Boston Properties, Inc. (NYSE:BXP) announced a quarterly dividend on Thursday, June 14th, RTT News reports. Shareholders of record on Friday, June 29th will be paid a dividend of 0.80 per share by the real estate investment trust on Tuesday, July 31st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.67%.
Boston Properties has increased its dividend payment by an average of 4.9% per year over the last three years. Boston Properties has a payout ratio of 51.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Boston Properties to earn $6.90 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 46.4%.
Shares of NYSE:BXP traded up $0.09 on Thursday, reaching $119.89. The company had a trading volume of 28,305 shares, compared to its average volume of 791,745. Boston Properties has a twelve month low of $111.57 and a twelve month high of $132.00. The stock has a market capitalization of $18.88 billion, a P/E ratio of 19.66, a P/E/G ratio of 3.25 and a beta of 0.57. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.14 and a quick ratio of 3.14.
Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $133.00 price objective (down previously from $136.00) on shares of Boston Properties in a research report on Tuesday, March 13th. Argus reissued a “buy” rating and set a $138.00 price objective (down previously from $140.00) on shares of Boston Properties in a research report on Monday, February 26th. Citigroup cut their price objective on Boston Properties from $129.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, May 2nd. Jefferies Financial Group reissued a “hold” rating on shares of Boston Properties in a research report on Tuesday, February 27th. Finally, Bank of America raised Boston Properties from a “neutral” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $131.54.
In related news, insider Bryan J. Koop sold 10,560 shares of the business’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $124.27, for a total transaction of $1,312,291.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.88% of the company’s stock.
About Boston Properties
Boston Properties is a fully integrated real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 50.3 million square feet and consisting of 167 office properties (including nine properties under construction), six residential properties (including four properties under construction), five retail properties and one hotel.
Receive News & Ratings for Boston Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Properties and related companies with MarketBeat.com's FREE daily email newsletter.