Boston Properties, Inc. (NYSE:BXP) announced a quarterly dividend on Tuesday, September 14th, RTT News reports. Shareholders of record on Thursday, September 30th will be given a dividend of 0.98 per share by the real estate investment trust on Friday, October 29th. This represents a $3.92 dividend on an annualized basis and a yield of 3.55%.
Boston Properties has raised its dividend by 28.5% over the last three years and has increased its dividend annually for the last 1 consecutive years.
Shares of NYSE BXP traded down $0.25 during trading on Tuesday, reaching $110.38. The stock had a trading volume of 452,334 shares, compared to its average volume of 1,025,695. Boston Properties has a fifty-two week low of $69.69 and a fifty-two week high of $124.24. The company has a debt-to-equity ratio of 1.58, a quick ratio of 4.75 and a current ratio of 4.75. The business’s 50-day moving average price is $115.07 and its 200-day moving average price is $111.93. The company has a market cap of $17.24 billion, a P/E ratio of 17.38, a PEG ratio of 2.93 and a beta of 1.22.
In related news, EVP Raymond A. Ritchey sold 45,000 shares of the stock in a transaction on Friday, September 3rd. The stock was sold at an average price of $113.15, for a total value of $5,091,750.00. Following the transaction, the executive vice president now directly owns 18,410 shares of the company’s stock, valued at approximately $2,083,091.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Peter V. Otteni sold 5,027 shares of the stock in a transaction on Friday, August 27th. The stock was sold at an average price of $113.36, for a total value of $569,860.72. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
Several analysts have recently weighed in on the company. Barclays assumed coverage on Boston Properties in a report on Wednesday, September 1st. They issued an “overweight” rating and a $134.00 target price for the company. Argus upped their price objective on Boston Properties from $120.00 to $132.00 and gave the company a “buy” rating in a research note on Monday, August 2nd. Wolfe Research started coverage on Boston Properties in a research note on Monday, June 14th. They set a “market perform” rating and a $142.00 price objective for the company. Piper Sandler upped their price objective on Boston Properties from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, September 1st. Finally, Mizuho initiated coverage on Boston Properties in a research report on Wednesday, July 14th. They set a “neutral” rating and a $115.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $114.71.
Boston Properties Company Profile
Boston Properties, Inc operates as a real estate investment trust. It develops, acquires, manages and owns a portfolio of Class A properties. The firm operates through the following geographical locations: Boston, New York, San Francisco and Washington. The company was founded by Mortimer Benjamin Zuckerman and Edward H.
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