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BXP·BXP, Inc.

$63.81
-0.69 (-1.07%)
After Hours
High
$64.63
Open
$64.29
Market Cap
10.26B
52W High
$79.33
Low
$63.78
P. Close
$63.81
P/E
34.56
52W Low
$49.72
Fwd P/E
29.02
DailyIQ Est.
$78.04
Inst. Ownership
49.5%
Short Interest
6.99%
Days to Cover
9.3
Technical Score (1D)
14
SELL
News Sentiment
54
MIXED
Boston Properties’ top executives will speak at the BofA Securities 2026 Global Real‑Estate Conference on September 15‑17, a routine investor‑relations event that could provide fresh insight into the company’s operating environment and strategic priorities. The presentation is unlikely to move the stock immediately, but it offers a window for analysts to refine their outlooks on BXP’s portfolio performance and capital‑allocation plans. Shortly after, Truist Securities lifted its price target from $64 to $68 while keeping a Hold rating, citing confidence in BXP’s balance‑sheet strength and its ability to generate stable cash flow amid a recovering real‑estate market. The upgrade signals a modest bullish stance that may influence short‑term sentiment as the market digests the company’s earnings trajectory. Wells Fargo followed suit, raising its target to $82 and upgrading BXP to Overweight, driven by expectations of continued rental growth and a favorable market environment for office and multifamily assets. The higher target underscores a belief that BXP’s portfolio can sustain earnings momentum, but investors should watch the next earnings release for rent‑growth data and any changes in debt levels that could affect valuation. Piper Sandler’s recent downgrade to a target of $88 from $90 reflects caution amid rising rates and a softening commercial‑real‑estate market, suggesting that higher discount rates and potential rent‑growth constraints may temper near‑term upside. This divergence in analyst sentiment highlights uncertainty that could play out over the next 10 trading days. UBS and JPMorgan have both raised their targets to $70 and $87 respectively, reinforcing a consensus that BXP’s earnings outlook is improving, particularly with 1.3 million square feet of signed leases and a capital‑recycling strategy ahead of schedule. The consensus upgrade points to a potential earnings acceleration, but the impact will hinge on the company’s ability to convert signed leases into cash flow before the end of the year. In the backdrop, BXP’s Q2 leasing performance—106 contracts covering 1.8 million square feet and an occupancy of 88.4%—provides a solid operational foundation, yet the company still faces execution risks on high‑profile projects like 343 Madison Avenue, where a $1.2 billion loan has reduced equity needs but leasing and construction remain critical. Finally, BXP’s $700 million senior‑note offering, set to close on August 31, will refinance $1 billion of 2026 debt, improving liquidity and credit metrics. The closing status and any subsequent refinancing activity will be key to monitor, as they could influence the company’s debt profile and cost of capital in the coming weeks.
Earnings Summary
BXP, Inc. is a leading real estate investment trust that owns, develops, and manages high‑quality office properties across six key gateway markets in the United States, positioning itself as a premier workplace provider within the commercial real‑estate sector. The company’s strategy focuses on a fully integrated portfolio of 187 properties totaling roughly 54.6 million square feet, with ongoing development and redevelopment projects that reinforce its competitive stance. In the most recent quarter, Q4 2025, BXP reported earnings per share of $1.76, a sharp increase from the $0.28 estimate and a significant improvement over the $0.56 EPS in Q2 2025, while revenue fell to $809.15 million from $868.46 million in Q2, indicating a modest revenue decline but a strong earnings turnaround. The company’s Q1 2026 EPS of $1.59 beat the $0.3384 estimate, and revenue of $818.16 million was slightly below the $852.78 million estimate, underscoring a pattern of earnings beats amid revenue softness. Historically, BXP has shown a YoY revenue growth trajectory that has been relatively flat in recent quarters, yet it has consistently delivered EPS beats in the last four quarters, reflecting effective cost management and a resilient rental income base. The recent news cycle highlights analyst sentiment shifts: multiple upgrades to price targets from UBS, JPMorgan, and Wells Fargo, coupled with a downgrade from Piper Sandler, illustrate divergent views on the impact of rising rates and market softness. The company’s senior‑note offering and refinancing activity, as well as its strong leasing performance in Q2 2025, provide context for its liquidity and debt profile. Investors should watch for rent‑growth data and any changes in debt levels in the next earnings release, as these factors will be key to assessing the sustainability of the current earnings momentum and the company’s ability to convert signed leases into cash flow before year‑end.

EPS

EstBeatMiss
$-0.68$0.01$0.70$1.39$2.08Q1'25Q2'25Q3'25Q4'25Q1'26Q3'26
QtrEstActual+/−
Q3'26$0.54 - -
Q1'26$0.34$1.59+369.9%
Q4'25$0.28$1.76+528.6%
Q3'25$0.39$-0.36-194.0%
Q2'25$0.42$0.56+33.6%
Q1'25$0.33$0.40+22.5%

Revenue

EstBeatMiss
$795M$825M$856M$886M$916MQ1'25Q2'25Q3'25Q4'25Q1'26Q3'26
QtrEstActual+/−
Q3'26$902M - -
Q1'26$853M$818M-4.1%
Q4'25$852M$809M-5.0%
Q3'25 - $872M -
Q2'25 - $868M -
Q1'25 - $865M -

Market Data

BXP Stock Snapshot

SELL14/100
$63.84+$0.03 (0.0%)
Market cap
10.26B
P/E ratio
34.6
Day range
$63.78 – $64.63
News sentiment
54/100 · Neutral
Analyst target
$76.70 (+20.1%)
Consensus
Hold · 27 analysts
52-week range+28.4% off low · -19.5% from high
$49.72$79.33
Price $63.84 DailyIQ Est. $78.04

Momentum has rolled over on BXP, Inc., which is what drives the bearish read. Earnings and guidance carry more weight than macro data at this capitalisation.

Behaviour On Record

What BXP's own history says about today's numbers

Realized volatility (21d)
27.9% 63rd pct
Below its peak
-56.4%
vs 200-day average
+1.1%
Up days (1y)
49%

BXP, Inc. is currently running 27.9% annualised volatility over the last 21 sessions. Measured against BXP's own 13 years of daily returns rather than a market-wide average, that is the 63rd percentile a little above its own norm, against a typical reading of 23.5%. The distinction matters because a number that looks calm for one stock is turbulent for another, and the absolute figure on its own tells you neither.

BXP is trading -56.4% below its running peak. Across 12 full years on file, its median worst-drawdown-in-a-year was -20.9%, and the deepest was -51.7% in 2020. The current drawdown is already deeper than this stock's typical annual low point, which puts it in the part of its range where past recoveries began — and where past declines also continued.

Price sits +1.1% from its 200-day moving average. Against every other day in its history, that gap ranks at the 52nd percentile close to the gap it normally carries. Over the past year BXP closed higher on 49% of sessions, and it is currently 2 sessions into a falling streak.

On September specifically: over 14 years of records, BXP finished the month higher 6 of 14 times, with a median return of -3.9% and an average of -1.6%. Its strongest month historically has been November at +3.8% on average, its weakest March at -3.2%. Seasonality is a weak signal on its own — a decade is a small sample and regimes change — but it is a real distribution rather than a rule of thumb.

Overnight risk is measurable too: BXP has opened more than 2% away from the prior close in 127 of 3,268 sessions (3.9% of the time), with the largest gaps running +7.6% and -9.0%. For anyone holding through an event, that rate is a better guide to overnight exposure than the intraday range.

All figures computed from 3,269 daily closes between 2013-09-16 and 2026-09-15, split-adjusted, recomputed daily. Percentiles are against BXP's own 13-year history, not a peer group or index.

Sector Rotation

Is money rotating into or out of BXP's sector?

BXP, Inc. sits in the Real Estate sector, currently ranked 8th of 11 GICS sectors by relative-strength rotation score (lagging).

Sector rank
#8 of 11
Sector state
Lagging
Sector rotation score
40

Options Market

What is the options market pricing for BXP?

CallsPuts

For BXP, Inc.'s nearest expiry (2026-09-18, 3 days out), open interest is call-heavy, a bullish tilt (put/call ratio of 0.75), with at-the-money implied volatility around 54.2%. The options market is pricing roughly a ±4.6% move by that expiry — a range of about $60.89–$66.79.

Put/call ratio (2026-09-18)
0.75
ATM implied volatility
54.2%
Total open interest
1,918
Expected move by 2026-09-18
±4.6% ($60.89–$66.79)

Analyst Rating Changes

Are analysts turning bullish or bearish on BXP?

Truist Securities most recently reiterated its rating on BXP, Inc. to Hold on Sep 9, 2026 with a price target of $68 (from $64). Over the last 90 days, coverage has run 1 upgrade against 0 downgrades, a net bullish lean.

Latest action
Truist SecuritiesHold
90-day upgrades
1
90-day downgrades
0
Net rating momentum
+1
DateFirmActionRatingPrice target
Sep 9, 2026Truist SecuritiesMaintainedHold$64 → $68
Sep 1, 2026Wells FargoMaintainedOverweight$77 → $82
Aug 27, 2026Piper SandlerMaintainedOverweight$90 → $88
Aug 25, 2026UBSMaintainedNeutral$61 → $70
Aug 25, 2026JP MorganMaintainedOverweight$79 → $87
Aug 5, 2026ScotiabankMaintainedSector Outperform$74 → $76
Aug 4, 2026CitigroupMaintainedNeutral$58 → $69
Jul 21, 2026ScotiabankMaintainedSector Outperform$70 → $74
Jul 21, 2026Piper SandlerMaintainedOverweight$75 → $86
Jul 21, 2026MizuhoMaintainedNeutral$62 → $68
Jul 21, 2026BarclaysMaintainedOverweight$65 → $79
Jul 8, 2026Ladenburg ThalmannMaintainedBuy$70 → $80

BXP Competitive Positioning

BXP, Inc. (BXP) is tracked alongside these names in REIT - Office on DailyIQ — ranked by market cap, with today's move alongside.