Boston Properties, Inc. (BXP) To Go Ex-Dividend on March 31st

Boston Properties, Inc. (NYSE:BXP) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.98 per share by the real estate investment trust on Wednesday, April 30th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date of this dividend is Monday, March 31st.

Boston Properties has a payout ratio of 190.3% 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 $7.27 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 53.9%.

Boston Properties Price Performance

Boston Properties stock opened at $68.50 on Friday. The stock’s 50 day moving average is $70.28 and its 200 day moving average is $76.48. Boston Properties has a one year low of $56.46 and a one year high of $90.11. The firm has a market cap of $10.84 billion, a P/E ratio of 685.07, a P/E/G ratio of 0.91 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a current ratio of 5.69 and a quick ratio of 5.51.

Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, January 28th. The real estate investment trust reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $1.28. Boston Properties had a net margin of 0.38% and a return on equity of 3.90%. As a group, research analysts expect that Boston Properties will post 6.91 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BXP shares. Wells Fargo & Company lowered their target price on shares of Boston Properties from $88.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Truist Financial lifted 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. Piper Sandler lowered their target price on Boston Properties from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Scotiabank lowered their target price on Boston Properties from $85.00 to $83.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Finally, Wedbush downgraded Boston Properties from a “hold” rating to a “strong sell” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Boston Properties currently has a consensus rating of “Hold” and a consensus price target of $80.85.

Insider Transactions at Boston Properties

In other Boston Properties news, EVP Donna D. Garesche sold 2,143 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $67.87, for a total transaction of $145,445.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Hilary J. Spann sold 12,379 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $72.02, for a total value of $891,535.58. Following the sale, the executive vice president now directly owns 7,271 shares of the company’s stock, valued at $523,657.42. This represents a 63.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by insiders.

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.