Boston Properties | REIT Profile

Symbol: BXP
CIK: 1037540
Exchange: NYSE
Founded: 1970 (51 years)
HQ: Boston, MA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Large-Cap
REIT Sector: Office, Residential, Hotel, Retail, Diversified

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See BXP on SEC.gov

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Overall Score: 7.7

See score breakdown | See trend

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


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Hightlights of Trading Day October 14, 2021


Open Price: $116.77
Closing Price: $116.25
Price Change: 0.47 (0.406%)
Lowest Price: $115.36
Highest Price: $116.91

52-Week Low: $67.14
52-Week High: $122.13
52-Week Change: 50.96%

5 Day Price Change: 2.55%
1 Month Price Change: 5.57%
3 Month Price Change: 0.41%
6 Month Price Change: 11.54%
YTD Price Change: 25.79%
1 Year Price Change: 50.67%
2 Year Price Change: -2.35%
5 Year Price Change: 5.48%

Dividend of Trading Day October 14, 2021


Dividend Yield: 3.372%*
Annualized Dividend: $3.92*
Dividend Yield (TTM): 3.342%
Annualized Dividend (TTM): $3.869
Ex-Dividend Date: 2021-09-29
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)


Funds From Operations (FFO)

Key Stats of Trading Day October 14, 2021


Total Cash: $557,307,000
Current Debt: $583,073,000
Revenue: $2,785,859,000
Gross Profit: $2,785,859,000
Total Revenue: $2,785,859,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $1,518,192,000
Revenue Per Share: $18
Revenue Per Employee: $3,665,604
Employee: 750
Debt to Equity Ratio (D/E): 3.83
Profit Margin: 0.11%
Enterprise Value (EV): $30,303,406,429
Enterprise Value to Revenue (EV/R): 10.88
Price to Sales (P/S): 6.49
Price to Book (P/B): 3.14
Peg Ratio: -0.85
P/E Ratio: 60.23
P/E High: 17.72
P/E Low: 15.29
Forward P/E Ratio: 45.78
Market Capitalization: $18,154,666,943
Beta: 1.07
Latest Volume: 727,623.00
Avg. Total Volume: 692,569
Avg. 10 Volume: 691,382.00
Avg. 30 Volume: 692,569.00
TTM EPS: 1.93
TTM Dividend Rate: 3.87
Shares Outstanding: 156,169,178
Float: N/A
50-Day Moving Avg.: 111.60
200-Day Moving Avg.: 111.72

Latest REIT Community Comments on #BXP


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Properties Owned by BXP


Properties Based on REIT's Official Presentation

Properties Types States Countries
193 4 4 1

Please visit REIT’s official webpage for the most up-to-date property list.

BXP Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website

Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $136.75 per share you would have been able to buy 7 shares of BXP on 2020-10-15 costing $957.25 @ $136.75 per share you would have been able to buy 3 shares of BXP on 2020-10-15 costing $410.25 @ $136.75 per share you would have been able to buy 1 shares of BXP on 2020-10-15 costing $136.75 @ $136.75 per share you would have been able to buy 0 shares of BXP on 2020-10-15 costing $0.00 @ $136.75 per share you would have been able to buy 0 shares of BXP on 2020-10-15 costing $0.00
Current worth On 2021-10-14 these 7 shares would be worth $813.75 @ $116.25 On 2021-10-14 these 3 shares would be worth $348.75 @ $116.25 On 2021-10-14 these 1 shares would be worth $116.25 @ $116.25 On 2021-10-14 these 0 shares would be worth $0.00 @ $116.25 On 2021-10-14 these 0 shares would be worth $0.00 @ $116.25
Dividends earned $34.30 in dividends would have been earned since 2020-10-15 with 7 shares. $15 in dividends would have been earned since 2020-10-15 with 3 shares. $4.90 in dividends would have been earned since 2020-10-15 with 1 shares. $0.00 in dividends would have been earned since 2020-10-15 with 0 shares. $0.00 in dividends would have been earned since 2020-10-15 with 3 shares.
Net (gain / loss)* -109.20 USD -46.80 USD -15.60 USD 0.00 USD 0.00 USD
ROI** -11.41% -11.41% -11.41% nan% nan%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by BXP. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
BXP 2021-09-29 0.980 --- 2021-09-14 2021-09-30 2021-10-29
BXP 2021-06-29 0.980 --- 2021-06-14 2021-06-30 2021-07-30
BXP 2021-03-30 0.980 --- 2021-03-18 2021-03-31 2021-04-30
BXP 2020-12-30 0.980 --- 2020-12-15 2020-12-31 2021-01-28
BXP 2020-09-29 0.980 --- 2020-09-18 2020-09-30 2020-10-30
BXP 2020-06-29 0.980 --- 2020-06-19 2020-06-30 2020-07-31
BXP 2020-03-30 0.980 --- 2020-03-19 2020-03-31 2020-04-30
BXP 2019-12-30 0.980 3.16% 2019-12-17 2019-12-31 2020-01-30
BXP 2019-09-27 0.950 --- 2019-09-17 2019-09-30 2019-10-31
BXP 2019-06-27 0.950 --- 2019-06-10 2019-06-28 2019-07-31
BXP 2019-03-28 0.950 --- 2019-03-18 2019-03-29 2019-04-30
BXP 2018-12-28 0.950 --- 2018-12-17 2018-12-31 2019-01-30
BXP 2018-09-27 0.950 18.75% 2018-09-18 2018-09-28 2018-10-31
BXP 2018-06-28 0.800 --- 2018-06-14 2018-06-29 2018-07-31
BXP 2018-03-28 0.800 --- 2018-03-15 2018-03-29 2018-04-30
BXP 2017-12-28 0.800 6.67% 2017-12-18 2017-12-29 2018-01-30
BXP 2017-09-28 0.750 --- 2017-09-15 2017-09-29 2017-10-31
BXP 2017-06-28 0.750 --- 2017-06-16 2017-06-30 2017-07-31
BXP 2017-03-29 0.750 --- 2017-03-16 2017-03-31 2017-04-28
BXP 2016-12-28 0.750 15.38% 2016-12-19 2016-12-30 2017-01-30

Financial Statements Overview


Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2021-06-30 2021-03-31 2020-12-31 2020-09-30
Current Cash 557,307,000 697,369,000 1,668,742,000 1,714,783,000
Receivables 77,711,000 70,162,000 1,296,194,000 101,634,000
Inventory 0 0 0 0
Current Assets 2,601,061,000 2,780,990,000 3,038,233,000 3,040,021,000
Current Assets (Other) 1,924,567,000 1,974,457,000 33,840,000 1,188,670,000
Short Term Investments 1,924,567,000 1,974,457,000 33,840,000 1,188,670,000
Long-term Investments 19,458,015,000 19,432,562,000 19,819,957,000 19,919,194,000
Property, Plant & Equipment Net 17,664,357,000 17,491,863,000 17,672,401,000 17,741,337,000
Goodwill 0 0 0 0
Intangible Assets 0 0 0 0
Other Assets 237,765,000 237,017,000 640,085,000 750,560,000
Net Tangible Assets 5,749,342,000 5,775,641,000 5,796,083,000 5,929,568,000
Total Assets 22,059,076,000 22,213,552,000 22,858,190,000 22,959,215,000
Accounts Payable 0 0 0 0
Liabilities (Other) 370,990,000 0 412,084,000 369,932,000
Current Liabilities (Other) 583,073,000 908,518,000 613,634,000 605,855,000
Total Current Liabilities 583,073,000 908,518,000 613,634,000 605,855,000
Current Long-term Debt 0 0 0 0
Long-term Debt 12,779,446,000 12,775,625,000 13,284,250,000 13,287,053,000
Total Liabilities 16,300,754,000 16,230,232,000 16,855,210,000 16,829,647,000
Minority Interest 2,340,651,000 2,345,706,000 2,343,529,000 2,365,470,000
Common Stock 156,107,000 155,928,000 155,686,000 6,349,632,000
Retained Earnings -612,247,000 -570,982,000 -509,653,000 -364,720,000
Treasury Stock -2,722,000 -2,722,000 -2,722,000 -2,722,000
Capital Surplus 0 0 0 0
Shareholder Equity 5,758,322,000 5,983,320,000 6,002,980,000 6,129,568,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2021-06-30 2021-03-31 2020-12-31 2020-09-30
Total Revenue 713,807,000 713,695,000 665,089,000 693,268,000
Cost of Revenue 0 0 0 0
Gross Profit 713,807,000 713,695,000 665,089,000 693,268,000
Research and Development 0 0 0 0
Selling General and Admin 287,108,000 302,348,000 287,247,000 286,123,000
Operating Expense 477,721,000 484,800,000 537,592,000 465,819,000
Operating Income 236,086,000 228,895,000 127,497,000 227,449,000
Income Expense Net (Other) 0 0 0 0
EBIT 236,086,000 234,120,000 125,665,000 227,449,000
Interest Income 106,319,000 107,902,000 111,991,000 110,993,000
Pretax Income 141,250,000 128,147,000 24,905,000 118,060,000
Income Tax 0 0 0 0
Minority Interest 29,547,000 27,551,000 13,928,000 25,581,000
Net Income 111,703,000 91,624,000 8,688,000 89,854,000
Net Income Basic 111,703,000 91,624,000 8,688,000 89,854,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2021-06-30 2021-03-31 2020-12-31 2020-09-30
Net Income 111,703,000 91,624,000 8,688,000 89,854,000
Depreciation 184,538,000 178,828,000 685,985,000 517,405,000
Changes in Receivables 77,711,000 70,162,000 1,296,194,000 -6,391,000
Changes in Inventories 0 0 0 0
Cash Change 557,307,000 697,369,000 1,668,742,000 23,736,000
Cash Flow 408,413,000 152,063,000 374,417,000 782,423,000
Capital Expenditures -217,815,000 -245,414,000 -877,056,000 -648,119,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -321,338,000 -242,273,000 -225,308,000 -388,411,000
Dividends Paid 0 0 0 0
Net Borrowings 10,297,572,000 10,103,799,000 11,581,668,000 10,383,600,000
Cash Flow Financing -398,978,000 -679,936,000 -194,569,000 678,891,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

About Boston Properties


Boston Properties, Inc. a self-administered and self-managed real estate investment trust (REIT), is one of the largest owners, managers, and developers of first-class office properties in the United States, with significant presence in five markets: Boston, Los Angeles, New York, San Francisco and Washington, DC.

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
9 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.8
10 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.4
9 Dividend to FFO Payout Ratio Health: Analysis of the REIT’s Dividend to FFO Payout Ratios during the last four quarters. 8.8
10 Dividend to FFO Payout Ratio Trend: Analysis of the REIT’s Dividend to FFO Payout Ratios trend during the last two years. 7.7
Rating AFFO & Efficiency Section Avg. Rating
7 FFO Trend: Analysis of the REIT’s FFO trend during the last two years. 7.8
7 FFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.8
10 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 8.7
10 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 9.2
Rating Leverage Section Avg. Rating
9 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 7.4
10 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 8.9
10 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.9
8 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.4
3 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 4.9
3 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.7
Rating Asset & Revenue Section Avg. Rating
5 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 5.3
7 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 6.0
Rating Properties Section Avg. Rating
7 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.1
4 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 6.3
8 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.2
10 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 7.9
Rating Market Cap Section Avg. Rating
6 Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. 5.6
7.7 Overall REITRating™ Score (See trend) 6.2

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

REITProperty


Below are some of the properties owned by this BXP. Please click on the property name to see more details. See complete list of properties.

Name Type Address City State
Federal Street Office 100 Federal Street Boston MA
Clarendon Street Office 200 Clarendon Street Boston MA
Atlantic Wharf Office 280 Congress Street Boston MA

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Last updated: 2021-10-15 - v1.9