Jim Cramer Highlights BXP's Recovery Despite Dividend Cut

BXP, Inc. (NYSE:BXP) is one of the relatively cheap S&P 500 stocks Jim Cramer talked about. During the episode, Cramer highlighted that it is the only real estate stock that made it to the list. He remarked:

“Now, there’s only one single solitary real estate company that made our list, and that’s BXP. It’s a company, formerly known as Boston Properties, with a portfolio of mostly high-quality office properties in six major cities on the East and West Coast. Now, BXP trimmed its dividend earlier this month, which I thought, it was going to really kill it… But they did say they needed the cash to devote to growth projects, which is why I think the stock bounced right back. Even after that, it’s still got a 3.7% yield.”

BXP, Inc. (NYSE:BXP) is a fully integrated real estate investment trust that develops, owns, and manages premier workplaces. The company focuses on creating spaces that drive progress for clients and communities.

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Disclosure: None. This article is originally published at Insider Monkey.