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Companies / Real Estate / BXP, Inc.
BXP

BXP, Inc.

Real EstateREITsS&P 500
Ticker BXPBOSTON, MAFiscal year ends DecemberBook value per share $32.35Diluted shares 159.3M

BXP, Inc. (NYSE: BXP) is a self-managed real estate investment trust that develops, owns and manages primarily office workplaces, with additional retail, residential and hotel properties. Its properties are concentrated in Boston, Los Angeles, New York, San Francisco, Seattle and Washington, DC, and serve commercial… From the company’s description.

In fiscal 2025, BXP, Inc. reported revenue of $3.48B, up 2.2% from fiscal 2024, and net income of $384.00M. Its operating margin was 29.1%, and operations generated $1.25B in cash. Over the twelve months to Jun 30, 2026, revenue was $3.52B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$3.48BFY2025
+2.2% year over year
Last 12 mo $3.52B
29.05%FY2025
−0.9 percentage points
$384.00MFY2025
+356.1% year over year
Last 12 mo $413.42M
5.38%FY2025
+5.1 percentage points
Last 12 mo 5.76%
Cash & financing
$1.25BFY2025
+0.9% year over year
Last 12 mo $1.28B
$288.86MFY2025
−26.6% year over year
Last 12 mo $275.39M
3.30FY2025
Was 3.06× a year earlier
Last 12 mo 3.10
158.9MFY2025
+0.7% year over year
Last 12 mo 159.3M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What BXP, Inc. does

In the company’s own words

BXP, Inc. (NYSE: BXP) is a self-managed real estate investment trust that develops, owns and manages primarily office workplaces, with additional retail, residential and hotel properties. Its properties are concentrated in Boston, Los Angeles, New York, San Francisco, Seattle and Washington, DC, and serve commercial tenants across these markets. BXP provides in-house acquisition, development, construction, leasing and property-management services, and conducts substantially all of its business through Boston Properties Limited Partnership. The company reports a single operating segment, real estate, and invests in properties directly and through joint ventures. At December 31, 2025, BXP owned or held joint venture interests in 179 commercial properties totaling approximately 52.6 million net rentable square feet, including properties under construction or redevelopment. The portfolio comprised 157 office properties, 14 retail properties, seven residential properties and one hotel. Founded in 1997, BXP succeeded a real estate business established in 1970. Its website is http://www.bxp.com.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
BOSTON, MA
Fiscal year end
December
CIK
1037540
SIC
6798

Financial performance, year by year

Fiscal 2013–2025 · USD
$-351.65M$703.29M$1.76B$2.81B$3.87B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns BXP, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

484
funds hold it
0 of 35
superinvestors hold it
$4.81B
held by funds, at market
47.8%
of shares held by funds
11
bond issues held by funds

Largest fund holders · BXP, Inc.’s weight in each

First Eagle Global Fund
SGENX · First Eagle Funds
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.02%of fund net assets
Cohen & Steers Real Estate Securities Fund
CSEIX · COHEN & STEERS REAL ESTATE SECURITIES FUND INC
2.55%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

BXP, Inc.’s bonds, as funds hold them

Funds report holding 11 issues of BXP, Inc.’s debt, $3.19B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.19%, maturing 2026 to 2035.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do BXP, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of BXP, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
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