Boston Properties, Inc. Plans Quarterly Dividend of $0.75 (BXP)
Boston Properties, Inc. (NYSE:BXP) declared a quarterly dividend on Friday, September 15th, RTT News reports. Shareholders of record on Friday, September 29th will be given a dividend of 0.75 per share by the real estate investment trust on Tuesday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 2.45%.
Boston Properties has a dividend payout ratio of 48.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Boston Properties to earn $2.93 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 102.4%.
Boston Properties (NYSE:BXP) traded up 0.06% during trading on Friday, hitting $122.40. 832,698 shares of the company’s stock traded hands. Boston Properties has a 12-month low of $113.69 and a 12-month high of $140.26. The stock has a market cap of $18.89 billion, a P/E ratio of 41.49 and a beta of 0.64. The firm’s 50-day moving average price is $121.22 and its 200 day moving average price is $125.63.
Boston Properties (NYSE:BXP) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.05. Boston Properties had a net margin of 18.18% and a return on equity of 5.98%. The business had revenue of $656.90 million for the quarter, compared to the consensus estimate of $645.96 million. During the same quarter last year, the firm posted $1.44 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts anticipate that Boston Properties will post $2.73 earnings per share for the current fiscal year.
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Several equities research analysts recently issued reports on the stock. TheStreet raised shares of Boston Properties from a “c” rating to a “b-” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada downgraded shares of Boston Properties from a “top pick” rating to an “outperform” rating and dropped their price target for the stock from $150.00 to $140.00 in a research note on Thursday, August 17th. BidaskClub raised shares of Boston Properties from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Barclays PLC dropped their price target on shares of Boston Properties from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, August 31st. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $127.00 price target on shares of Boston Properties in a research note on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $134.55.
About Boston Properties
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.
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