Boston Properties, Inc. (BXP) To Go Ex-Dividend on September 30th

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 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 dividend yield of 4.85%. The ex-dividend date 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 Price Performance

BXP stock opened at $80.76 on Friday. The stock’s 50 day moving average is $73.53 and its two-hundred day moving average is $65.98. Boston Properties has a 52-week low of $50.64 and a 52-week high of $83.85. The company has a market capitalization of $12.68 billion, a PE ratio of 66.20, a P/E/G ratio of 0.38 and a beta of 1.18. 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 (NYSE:BXP) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($1.21). The company 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 quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.86 EPS. Analysts predict that Boston Properties will post 7.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BXP has been the topic of several research reports. StockNews.com upgraded Boston Properties from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Morgan Stanley restated an “equal weight” rating and set a $62.00 price objective on shares of Boston Properties in a research note on Thursday, June 20th. Piper Sandler boosted their target price on shares of Boston Properties from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company raised their price target on shares of Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Finally, Evercore ISI boosted their price objective on shares of Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $74.83.

Insider Transactions at Boston Properties

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

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.