Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. More Details
6 star dividend payer and slightly overvalued.
Share Price & News
How has Boston Properties's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BXP is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: BXP's weekly volatility (4%) has been stable over the past year.
7 Day Return
1 Year Return
Return vs Industry: BXP exceeded the US REITs industry which returned 41.1% over the past year.
Return vs Market: BXP underperformed the US Market which returned 50.8% over the past year.
Long-Term Price Volatility Vs. Market
How volatile is Boston Properties's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall StIf You Like EPS Growth Then Check Out Boston Properties (NYSE:BXP) Before It's Too Late
1 month ago | Simply Wall StReflecting on Boston Properties' (NYSE:BXP) Share Price Returns Over The Last Five Years
2 months ago | Simply Wall StHave Insiders Been Buying Boston Properties, Inc. (NYSE:BXP) Shares?
Is Boston Properties undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BXP ($108.2) is trading below our estimate of fair value ($115.14)
Significantly Below Fair Value: BXP is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: BXP is good value based on its PE Ratio (36.9x) compared to the US REITs industry average (44.3x).
PE vs Market: BXP is poor value based on its PE Ratio (36.9x) compared to the US market (19.8x).
Price to Earnings Growth Ratio
PEG Ratio: BXP is poor value based on its PEG Ratio (4x)
Price to Book Ratio
PB vs Industry: BXP is overvalued based on its PB Ratio (2.9x) compared to the US REITs industry average (1.8x).
How is Boston Properties forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BXP's forecast earnings growth (9.1% per year) is above the savings rate (2%).
Earnings vs Market: BXP's earnings (9.1% per year) are forecast to grow slower than the US market (14.7% per year).
High Growth Earnings: BXP's earnings are forecast to grow, but not significantly.
Revenue vs Market: BXP's revenue (5.7% per year) is forecast to grow slower than the US market (9% per year).
High Growth Revenue: BXP's revenue (5.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BXP's Return on Equity is forecast to be low in 3 years time (9.9%).
How has Boston Properties performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BXP has a large one-off gain of $149.2M impacting its March 31 2021 financial results.
Growing Profit Margin: BXP's current net profit margins (17%) are lower than last year (30.3%).
Past Earnings Growth Analysis
Earnings Trend: BXP's earnings have grown by 10.7% per year over the past 5 years.
Accelerating Growth: BXP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: BXP had negative earnings growth (-49.8%) over the past year, making it difficult to compare to the REITs industry average (-10.7%).
Return on Equity
High ROE: BXP's Return on Equity (6.8%) is considered low.
How is Boston Properties's financial position?
Financial Position Analysis
Short Term Liabilities: BXP's short term assets ($2.4B) exceed its short term liabilities ($508.6M).
Long Term Liabilities: BXP's short term assets ($2.4B) do not cover its long term liabilities ($13.4B).
Debt to Equity History and Analysis
Debt Level: BXP's debt to equity ratio (150.3%) is considered high.
Reducing Debt: BXP's debt to equity ratio has increased from 129% to 150.3% over the past 5 years.
Debt Coverage: BXP's debt is not well covered by operating cash flow (9.1%).
Interest Coverage: BXP's interest payments on its debt are not well covered by EBIT (2x coverage).
What is Boston Properties's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: BXP's dividend (3.62%) is higher than the bottom 25% of dividend payers in the US market (1.24%).
High Dividend: BXP's dividend (3.62%) is in the top 25% of dividend payers in the US market (3.42%)
Stability and Growth of Payments
Stable Dividend: BXP's dividends per share have been stable in the past 10 years.
Growing Dividend: BXP's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (73.4%), BXP's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BXP's dividends in 3 years are forecast to be covered by earnings (56.4% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Owen Thomas (58 yo)
Mr. Owen David Thomas is Global Chairman of the Urban Land Institute, Director of the Real Estate Roundtable, a member of the Executive Board of NAREIT and the former Chairman of the Pension Real Estate As...
CEO Compensation Analysis
Compensation vs Market: Owen's total compensation ($USD10.74M) is about average for companies of similar size in the US market ($USD11.15M).
Compensation vs Earnings: Owen's compensation has been consistent with company performance over the past year.
Experienced Management: BXP's management team is seasoned and experienced (10.8 years average tenure).
Experienced Board: BXP's board of directors are considered experienced (5 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Boston Properties, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: Boston Properties, Inc.
- Ticker: BXP
- Exchange: NYSE
- Founded: 1970
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: US$18.624b
- Market Cap: US$16.887b
- Shares outstanding: 172.13m
- Website: https://www.bostonproperties.com
Number of Employees
- Boston Properties, Inc.
- Prudential Center
- 800 Boylston Street
- United States
Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/05/16 22:31|
|End of Day Share Price||2021/05/14 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.