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

Boston Properties, Inc. (NYSE:BXP) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders of record on Monday, March 31st will be given 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 dividend yield of 5.73%.

Boston Properties has a dividend payout ratio of 203.1% 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 Down 0.7 %

Shares of BXP opened at $68.40 on Friday. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 684.06, a PEG ratio of 0.91 and a beta of 1.19. Boston Properties has a 52 week low of $56.46 and a 52 week high of $90.11. The stock’s 50-day moving average price is $70.27 and its 200-day moving average price is $76.52. The company has a quick ratio of 5.51, a current ratio of 5.69 and a debt-to-equity ratio of 2.09.

Boston Properties (NYSE:BXP) last posted its 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%. On average, sell-side analysts predict that Boston Properties will post 6.91 EPS for the current year.

Insider Transactions at Boston Properties

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BXP. Mizuho cut their price target on Boston Properties from $92.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Jefferies Financial Group assumed coverage on Boston Properties in a research report on Monday. They set a “buy” rating and a $78.00 target price on the stock. Wells Fargo & Company cut their price target on shares of Boston Properties from $88.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Wedbush downgraded shares of Boston Properties from a “hold” rating to a “strong sell” rating in a report on Thursday, January 30th. Finally, 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 note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $80.85.

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.