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

Boston Properties, Inc. (NYSE:BXP) declared a quarterly dividend on Wednesday, December 18th,RTT News reports. Shareholders of record on Tuesday, December 31st will be paid 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 5.25%. The ex-dividend date of this dividend is Tuesday, December 31st.

Boston Properties has a payout ratio of 204.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Performance

BXP opened at $74.61 on Friday. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 2.01. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 0.55 and a beta of 1.17. Boston Properties has a 12-month low of $56.46 and a 12-month high of $90.11. The business has a 50 day moving average of $80.73 and a 200-day moving average of $74.97.

Boston Properties (NYSE:BXP) last announced its quarterly earnings results 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). Boston Properties had a net margin of 10.75% and a return on equity of 4.40%. The business had revenue of $859.23 million for the quarter, compared to analyst estimates of $829.91 million. During the same period in the prior year, the business earned $1.86 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts expect that Boston Properties will post 7.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BXP shares. UBS Group increased their price target 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. Evercore ISI upped their target price on Boston Properties from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Compass Point raised Boston Properties from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $88.00 in a report on Thursday, November 14th. Piper Sandler raised Boston Properties from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $78.00 to $105.00 in a report on Wednesday, October 23rd. Finally, Truist Financial increased their price objective on Boston Properties from $77.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.