BXP (BXP)
Owner, developer, and manager of premier workplaces across six U.S. gateway markets.
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Owns, develops, and manages office-led real estate across six U.S. gateway markets, earning primarily rent from premier workplaces. Life sciences, retail, residential, hotel, development, and property-management activities extend the platform, while most rental obligations come from central-business-district properties.
Owns, develops, redevelops, and manages premier workplaces, with office properties—including life sciences space—at the center of a portfolio that also includes retail, residential rentals, and a hotel. Rental income supplies the core economics, supplemented by development and property-management services. Properties are concentrated in Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC.
Runs leasing, construction, financing, capital markets, and property management through an integrated platform, while using joint ventures and asset sales to fund development and reshape the portfolio. Most rental obligations come from central-business-district properties. Cash flow therefore depends on workplace demand, occupancy, tenant credit, lease economics, and access to capital, while REIT rules and the operating-partnership structure govern how assets and income are held.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | Evercore ISI | Target | Target: $68 | Target: $67 |
| Sep 17, 2026 | Scotiabank | Reiterate | Rating: —Target: $74 | Target: $73 |
| Sep 9, 2026 | Truist Financial | Target | Target: $64 | Target: $68 |
| Sep 1, 2026 | Wells Fargo | Reiterate | Rating: —Target: $74 | Target: $82 |
| Aug 27, 2026 | Piper Sandler | Reiterate | Rating: —Target: $86 | Target: $88 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $553.5M · Total debt $16.36B · Total assets $25.17B · Shareholders' equity $5.16B
- Revenue
- $895.7M
- Operating income
- $258.9M
- Net income
- $68.6M
HistoryDividendAnnual yieldUpcoming
| Institutions | 113.01% | 180.43M shares | |
|---|---|---|---|
| 571 holders · as of Jun 30, 2026 | |||
| Insiders | 0.60% | 955.4K shares | |
| 7 holders · as of Jun 10, 2026 | |||
| Strategic holders | 8.17% | 13.04M shares | |
| 1 holder · as of Feb 1, 2021 | |||
| Adds to | 121.78% | ||
159.66M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 121.78%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Cohen & Steers, Inc.Institution | 14.27% | 22.78M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 11.26% | 17.98M | as of Jun 30, 2026 |
Norges Bank (The Central Bank of Norway)Strategic | 8.17% | 13.04M | filed Feb 1, 2021 |
Vanguard Portfolio Management LLCInstitution | 8.12% | 12.96M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.30% | 10.05M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 9, 2026 | Michael E. Labelle | officer: EVP and CFO | −26,113 | $66.35 |
| May 22, 2026 | Eric G. Kevorkian | officer: SVP, CLO and Secretary | −2,000 | $59.85 |
| May 21, 2026 | Eric G. Kevorkian | officer: SVP, CLO and Secretary | −200 | $60.23 |
| May 20, 2026 | Peter V. Otteni | officer: Executive Vice President | −4,863 | $59.06 |
| Feb 27, 2026 | Hilary J. Spann | officer: Executive Vice President | −5,495 | $59.69 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| BXP | $64.46 | +0.51% | $10.23B | 34.5 | 31.4 | 2.9 | +3.1% |
| Vornado Realty Trust | $35.47 | −0.31% | $6.69B | 1,074.9 | — | 3.7 | +4.7% |
| SL Green Realty | $52.81 | −0.25% | $3.77B | — | — | 3.6 | +16.5% |
| Kilroy Realty | $34.83 | +0.69% | $4.02B | 24.2 | 82.8 | 3.7 | −6.0% |
| Alexandria Real Estate Equities | $54.64 | +2.43% | $9.30B | — | — | 3.1 | −12.8% |
| Hudson Pacific Properties | $12.28 | +0.16% | $665.0M | — | — | 0.8 | −0.9% |
| Douglas Emmett | $10.44 | +0.24% | $1.74B | — | — | 1.7 | +1.6% |
| JBG SMITH | $11.07 | −1.29% | $653.0M | — | — | 1.3 | +2.3% |
| Empire State Realty Trust | $4.11 | −0.85% | $709.8M | — | — | 0.9 | +3.0% |
| Median | 549.6 | 82.8 | 2.4 | +2.0% |