2 models fit BXP Inc. Common Stock and they agree: 2 of 2 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Large premium(i)Silver61
Valued as a REIT (property company): Price to FFO, Dividend discount, and EV/EBITDA comparison.
ACCE opinionBXP Inc. Common Stock (BXP)
Fair value (2 models)
$17.55
ACCE price target
$54.20
Rating
Overvalued
Horizon
12 months
Fair value published on 19 Oct 2026, 18:04 CEST; previously $29.12 since 4 Oct 2026, 00:00 CEST.
ACCE price target published on 18 Oct 2026, 00:00 CEST; previously $72.00 since 17 May 2026, 00:00 CEST.
Rating published on 19 Oct 2026, 18:04 CEST.
Price used: $62.10 at the close on 23 Oct 2026, 22:00 CEST.
Models: Dividend discount and Price to FFO.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
253.9% above
-71.7% to fair value
ACCE score
44
out of 100
Analysts
55% buy
22 covering
P/E
33.1x
forward 27.3x
1-year return
-15.8%
Dividend yield
4.77%
BXP Inc. Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
BXP owns and develops Class A office towers, mainly in Boston, New York, San Francisco, Washington DC and Los Angeles, and leases them to tenants that include large law, finance and technology firms. Its moat is the quality of the buildings themselves: trophy-grade assets in supply-constrained core markets tend to hold occupancy better than the commodity office stock that has dragged on the sector. Revenue growth of 3.7% is modest, and the stock trades at 32.1 times trailing earnings and 27.3 times forward, a premium that assumes the leasing recovery and rate relief arrive on schedule. The ROE of 5.3% and a 28.8% operating margin show a business that earns a thin return on a heavy asset base, so the case rests on whether office fundamentals in its core markets turn before the balance sheet is tested. The score of 46/100 and the absence of any index membership suggest the market has not yet rewarded that recovery, which makes it worth a deeper look at occupancy trends, lease expirations and refinancing schedule before any view is formed.
⚠ Investor warnings · 4 flagsAI-assisted·How I use AI
high
Earnings collapse
Earnings down 23.2% YoY while revenue grew only 3.7%. Operating leverage broken; net margin 9.3% suggests significant cost pressures or one-time charges.
high
Elevated leverage for REIT
Debt/Equity 2.12 is high for office sector facing structural headwinds. Limited deleveraging capacity if occupancy or rents deteriorate further.
moderate
Score deterioration
ACCE score fell 6 points in 90 days (54 to 48). Growth and momentum scores weak; valuation score (58) does not offset fundamental concerns.
moderate
Insider selling, no buying
$2.48M in insider sales over last 10 disclosures; zero buys.
AI research notes
AI-assisted·How I use AIWritten Oct 11, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Free cash flow yield of 8.2% substantially exceeds the trailing P/E multiple of 31.7x, suggesting cash generation is undervalued.
Latest earnings beat expectations by 4.1% and the company generated $881M in free cash flow over the last twelve months.
Why it could disappoint
Return on invested capital of 1.0% and ROE of 5.3% indicate capital is not being deployed productively for shareholders.
Debt to equity of 2.12 combined with a trailing P/E of 31.7x leaves little margin for error if interest rates remain elevated.
Revenue growth of 3.7% year over year and 3.9% five-year average is modest for a stock trading at 28.3x forward earnings.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Oct 27, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where BXP's valuation models land
Price
$62.10
Model fair value
$17.55
Model range
$16.51 to $18.59
Fair value $17.55
Price $62.10
The price is above the whole model range.
Model
Fair value
Upside
Dividend discount
EV/EBITDA comparison
Price to FFO
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Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
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+Conviction breakdown and growth / value / quality / momentum scores