BXP, Inc. (BXP) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$0.44

$0.43$0.44

2 analysts

Next Qtr

$0.51

$0.51$0.52

vs $-0.36+241.7%

2 analysts

Current Yr

$1.98

$1.78$2.08

3 analysts

Next Yr

$2.13

$1.98$2.21

vs $1.98+7.4%

3 analysts

Revenue Estimates

Current Qtr

$852.03M

$802.30M$879.32M

vs $868.46M-1.9%

4 analysts

Next Qtr

$866.61M

$818.20M$895.65M

vs $871.51M-0.6%

4 analysts

Current Yr

$3.48B

$3.25B$3.56B

vs $3.48B-0.2%

6 analysts

Next Yr

$3.57B

$3.33B$3.70B

vs $3.48B+2.7%

5 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for BXP on EDGAR.

BXP filing events and research context
Filed	Item	Context
Feb 27, 2026	business	BXP is a fully integrated REIT and the general partner of Boston Properties Limited Partnership, managing a portfolio of 179 commercial properties totaling approximately 52.6 million net rentable square feet. The portfolio consists primarily of office assets in major markets, including New York, Boston, and Washington, D.C., with flagship holdings such as 767 Fifth Avenue and 601 Lexington Avenue. Recent operational trends indicate a slight increase in Same Property Portfolio Net Operating Income, as higher average revenue per square foot offset a marginal occupancy decline to 88.7%. The company is actively divesting non-core assets, which led to 2025 impairment losses of approximately $85.8 million for BXP and $82.9 million for BPLP, in addition to a $145.1 million other-than-temporary impairment on the Gateway Commons joint venture. BXP maintains a $3.9 billion development pipeline across eight projects. To mitigate market volatility, the company employs a conservative capital structure with 91.29% fixed-rate debt and utilizes lease rent steps and resets to hedge against inflation. Liquidity is supported by a $1.5 billion revolving credit facility and a diversified debt profile comprising unsecured senior notes, commercial paper, and mortgage notes.
Feb 27, 2026	mda	BXP operates a portfolio of premier workplaces concentrated in six U.S. gateway markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. The company is capitalizing on a "flight to quality" trend, with CBD assets reaching 89.8% occupancy and 92.5% leasing as of December 31, 2025. To drive earnings growth and reduce leverage, BXP is executing a strategic action plan that includes a $1.17 billion asset disposition program covering land, residential properties, and non-strategic office assets. Key development activity includes the 930,000-square-foot 343 Madison Avenue project in New York. While BXP faces risks from inflation and shifting office utilization, it maintains a conservative capital structure with 91.29% of its $16.6 billion consolidated debt at fixed rates. Recent financial results were impacted by impairment losses on non-core assets and a $145.1 million charge related to Gateway Commons. Management expects occupancy gains in 2026, supported by a halt in new office construction and strong demand in high-quality submarkets such as Midtown Manhattan and Boston’s Back Bay.
Feb 27, 2026	risk_factors	BXP’s performance is heavily concentrated in six gateway markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. The company faces significant headwinds from sustained shifts toward hybrid and remote work models, as well as potential workforce reductions driven by artificial intelligence, both of which threaten demand for premier workplaces and depress rental rates. Financial risks are centered on a high degree of leverage, with consolidated debt of approximately $15.6 billion, and the challenge of refinancing maturing debt at current higher market rates. Operational risks include supply chain disruptions and labor shortages delaying development projects, alongside potential client bankruptcies. As a REIT, BXP is vulnerable to tax law changes and the risk of losing its tax-advantaged status, which would substantially reduce funds available for dividends. Additionally, the company is exposed to cybersecurity threats, environmental contamination liabilities, and physical climate risks affecting its coastal assets. The loss of key executive personnel, including CEO Owen D. Thomas, could further impair its ability to negotiate with lenders and joint venture partners. These factors, combined with market volatility and inflation, create material risks to BXP's cash flow and overall property valuations.

Filed

Item

Context

Feb 27, 2026

business

BXP is a fully integrated REIT and the general partner of Boston Properties Limited Partnership, managing a portfolio of 179 commercial properties totaling approximately 52.6 million net rentable square feet. The portfolio consists primarily of office assets in major markets, including New York, Boston, and Washington, D.C., with flagship holdings such as 767 Fifth Avenue and 601 Lexington Avenue. Recent operational trends indicate a slight increase in Same Property Portfolio Net Operating Income, as higher average revenue per square foot offset a marginal occupancy decline to 88.7%. The company is actively divesting non-core assets, which led to 2025 impairment losses of approximately $85.8 million for BXP and $82.9 million for BPLP, in addition to a $145.1 million other-than-temporary impairment on the Gateway Commons joint venture. BXP maintains a $3.9 billion development pipeline across eight projects. To mitigate market volatility, the company employs a conservative capital structure with 91.29% fixed-rate debt and utilizes lease rent steps and resets to hedge against inflation. Liquidity is supported by a $1.5 billion revolving credit facility and a diversified debt profile comprising unsecured senior notes, commercial paper, and mortgage notes.

Feb 27, 2026

mda

BXP operates a portfolio of premier workplaces concentrated in six U.S. gateway markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. The company is capitalizing on a "flight to quality" trend, with CBD assets reaching 89.8% occupancy and 92.5% leasing as of December 31, 2025. To drive earnings growth and reduce leverage, BXP is executing a strategic action plan that includes a $1.17 billion asset disposition program covering land, residential properties, and non-strategic office assets. Key development activity includes the 930,000-square-foot 343 Madison Avenue project in New York. While BXP faces risks from inflation and shifting office utilization, it maintains a conservative capital structure with 91.29% of its $16.6 billion consolidated debt at fixed rates. Recent financial results were impacted by impairment losses on non-core assets and a $145.1 million charge related to Gateway Commons. Management expects occupancy gains in 2026, supported by a halt in new office construction and strong demand in high-quality submarkets such as Midtown Manhattan and Boston’s Back Bay.

Feb 27, 2026

risk_factors

BXP’s performance is heavily concentrated in six gateway markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. The company faces significant headwinds from sustained shifts toward hybrid and remote work models, as well as potential workforce reductions driven by artificial intelligence, both of which threaten demand for premier workplaces and depress rental rates. Financial risks are centered on a high degree of leverage, with consolidated debt of approximately $15.6 billion, and the challenge of refinancing maturing debt at current higher market rates. Operational risks include supply chain disruptions and labor shortages delaying development projects, alongside potential client bankruptcies. As a REIT, BXP is vulnerable to tax law changes and the risk of losing its tax-advantaged status, which would substantially reduce funds available for dividends. Additionally, the company is exposed to cybersecurity threats, environmental contamination liabilities, and physical climate risks affecting its coastal assets. The loss of key executive personnel, including CEO Owen D. Thomas, could further impair its ability to negotiate with lenders and joint venture partners. These factors, combined with market volatility and inflation, create material risks to BXP's cash flow and overall property valuations.

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BXP filing events and research context

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