Boston Properties, Inc. (NYSE:BXP) announced a quarterly dividend on Monday, June 10th, Zacks reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.95 per share by the real estate investment trust on Wednesday, July 31st. This represents a $3.80 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, June 27th.
Boston Properties has increased its dividend payment by an average of 8.8% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Boston Properties has a payout ratio of 59.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Boston Properties to earn $7.43 per share next year, which means the company should continue to be able to cover its $3.80 annual dividend with an expected future payout ratio of 51.1%.
Shares of Boston Properties stock traded up $0.28 during trading on Tuesday, reaching $133.98. 10,361 shares of the stock traded hands, compared to its average volume of 706,512. The firm has a market cap of $21.03 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 3.06 and a beta of 0.91. The firm’s fifty day moving average price is $133.49. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.78 and a quick ratio of 3.78. Boston Properties has a 52-week low of $107.84 and a 52-week high of $140.35.
Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.06. The firm had revenue of $725.80 million during the quarter, compared to analyst estimates of $703.16 million. Boston Properties had a return on equity of 6.31% and a net margin of 18.15%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.49 earnings per share. On average, sell-side analysts predict that Boston Properties will post 6.99 EPS for the current year.
In other news, insider Bryan J. Koop sold 5,616 shares of Boston Properties stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $133.95, for a total transaction of $752,263.20. Following the completion of the sale, the insider now owns 10,175 shares of the company’s stock, valued at $1,362,941.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bryan J. Koop sold 4,121 shares of Boston Properties stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $134.40, for a total transaction of $553,862.40. Following the sale, the insider now directly owns 585 shares of the company’s stock, valued at approximately $78,624. The disclosure for this sale can be found here. 0.99% of the stock is owned by insiders.
Several research firms recently commented on BXP. Deutsche Bank lifted their price target on Boston Properties from $134.00 to $138.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Zacks Investment Research lowered Boston Properties from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. Morgan Stanley lifted their price target on Boston Properties from $116.00 to $123.00 and gave the stock an “underweight” rating in a research report on Monday, June 17th. ValuEngine lowered Boston Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Evercore ISI upgraded Boston Properties from an “in-line” rating to an “outperform” rating and set a $131.51 price target for the company in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Boston Properties presently has an average rating of “Hold” and a consensus price target of $137.29.
About Boston Properties
Boston Properties (NYSE: BXP) is one of the largest publicly-held developers and owners of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space.
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