BXP

BXP, Inc.

Real EstateREIT - OfficeNASDAQ

$60.01

-$0.12 (-0.20%)today

Conviction

5/ 10

Fair Value$71.25

Upside+18.73%

Signal9.37

Market Cap$9.1B

52W Range$49.72–$79.33

Next EarningsApr 28

Conviction History

Conviction Changes

No conviction changes recorded

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Price History

FAIR VALUE ANALYSISMonte Carlo · 5,000 runs · 99% valid

Fair Value$106.31

Current Price$51.43

Upside / Down+106.7%

P(Undervalued)100.0%

P(20%+ Up)100.0%

P(15%+ Down)0.0%

Fair Value Distribution — percentile bands

100.0% of simulations place fair value above current price

WHAT IS PRICED IN

Revenue-Based Reverse DCF

-8.1%/yr

±1.7% · revenue growth to justify current price

FCF-Based Reverse DCF

8.3%/yr

±2.8% · FCF growth to justify current price

THE GAP

Market pricing margin compression or rising capex

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Bull Case

Boston Properties Class-A office REIT; life science/tech tenants; Boston/NYC core markets.

Bear Case

Office vacancy secular trend; tech sublease pressure; development pipeline in soft market.

Updated Apr 7

Research Feed

sec_10kMar 4

Conviction: unchanged

BXP 2025 10-K: Office REIT Navigating Hybrid Work Reality

Office REIT navigating hybrid work transition. Strong capital structure and development pipeline, but elevated office vacancy and tenant demand uncertainty persist. Multi-year recovery trajectory.