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Boston Properties (BXP) Declares Hike in Dividend by 15.4%
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Delighting its shareholders, Boston Properties, Inc. (BXP - Free Report) announced a 15.4% hike in its quarterly dividend rate. The company will now pay a dividend of 75 cents per share, 10 cents ahead of prior rate of 65 cents. The raised dividend for fourth-quarter 2016 will be paid on Jan 30, 2017 to shareholders on record as of Dec 30, 2016.
Based on the increased rate, the annual dividend comes to $3.00 per share, up from the prior annual rate of $2.60, leading to an annualized yield of about 2.4%, considering Boston Properties' closing price of $126.15 on Dec 19.
Boston Properties has registered a five-year annual dividend growth rate of 5.39%. The company has exceeded estimates in three of the trailing four quarters, with an average beat of 1.2%. With its properties located in select high-rent, high barrier-to-entry geographic markets, diversified tenant and industry base, the company is well poised to grow and benefit shareholders accordingly. Its foray into the Los Angeles market through the Colorado Center stake acquisition also augurs well.
Notably, solid dividend payouts remain arguably the biggest enticement for REIT investors as the U.S. law requires these companies to distribute at least 90% of their taxable income to shareholders, annually, in the form of dividends.
Apart from Boston Properties, a number of REITs have announced dividend hikes in recent times. Among them are CubeSmart (CUBE - Free Report) , Ventas, Inc. (VTR - Free Report) and SL Green Realty Corp. (SLG - Free Report) .
CubeSmart announced a 28.6% hike in its quarterly dividend rate to 27 cents from 21 cents paid earlier. The company will pay the raised dividend for the fourth quarter on Jan 17, 2017 to shareholders on record as of Jan 3.
Ventas’ new dividend of 77.5 cents per share marks an increase of 6% from that of its earlier payment. It will be paid in cash on Dec 30, 2016 to stockholders on record as of Dec 20.
Further, SL Green announced its fourth-quarter 2016 common stock dividend of 77.5 cents per share, marking a sequential increase of 7.6%. This takes the annual dividend payment to $3.10 per share and marks the sixth consecutive year of dividend hike. The company will pay the new dividend on Jan 17, 2017 to shareholders on record as of Jan 3.
Shares of Boston Properties have gained 4.3% over the past one month, against the Zacks categorized REIT – Equity Trust – Other industry’ increase of 4.9%.
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Boston Properties (BXP) Declares Hike in Dividend by 15.4%
Delighting its shareholders, Boston Properties, Inc. (BXP - Free Report) announced a 15.4% hike in its quarterly dividend rate. The company will now pay a dividend of 75 cents per share, 10 cents ahead of prior rate of 65 cents. The raised dividend for fourth-quarter 2016 will be paid on Jan 30, 2017 to shareholders on record as of Dec 30, 2016.
Based on the increased rate, the annual dividend comes to $3.00 per share, up from the prior annual rate of $2.60, leading to an annualized yield of about 2.4%, considering Boston Properties' closing price of $126.15 on Dec 19.
Boston Properties has registered a five-year annual dividend growth rate of 5.39%. The company has exceeded estimates in three of the trailing four quarters, with an average beat of 1.2%. With its properties located in select high-rent, high barrier-to-entry geographic markets, diversified tenant and industry base, the company is well poised to grow and benefit shareholders accordingly. Its foray into the Los Angeles market through the Colorado Center stake acquisition also augurs well.
Notably, solid dividend payouts remain arguably the biggest enticement for REIT investors as the U.S. law requires these companies to distribute at least 90% of their taxable income to shareholders, annually, in the form of dividends.
Apart from Boston Properties, a number of REITs have announced dividend hikes in recent times. Among them are CubeSmart (CUBE - Free Report) , Ventas, Inc. (VTR - Free Report) and SL Green Realty Corp. (SLG - Free Report) .
CubeSmart announced a 28.6% hike in its quarterly dividend rate to 27 cents from 21 cents paid earlier. The company will pay the raised dividend for the fourth quarter on Jan 17, 2017 to shareholders on record as of Jan 3.
Ventas’ new dividend of 77.5 cents per share marks an increase of 6% from that of its earlier payment. It will be paid in cash on Dec 30, 2016 to stockholders on record as of Dec 20.
Further, SL Green announced its fourth-quarter 2016 common stock dividend of 77.5 cents per share, marking a sequential increase of 7.6%. This takes the annual dividend payment to $3.10 per share and marks the sixth consecutive year of dividend hike. The company will pay the new dividend on Jan 17, 2017 to shareholders on record as of Jan 3.
Boston Properties currently has a Zacks Rank #3 (Hold). Presently, CubeSmart, Ventas and SL Green also carry a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Boston Properties have gained 4.3% over the past one month, against the Zacks categorized REIT – Equity Trust – Other industry’ increase of 4.9%.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>