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Boston Properties Inc (BXP)




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Upturn Advisory Summary
09/16/2025: BXP (4-star) is a STRONG-BUY. BUY since 12 days. Simulated Profits (8.85%). Updated daily EoD!
1 Year Target Price $78.22
1 Year Target Price $78.22
6 | Strong Buy |
3 | Buy |
11 | Hold |
1 | Sell |
1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 54.17% | Avg. Invested days 46 | Today’s Advisory Strong Buy |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 13.65B USD | Price to earnings Ratio 3890.5 | 1Y Target Price 78.22 |
Price to earnings Ratio 3890.5 | 1Y Target Price 78.22 | ||
Volume (30-day avg) 22 | Beta 1.24 | 52 Weeks Range 53.45 - 86.38 | Updated Date 09/16/2025 |
52 Weeks Range 53.45 - 86.38 | Updated Date 09/16/2025 | ||
Dividends yield (FY) 5.08% | Basic EPS (TTM) 0.02 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 0.15% | Operating Margin (TTM) 29.01% |
Management Effectiveness
Return on Assets (TTM) 2.45% | Return on Equity (TTM) 0.95% |
Valuation
Trailing PE 3890.5 | Forward PE 39.84 | Enterprise Value 28352545247 | Price to Sales(TTM) 4 |
Enterprise Value 28352545247 | Price to Sales(TTM) 4 | ||
Enterprise Value to Revenue 8.21 | Enterprise Value to EBITDA 17.39 | Shares Outstanding 158376000 | Shares Floating 147021574 |
Shares Outstanding 158376000 | Shares Floating 147021574 | ||
Percent Insiders 0.39 | Percent Institutions 110.56 |
Upturn AI SWOT
Boston Properties Inc

Company Overview
History and Background
Boston Properties, Inc. (BXP) was founded in 1970. It is a self-administered and self-managed real estate investment trust (REIT). It has grown through strategic acquisitions and development of Class A office properties.
Core Business Areas
- Office Properties: Owns, manages, and develops Class A office properties in select markets.
- Retail Properties: Includes retail spaces within or adjacent to its office properties.
- Residential Properties: Includes residential units primarily adjacent to their larger developments.
- Life Science Properties: Develops and manages laboratory/life science buildings.
Leadership and Structure
Owen D. Thomas is the CEO. The company operates as a REIT with a board of directors overseeing management.
Top Products and Market Share
Key Offerings
- Class A Office Space: Leases Class A office space to tenants. Market share is not publicly available, but BXP is a leading office REIT. Competitors include SL Green Realty Corp. (SLG), Vornado Realty Trust (VNO).
- Life Science Buildings: Develops and leases lab and research spaces. Market share is difficult to define as BXP competes with Alexandria Real Estate Equities (ARE) and others in specific submarkets. Competitors include Alexandria Real Estate Equities (ARE).
Market Dynamics
Industry Overview
The REIT sector is influenced by interest rates, economic growth, and property demand. Demand for office space is evolving due to remote work trends while the demand for life science space is strong. Rising interest rates and inflation are significant challenges.
Positioning
Boston Properties is a premier office REIT focused on gateway markets. Its strengths lie in high-quality assets and strong tenant relationships. They are positioned towards large corporate clients with needs in urban areas. Its competitive advantages include strong development capabilities and a focus on premier locations.
Total Addressable Market (TAM)
The estimated total addressable market for commercial real estate (CRE) is substantial, estimated at trillions of dollars globally. Boston Properties focuses on gateway markets which is a significantly smaller percentage of this overall figure. They are positioned to compete for high-end tenants within this market, representing a smaller, yet profitable segment of the larger commercial real estate market.
Upturn SWOT Analysis
Strengths
- High-quality Class A properties
- Strong tenant relationships
- Experienced management team
- Focus on gateway markets
- Strong development capabilities
Weaknesses
- High concentration in specific markets
- Vulnerable to economic downturns
- High debt levels
- Exposure to declining office demand
Opportunities
- Expanding into new markets
- Developing life science properties
- Increasing occupancy rates
- Capitalizing on demand for flexible workspace
- Strategic acquisition of properties.
Threats
- Rising interest rates
- Economic recession
- Increased competition
- Changes in tenant demand due to remote work
- Property taxes increases
Competitors and Market Share
Key Competitors
- SLG
- VNO
- ARE
Competitive Landscape
Boston Properties competes on quality, location, and tenant services. It faces competition from other REITs, private developers, and property owners. Key competitors will include companies that also focus on building Class A properties and the life sciences industry.
Major Acquisitions
751 Gateway Boulevard
- Year: 2022
- Acquisition Price (USD millions): 291
- Strategic Rationale: Acquisition of life science campus in South San Francisco, furthering life science portfolio.
Growth Trajectory and Initiatives
Historical Growth: Historically, Boston Properties has grown through acquisitions, developments, and organic rent increases. Over the past few years they have been adding office spaces and some residencies.
Future Projections: Future growth depends on the economic environment, leasing activity, and the company's development pipeline. Analyst estimates vary, but generally project moderate growth in FFO. Projections are highly susceptible to changes in macroeconomic factors.
Recent Initiatives: Recent initiatives include developing new life science properties and redeveloping existing office spaces.
Summary
Boston Properties is a leading office REIT with high-quality assets in desirable markets. They have faced challenges due to remote work and rising interest rates, but they have a strong focus on innovation and life science. Their balance sheet carries a heavy load of debt and could make it difficult to grow aggressively. Maintaining occupancy rates and managing debt are critical for future success.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company reports, SEC filings, Analyst reports, Market research reports
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Market conditions and company performance are subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Boston Properties Inc
Exchange NYSE | Headquaters Boston, MA, United States | ||
IPO Launch date 1997-06-18 | CEO & Chairman of the Board Mr. Owen David Thomas | ||
Sector Real Estate | Industry REIT - Office | Full time employees 816 | Website https://www.bxp.com |
Full time employees 816 | Website https://www.bxp.com |
BXP, Inc. (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT). As of June 30, 2025, including properties owned by unconsolidated joint ventures, BXP's portfolio totals 53.7 million square feet and 186 properties, including ten properties under construction/redevelopment.

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