BXP Inc Dossier
|
SectorReal Estate IndustryREIT - Office Beta (adjusted)1.01 Intrinsic Value $74.03median of 1 methodbased on filings through 30 Jun 2026 Market Price $61.11Price as of 30 Sep 2026 UndervaluedIntrinsic value is 21% above the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $11.1B Enterprise Value $27.2B Shares Outstanding 159.5M diluted Next Earnings Date27 Oct 2026 Last ex-dividend30 Jun 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary BXP's second-quarter results show an improving operating trajectory: occupancy reached 88.4%, quarterly revenue increased 3.1%, FFO was $1.78 per diluted share, and management raised full-year 2026 FFO guidance to $6.99-$7.05. The recovery is not yet complete, however, because occupancy remains below management's longer-term objective and the Sumner Square impairment illustrates continuing asset-level pressure. More than $1.0 billion of strategic dispositions provides evidence of capital-recycling execution. A Hold balances this progress against execution risk. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$60.00 Mean target$75.15 High · most bullish analyst$91.00 Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $60.0018% Occupancy finishes 2026 below 89%, FFO falls below the current guidance floor, or additional asset-level weakness produces further impairments and slows portfolio stabilization. Base CaseCentral scenario $75.1558% Matches the consensus meanOccupancy continues to recover toward management's year-end objective and full-year FFO remains within the $6.99-$7.05 guidance range, but residual vacancies and selective asset impairments keep the recovery gradual. Bull CaseUpside scenario $91.0024% Leasing momentum converts signed commitments into occupancy near 90% by year-end 2026 and approximately 91% by year-end 2027, while FFO remains at or above the current guidance range and capital recycling supports continued portfolio improvement. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |