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

Boston Properties, Inc. (NYSE:BXP) announced a quarterly dividend on Wednesday, December 18th,RTT News reports. Shareholders 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 yield of 5.35%. The ex-dividend date is Tuesday, December 31st.

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. Research 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 1.2 %

BXP stock opened at $73.33 on Friday. The company has a debt-to-equity ratio of 2.01, a current ratio of 5.51 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. The business has a 50 day simple moving average of $82.06 and a two-hundred day simple moving average of $74.20. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 0.55 and a beta of 1.17.

Boston Properties (NYSE:BXP) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.28). Boston Properties had a return on equity of 4.40% and a net margin of 10.75%. The business had revenue of $859.23 million during the quarter, compared to the consensus estimate of $829.91 million. During the same quarter last year, the firm earned $1.86 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Research analysts anticipate that Boston Properties will post 7.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Truist Financial boosted their price objective 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 cut shares of Boston Properties from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Piper Sandler upgraded Boston Properties from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $78.00 to $105.00 in a research report on Wednesday, October 23rd. Evercore ISI increased their price objective on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Finally, Barclays lifted their price target on Boston Properties from $88.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Boston Properties currently has an average rating of “Hold” and a consensus price target of $81.38.

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.