Boston Properties Inc. (NYSE:BXP) announced a quarterly dividend on Thursday, September 1st. Shareholders of record on Friday, September 30th will be paid a dividend of 0.65 per share on Monday, October 31st. This represents a $2.60 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, September 28th.
Shares of Boston Properties (NYSE:BXP) opened at 139.09 on Tuesday. The firm’s 50-day moving average price is $140.03 and its 200-day moving average price is $132.62. The firm has a market cap of $21.38 billion, a price-to-earnings ratio of 35.66 and a beta of 0.76. Boston Properties has a 52 week low of $107.28 and a 52 week high of $144.02.
Boston Properties (NYSE:BXP) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.04. Boston Properties had a return on equity of 7.89% and a net margin of 24.01%. The business had revenue of $623.50 million for the quarter, compared to the consensus estimate of $612.38 million. During the same quarter in the previous year, the company posted $1.36 earnings per share. Boston Properties’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts expect that Boston Properties will post $5.98 EPS for the current fiscal year.
A number of research analysts have commented on BXP shares. Zacks Investment Research upgraded Boston Properties from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a research note on Monday, June 20th. Deutsche Bank AG restated a “buy” rating and issued a $152.00 target price (up previously from $151.00) on shares of Boston Properties in a research note on Monday, July 18th. Barclays PLC boosted their target price on Boston Properties from $149.00 to $159.00 and gave the company an “overweight” rating in a research note on Tuesday, July 19th. Morgan Stanley downgraded Boston Properties from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $140.00 to $145.00 in a research note on Monday, July 25th. Finally, Mizuho boosted their target price on Boston Properties from $125.00 to $131.00 and gave the company a “neutral” rating in a research note on Thursday, July 28th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $144.91.
In other news, Director Martin Turchin sold 1,504 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $140.31, for a total value of $211,026.24. Following the sale, the director now directly owns 2,857 shares in the company, valued at approximately $400,865.67. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Francis Powers sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $141.90, for a total value of $1,419,000.00. The disclosure for this sale can be found here. 6.17% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in BXP. Baird Financial Group Inc. raised its stake in Boston Properties by 5.3% in the second quarter. Baird Financial Group Inc. now owns 2,986 shares of the company’s stock valued at $395,000 after buying an additional 150 shares in the last quarter. Virtu Financial LLC raised its stake in Boston Properties by 7.0% in the second quarter. Virtu Financial LLC now owns 2,632 shares of the company’s stock worth $347,000 after buying an additional 173 shares during the period. Bank of Nova Scotia raised its stake in Boston Properties by 6.6% in the second quarter. Bank of Nova Scotia now owns 3,071 shares of the company’s stock worth $405,000 after buying an additional 190 shares during the period. American International Group Inc. raised its stake in Boston Properties by 0.3% in the second quarter. American International Group Inc. now owns 58,557 shares of the company’s stock worth $7,724,000 after buying an additional 194 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Boston Properties by 3.1% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,947 shares of the company’s stock worth $916,000 after buying an additional 210 shares during the period. Institutional investors own 95.57% of the company’s stock.
About Boston Properties
Boston Properties, Inc is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company is engaged in owning and developing office properties in the United States. The Company’s properties are concentrated in four markets: Boston, New York, San Francisco and Washington, DC.
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