 week low of $50.64 and a 52 week high of $83.85. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 1.90. The company’s 50-day moving average price is $73.53 and its two-hundred day moving average price is $65.98. The stock has a market cap of $12.68 billion, a PE ratio of 66.20, a price-to-earnings-growth ratio of 0.38 and a beta of 1.18.

Boston Properties (NYSE:BXP) last released 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). The business had revenue of $850.48 million during the quarter, compared to the consensus estimate of $819.49 million. Boston Properties had a return on equity of 2.05% and a net margin of 5.01%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 earnings per share. As a group, sell-side analysts anticipate that Boston Properties will post 7.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BXP has been the topic of a number of recent research reports. Wedbush lifted their target price on Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Truist Financial upped 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. Scotiabank lifted their target price on shares of Boston Properties from $76.00 to $82.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, September 11th. Morgan Stanley restated an “equal weight” rating and issued a $62.00 price target on shares of Boston Properties in a research report on Thursday, June 20th. Finally, Wells Fargo & Company raised their price objective on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Boston Properties currently has a consensus rating of “Hold” and a consensus target price of $74.83.

Insider Buying and Selling at Boston Properties

In other news, EVP Peter V. Otteni sold 4,785 shares of the company’s stock in a transaction 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 filing with the SEC, which can be accessed through the SEC website. In related news, EVP Peter V. Otteni sold 4,785 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Raymond A. Ritchey sold 21,835 shares of Boston Properties stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $74.25, for a total transaction 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.