BXP, Inc. (NYSE:BXP) to Issue Quarterly Dividend of $0.98

BXP, Inc. (NYSE:BXP) declared a quarterly dividend on Friday, June 20th, RTT News reports. Investors 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 annualized dividend and a yield of 5.47%.

BXP has a dividend 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. 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 Stock Down 0.1%

Shares of BXP stock opened at $71.61 on Friday. The stock has a fifty day moving average price of $67.30 and a 200 day moving average price of $69.58. The stock has a market cap of $11.34 billion, a P/E ratio of -3,578.66, a price-to-earnings-growth ratio of 5.86 and a beta of 1.16. BXP has a one year low of $54.22 and a one year high of $90.11. The company has a debt-to-equity ratio of 2.04, a current ratio of 4.23 and a quick ratio of 4.23.

BXP (NYSE:BXP) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.01). The business 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 was up 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.73 earnings per share. Analysts predict that BXP will post 6.91 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Scotiabank cut their target price on BXP from $85.00 to $83.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Barclays cut their price objective on BXP from $89.00 to $79.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Piper Sandler reduced their target price on shares of BXP from $100.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Truist Financial reduced their target price on shares of BXP from $75.00 to $71.00 and set a “hold” rating on the stock in a research note on Tuesday, May 27th. Finally, Wells Fargo & Company cut their price target on shares of BXP from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $79.09.

About BXP

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.