BXP, Inc. (NYSE:BXP – Get Free Report) declared a quarterly dividend on Wednesday, September 16th. Investors of record on Wednesday, September 30th will be given a dividend of 0.70 per share by the real estate investment trust on Friday, October 30th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 30th.
BXP has decreased its dividend by an average of 0.0%annually over the last three years. BXP has a payout ratio of 147.4% 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 $7.18 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 39.0%.
BXP Trading Down 0.2%
Shares of BXP stock opened at $63.89 on Friday. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 2.07. The firm has a market cap of $10.20 billion, a P/E ratio of 34.35, a PEG ratio of 2.39 and a beta of 1.01. The company has a 50 day moving average of $68.08 and a 200-day moving average of $62.13. BXP has a 12-month low of $49.72 and a 12-month high of $78.23.
Hedge Funds Weigh In On BXP
Several institutional investors and hedge funds have recently made changes to their positions in BXP. Sequoia Financial Advisors LLC purchased a new position in BXP in the 2nd quarter worth $215,000. Integrated Wealth Concepts LLC purchased a new stake in BXP during the second quarter valued at about $195,000. NewEdge Advisors LLC boosted its position in BXP by 14,654.2% during the second quarter. NewEdge Advisors LLC now owns 3,541 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 3,517 shares during the period. Allworth Financial LP grew its stake in shares of BXP by 118.2% during the second quarter. Allworth Financial LP now owns 3,253 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 1,762 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of BXP by 0.6% during the second quarter. Arizona State Retirement System now owns 41,582 shares of the real estate investment trust’s stock valued at $2,757,000 after buying an additional 238 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.
About BXP
BXP, Inc (NYSE:BXP), formerly known as Boston Properties, is a publicly traded real estate investment trust that owns, develops, redevelops, and manages commercial properties. The company’s portfolio is primarily focused on office buildings, with additional investments in residential, retail, and life sciences properties.
BXP serves major U.S. metropolitan markets, including Boston, Los Angeles, New York, San Francisco, and Washington, DC Its properties are generally located in established business districts and are designed to accommodate corporate offices, research and development activities, retail operations, and residential tenants.
Founded in 1970, the company has grown into one of the largest owners and developers of office properties in the United States.
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