Boston Properties (BXP) Declares $0.98 Dividend

Boston Properties said on March 20, 2023 that its board of directors declared a regular quarterly dividend of $0.98 per share ($3.92 annualized). Previously, the company paid $0.98 per share.

Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 28, 2023.

At the current share price of $53.59 / share, the stock's dividend yield is 7.31%. Looking back five years and taking a sample every week, the average dividend yield has been 3.64%, the lowest has been 2.43%, and the highest has been 7.58%. The standard deviation of yields is 0.94 (n=237).

The current dividend yield is 3.90 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.72. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 48.80% Upside

As of March 21, 2023, the average one-year price target for Boston Properties is $79.74. The forecasts range from a low of $65.65 to a high of $106.05. The average price target represents an increase of 48.80% from its latest reported closing price of $53.59.

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The projected annual revenue for Boston Properties is $3,203MM, an increase of 5.59%. The projected annual non-GAAP EPS is $2.43.

What is the Fund Sentiment?

There are 1246 funds or institutions reporting positions in Boston Properties. This is a decrease of 27 owner(s) or 2.12% in the last quarter. Average portfolio weight of all funds dedicated to BXP is 0.23%, an increase of 0.45%. Total shares owned by institutions decreased in the last three months by 2.27% to 172,212K shares. The put/call ratio of BXP is 1.13, indicating a bearish outlook.

What are Large Shareholders Doing?

Norges Bank holds 12,696K shares representing 8.10% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Jpmorgan Chase & holds 7,877K shares representing 5.03% ownership of the company. In it's prior filing, the firm reported owning 7,759K shares, representing an increase of 1.49%. The firm decreased its portfolio allocation in BXP by 15.99% over the last quarter.

APG Asset Management US holds 7,451K shares representing 4.75% ownership of the company. In it's prior filing, the firm reported owning 7,554K shares, representing a decrease of 1.38%. The firm decreased its portfolio allocation in BXP by 11.93% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 6,750K shares representing 4.31% ownership of the company. In it's prior filing, the firm reported owning 6,826K shares, representing a decrease of 1.12%. The firm decreased its portfolio allocation in BXP by 5.03% over the last quarter.

Capital Research Global Investors holds 4,539K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Boston Properties Background Information
(This description is provided by the company.)

Boston Properties is the largest publicly held developer and owner of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space. The Company's portfolio totals 51.2 million square feet and 196 properties, including seven properties under construction.

This story originally appeared on Fintel.