BXP Stock: Is Wall Street Bullish or Bearish?

Core Viewpoint - BXP, Inc. is a significant player in the real estate investment trust (REIT) sector, focusing on high-quality office properties in major U.S. cities, with recent performance reflecting both challenges and opportunities in the current macroeconomic environment [1][2]. Company Overview - BXP, Inc., formerly known as Boston Properties, Inc., is headquartered in Boston, Massachusetts, and has expanded its operations beyond Boston to key markets including New York, San Francisco, Los Angeles, Seattle, and Washington, D.C. [1][2] - The company has a market capitalization of $10.95 billion [2]. Stock Performance - Over the past 52 weeks, BXP's stock has decreased by 11.8%, with a modest gain of 1.9% over the last six months. The stock reached a 52-week low of $54.22 in April but has since increased by 27.5% from that low [3]. - In comparison, the S&P 500 Index has increased by 12.3% and 11.1% over the same periods, indicating that BXP has underperformed the broader market [4]. - The Real Estate Select Sector SPDR Fund (XLRE) has declined by 5.8% over the past 52 weeks and 2.8% over the past six months, suggesting BXP has underperformed its sector over the past year but has outperformed it in the last six months [4]. Financial Performance - For the third quarter of fiscal 2025, BXP reported a revenue increase of 1.4% year-over-year (YOY) to $871.51 million, exceeding Wall Street's expectations of $807.9 million [5]. - The funds from operations (FFO) per share for the quarter was $1.74, which, while lower than the $1.81 reported a year earlier, was above the expected $1.72 [5]. - The company experienced strong leasing momentum, signing over 1.5 million square feet of leases in the third quarter, reflecting a 38% YOY increase with a weighted-average lease term of 7.9 years [6]. Future Outlook - Analysts project a profit decline of 2.8% YOY for fiscal year 2025, estimating earnings of $6.90 per share, but expect a recovery with a 2.2% annual increase to $7.05 per share in fiscal 2026 [7]. - BXP has a mixed history of meeting consensus estimates, having surpassed them in two of the last four quarters, matched them in one, and missed in one [7].