BXP, Inc. (NYSE:BXP) Plans $0.98 Quarterly Dividend

BXP, Inc. (NYSE:BXP - Get Free Report) declared a quarterly dividend on Friday, June 20th, RTT News reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.98 per share by the real estate investment trust on Thursday, July 31st. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date is Monday, June 30th.

BXP has a payout ratio of 206.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect BXP 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%.

BXP Price Performance

NYSE:BXP traded down $0.42 during mid-day trading on Monday, reaching $71.05. 2,169,485 shares of the company were exchanged, compared to its average volume of 1,321,421. The company has a fifty day moving average of $67.30 and a 200 day moving average of $69.44. BXP has a 12 month low of $54.22 and a 12 month high of $90.11. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 2.04. The stock has a market cap of $11.25 billion, a PE ratio of -3,550.57, a PEG ratio of 5.84 and a beta of 1.16.

BXP (NYSE:BXP - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.01). The firm had revenue of $865.22 million for the quarter, compared to the consensus estimate of $833.89 million. BXP had a positive return on equity of 3.72% and a negative net margin of 0.16%. BXP's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $1.73 EPS. On average, research analysts anticipate that BXP will post 6.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BXP. Truist Financial dropped their price target on shares of BXP from $75.00 to $71.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Wells Fargo & Company cut their price target on BXP from $80.00 to $78.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Scotiabank lowered their price target on shares of BXP from $85.00 to $83.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Piper Sandler cut their price target on shares of BXP from $100.00 to $85.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. raised shares of BXP from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $72.00 to $78.00 in a research note on Monday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $79.54.

BXP Company Profile

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.