It would be great to have an option that sized the rectangle to the size that your text needs. Currently, you need to manually resize your box, which can look quite poor and it's a game to get it just the right size.

In the above screen snip, notice that there is extra space below and to the right of the text in the box. I have a margin of 0.1". My only option right now is to drag the handles to the point just before the text disappears on me.