Boston Properties, Inc. (NYSE:BXP) announced a quarterly dividend on Thursday, March 15th, RTT News reports. Stockholders of record on Thursday, March 29th will be paid a dividend of 0.80 per share by the real estate investment trust on Monday, April 30th. This represents a $3.20 annualized dividend and a dividend yield of 2.54%.
Boston Properties has raised its dividend by an average of 4.9% annually over the last three years. Boston Properties has a payout ratio of 51.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Boston Properties to earn $6.94 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 46.1%.
Shares of Boston Properties (BXP) traded up $0.32 on Thursday, hitting $125.91. 682,299 shares of the stock traded hands, compared to its average volume of 877,636. The firm has a market capitalization of $19,332.58, a PE ratio of 42.86, a PEG ratio of 3.42 and a beta of 0.60. Boston Properties has a 1-year low of $111.57 and a 1-year high of $137.35. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.43 and a quick ratio of 0.43.
Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.02. The business had revenue of $655.23 million for the quarter, compared to analysts’ expectations of $654.36 million. Boston Properties had a net margin of 17.67% and a return on equity of 5.86%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share. equities research analysts forecast that Boston Properties will post 6.32 EPS for the current year.
BXP has been the topic of several research reports. Royal Bank of Canada set a $140.00 price target on shares of Boston Properties and gave the stock a “buy” rating in a research report on Monday, November 27th. Argus reduced their price target on shares of Boston Properties to $140.00 and set a “buy” rating on the stock in a research report on Thursday, November 16th. Edward Jones raised shares of Boston Properties from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Bank of America raised shares of Boston Properties from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Thursday, February 15th. Finally, BMO Capital Markets set a $130.00 target price on shares of Boston Properties and gave the company a “hold” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $132.00.
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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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