Reading the tape
NYSE: BXP
BXP, Inc.
Real Estate · REIT - Office
Market Cap
$9.43B
52w High
$79.33
52w Low
$49.72
P/E
29.72
Volume
1.29M
Outstanding Shares
158.68M
Price vs Fundamentals
Why The Stock Is Moving
Mixed / unclearLow confidence
1Y Price: -6.47%Revenue (TTM): 1.62%FCF (TTM): -39.23%P/FCF: 73rd pct
What changed
The stock fell 6.47% over the last year. Revenue grew 1.62% over the trailing twelve months. Operating margin moved from 36.36% to 35.22%. Free cash flow declined 39.23% over the trailing twelve months.
What the market seems to be pricing
The stock has moved lower against modestly weakening underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 35.22%. A decisive move in revenue — currently up 1.62% — would be the clearest signal to resolve the ambiguity.
Company profile
Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC.
CEOOwen David Thomas
SectorReal Estate
IndustryREIT - Office
Employees816
IPO dateJun 18, 1997
Valuation
Forward P/E—
EV/EBITDA13.73
Enterprise value$26.62B
Price / Book1.83
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Revenue growth0.8%
Gross margin60.2%▼1.05%vs FY2024
Operating margin35.22%▲85.79%vs FY2024
ROE5.38%▲1939.73%vs FY2024
Analyst consensus
RatingBuy
Target price$72.10▲21.32%
23
Buy
18
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 4, 2026
Q3 FY26 · EPS est $0.46 · Revenue est $857.22M
View
Dividends
$3.08/shareQuarterlyAdequateBXP pays a dividend with a 5.18% dividend yield, covered 1.1× by free cash flow.
Dividend Yield
5.18%
Annual Div / Share
$3.08
5yr CAGR
-4.71%
Dividend has been cut
FCF Coverage
1.1×
Adequate
Dividend Growth Rate
3yr CAGR
-7.72%
5yr CAGR
-4.71%
10yr CAGR
-2.21%
Dividend Safety
5/10Adequate
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2025$3.08-21.4%
2024$3.92+0.0%
2023$3.92+0.0%
2022$3.92+0.0%
2021$3.92+0.0%
2020$3.92+1.6%
2019$3.86+5.8%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$52/yr
$4/mo
In 5 yrs
$52/yr
$4/mo
In 10 yrs
$52/yr
$4/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$52/yr $4/mo | $52/yr $4/mo | $52/yr $4/mo |
Analysis
Dividend Strengths
No strong strength signal stands out from the latest period pair.
Risks to Watch
Dividend has been reduced
The 5-year dividend CAGR of -4.71% is negative, indicating the payout has been cut over this period.