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

Boston Properties, Inc. (NYSE:BXP) declared a quarterly dividend on Wednesday, December 18th,RTT News reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.98 per share by the real estate investment trust on Thursday, January 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.28%.

Boston Properties has a payout ratio of 200.0% 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 $7.12 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 55.1%.

Boston Properties Trading Down 7.6 %

NYSE BXP traded down $6.13 during trading on Wednesday, hitting $74.23. The stock had a trading volume of 1,598,244 shares, compared to its average volume of 1,258,749. The stock has a 50 day simple moving average of $82.40 and a 200 day simple moving average of $74.20. The stock has a market capitalization of $11.74 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 0.55 and a beta of 1.17. The company has a debt-to-equity ratio of 2.01, a quick ratio of 5.51 and a current ratio of 5.51. Boston Properties has a one year low of $56.46 and a one year high of $90.11.

Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.28). The business had revenue of $859.23 million for the quarter, compared to analysts’ expectations of $829.91 million. Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 earnings per share. Sell-side analysts predict that Boston Properties will post 7.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Evercore ISI increased their price objective on shares of Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Truist Financial upped their target price on shares of Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. StockNews.com lowered shares of Boston Properties from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Barclays boosted their price target on shares of Boston Properties from $88.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Finally, UBS Group lifted their target price on shares of Boston Properties from $64.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $81.38.

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.