Boston Properties, Inc. (BXP) to Issue Dividend Increase – $0.80 Per Share

Boston Properties, Inc. (NYSE:BXP) declared a quarterly dividend on Monday, December 18th, RTT News reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.80 per share by the real estate investment trust on Tuesday, January 30th. This represents a $3.20 annualized dividend and a yield of 2.47%. This is a boost from Boston Properties’s previous quarterly dividend of $0.75.

Boston Properties has a payout ratio of 48.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Boston Properties to earn $6.35 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 47.2%.

Shares of Boston Properties (NYSE BXP) traded up $2.70 during trading on Monday, reaching $129.41. 2,158,000 shares of the company’s stock traded hands, compared to its average volume of 684,825. The stock has a market cap of $19,970.81, a P/E ratio of 20.67, a P/E/G ratio of 3.70 and a beta of 0.63. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.44 and a quick ratio of 0.44. Boston Properties has a 52 week low of $116.77 and a 52 week high of $140.13.

Boston Properties (NYSE:BXP) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.03. The business had revenue of $657.70 million for the quarter, compared to the consensus estimate of $649.84 million. Boston Properties had a net margin of 19.42% and a return on equity of 6.43%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 earnings per share. sell-side analysts anticipate that Boston Properties will post 6.25 earnings per share for the current year.

In related news, insider Bryan J. Koop sold 5,868 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $124.55, for a total value of $730,859.40. Following the completion of the sale, the insider now owns 585 shares in the company, valued at $72,861.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.17% of the stock is owned by company insiders.

BXP has been the topic of several analyst reports. Royal Bank of Canada set a $140.00 target price on shares of Boston Properties and gave the company a “buy” rating in a report on Monday, November 27th. Argus lowered their target price on shares of Boston Properties to $140.00 and set a “buy” rating on the stock in a report on Thursday, November 16th. KeyCorp reaffirmed a “hold” rating on shares of Boston Properties in a report on Wednesday, October 4th. Mizuho reaffirmed a “hold” rating and issued a $122.00 target price on shares of Boston Properties in a report on Friday, November 3rd. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $124.00 target price on shares of Boston Properties in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $132.80.

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Boston Properties Company Profile

Boston Properties, Inc is a real estate investment trust. The Company is an owner and developer of office properties in the United States. Its segments by geographic area are Boston, New York, San Francisco and Washington, DC. Its segments by property type include Office, Residential and Hotel. As of December 31, 2016, the Company owned or had interests in 174 commercial real estate properties, aggregating approximately 47.7 million net rentable square feet of primarily Class A office properties, including eight properties under construction/redevelopment totaling approximately 4.0 million net rentable square feet.

Dividend History for Boston Properties (NYSE:BXP)

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