Reading BXP? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track BXP free→Reading BXP? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track BXP free→NYSEReal EstateReit - OfficeSnapshot 2026-06-16
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
Recent financial performance is strong, and earnings quality is robust, cash backs up reported profits. Management's recent track record has been fairly steady, though the capital stance is capital unfriendly. Risk is moderate, and the sector backdrop is a headwind, with BXP trading above typical levels compared to sector peers. Peer multiples imply a price about 8% below where it trades (it looks expensive on this basis); the read is fair, quality intact. Key factors to watch include any guidance cuts from BXP and trends among sector bellwethers.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 7 valuation methods, at three horizons. Current price $65.76. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $66 the market pays 46× p/e — above the 17× p/e peer median but in line with its own 40× history. That premium reflects a durable franchise our peer-anchored $60 fair value understates; treat the 'expensive vs peers' read with low confidence. Analysts: $61–$81. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The market is pricing in roughly 9% near-term growth, in line with our forecast of about 7%. This describes what's priced in, not a forecast of the move.
No fragility gates fired. Regime (Mania) does not concentrate fragility.
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 3 of the last 3 quarter-over-quarter moves. Historically, Real Estate names rated strong grew net income 57% of the time over the next year (vs 54% for the rest of the cohort, n=1506).
Over the trailing year it converted 4.50x of net income into operating cash flow. Historically, Real Estate names rated robust grew net income 59% of the time over the next year (vs 50% for the rest of the cohort, n=1399).
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity.
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $0.43 → $0.44 (+1.3% / 30d). 0 raised, 0 cut, 2 covering analysts.
0 upgrades, 0 downgrades / 30d, 3 maintained. 50% of analysts rate Buy.
3 PT revisions / 30d. Avg target 10.0% above current price.
0 positive, 1 negative / 30d. See F4 management tile for the event list.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Met or beat guidance 43% of the last 7 guided quarters · -24.9% avg surprise
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$136.
How much price usually moves either way.
On a bad day, this stock has moved -$302.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $3,355.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-16
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: Changes in interest rates can affect BXP's borrowing costs and financial health.
Confirms:The Federal Reserve raises interest rates by more than 25 basis points.
Disproves:The Federal Reserve keeps interest rates the same or lowers them.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for BXP yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Material Impairments Consistent with the strategic asset sales plan outlined at BXP, Inc.’s September 2025 Investor Day, on May 27, 2026, a subsidiary of Boston Properties Limited Partnership (“BPLP”) entered into an agreement to sell certain property (the "Property") comprised of (1) the leasehold interest in the real property commonly known as Sumner Square, located at the corner of 17th and M Street, NW in Washington, DC, and (2) the improvements located thereon, consisting of three buildi…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
$61.00 – $81.00 (median $64.00) · 9 analysts · as of 2026-06-02
Looks more expensive than peers.
Richer than its own typical valuation.
Trailing four: 2024-Q3, 2025-Q1, 2025-Q2, 2025-Q3
A side-by-side read on sector standing, valuation, and risk versus Office REITs.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
BXP BXP, Inc. | Above typical Show detailsSector percentile: 79 of 100 | full | moderate |
ARE Alexandria Real Estate Equities | Typical Show detailsSector percentile: 48 of 100 | inexpensive | elevated |
VNO Vornado Realty Trust | Above typical Show detailsSector percentile: 74 of 100 | inexpensive | moderate |
HPP Hudson Pacific Properties, Inc. | Typical Show detailsSector percentile: 59 of 100 | inexpensive | elevated |
CUZ Cousins Properties | Below typical Show detailsSector percentile: 25 of 100 | full | moderate |
4 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Real Estate names rated neutral grew net income 57% of the time over the next year (vs 55% for the rest of the cohort, n=5004).
Not investment advice. As of 2026-06-16.
via XLRE
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-16.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Dispose of assets that no longer meet investment profile to reinvest in future opportunities.
Leverage strengths in portfolio quality and client relationships to build market share.
Maintain focus on markets with strong economic growth and investment characteristics.
Why it matters: Changes in occupancy rates can signal demand for office space in BXP's key markets.
Confirms one read:Occupancy rates in Boston, New York, and San Francisco rise by over 2% each quarter.
Confirms the other:Occupancy rates in these markets decline by more than 2% quarter over quarter.
Why it matters: Updates will show how BXP manages its properties and uses its money.
Confirms:BXP says it has sold assets for over $200 million.
Disproves:BXP reports delays or problems with planned asset sales.
“Results of Operations and Financial Condition” is being furnished. Such information, including Exhibits 99.1 and 99.2 hereto, shall not be deemed “filed” for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in this Item 2.02, including Exhibits 99.1 and 99.2, shall not be deemed incorporated by reference into any filing under the Securities Ac…
Other Events. On March 6, 2026, BXP, Inc. (the “Company”) and Boston Properties Limited Partnership, the Company’s operating partnership (the “Partnership”), filed an automatic shelf registration statement on Form S-3 (File No. 333-294080) (the “Universal Shelf Registration Statement”) with the Securities and Exchange Commission (the “SEC”) to replace an existing shelf registration statement, which was scheduled to expire on May 17, 2026. In connection with the filing of this new registration…
Entry into or Amendment of a Material Definitive Agreement. On September 29, 2025, Boston Properties Limited Partnership (the “ Partnership ”), the operating partnership of BXP, Inc. (the “ Company ”) completed the issuance and sale of $1.0 billion aggregate principal amount of the Partnership’s 2.00% Exchangeable Senior Notes due 2030 (the “ Notes ”) pursuant to the purchase agreement among the Partnership, the Company and Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Truist Securiti…
The Notes were issued to the initial purchasers in reliance upon Section 4(a)(2) of the Securities Act in transactions not involving any public offering. The Notes were resold by the initial purchasers to persons whom the initial purchasers reasonably believe are “qualified institutional buyers,” as defined in, and in accordance with, Rule 144A under the Securities Act. Any shares of the Company’s common stock that may be issued upon exchange of the Notes will be issued in reliance upon Secti…