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 2026-06-12
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, but the capital stance is capital unfriendly. Risk is moderate, and the sector backdrop is a headwind, with BXP trading above typical 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. If BXP cuts guidance on the next call, that could be a meaningful negative.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 7 valuation methods, at three horizons. Current price $66.28. 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 BXP trades at 46× p/e — 2.6× the 18× p/e peer median, and above its own 37× history. The market is re-rating it beyond its own range; our $62 fair value is low-confidence here. 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 6% near-term growth, in line with our forecast of about 7%. This describes what's priced in, not a forecast of the move.
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
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, 5 maintained. 50% of analysts rate Buy.
4 PT revisions / 30d. Avg target 12.2% 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 ±$138.
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 2026-06-12
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: Earnings results will show if BXP maintains its growth in a tough market.
Confirms one read:Q2 earnings were better than expected. Revenue grew strong despite market challenges.
Confirms the other:Q2 earnings were lower than expected. This shows ongoing problems in the real estate market.
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: 81 of 100 | full | moderate |
ARE Alexandria Real Estate Equities | Typical Show detailsSector percentile: 44 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 | high |
CUZ Cousins Properties | Below typical Show detailsSector percentile: 22 of 100 | full | moderate |
1 material management or governance event in the past 24 months, led by strategy shifts. 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 2026-06-12.
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 2026-06-12.
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: Progress in recycling capital can help make more money. It also supports future investments.
Confirms:BXP sells non-core assets. This helps increase net income.
Disproves:There are no big asset sales. Net income continues to decline.
Why it matters: Updates on asset sales will show how BXP is using money for future projects.
Confirms:They announced successful asset sales that match their strategic plan.
Disproves:There are no updates on asset sales. Delays in sales may show problems in execution.
Why it matters: Occupancy rates will show how much demand there is for BXP's properties.
Confirms one read:Occupancy rates in major markets are improving. This shows strong demand and client loyalty.
Confirms the other:Occupancy rates are falling or staying the same. This may show problems with client demand.
Why it matters: Occupancy rates in key markets show demand for office space. This shows BXP's portfolio health.
Confirms one read:Occupancy rates in Boston and New York rise above current levels.
Confirms the other:Occupancy rates in these markets drop or stay the same.
“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…