BXP, a Delaware corporation organized in 1997, is a fully integrated, self-administered and self-managed real estate investment trust, or “REIT,” and the largest publicly-traded office REIT (based on total market capitalization) as of December 31, 2019 in the United States that develops, owns and manages primarily Class A office properties. Our properties are concentrated in five markets—Boston, Los Angeles, New York, San Francisco and Washington, DC. At December 31, 2019, we owned or had interests in 196 commercial real estate properties, aggregating approximately 52.0 million net rentable square feet of primarily Class A office properties including 11 properties under construction/redevelopment totaling approximately 5.5 million net rentable square feet. As of December 31, 2019 our properties consisted of:

Company profile
Ticker
BXP
Website
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
100 Federal JV LLC • 100 Federal TRS LLC • 1265 Main Office JV LLC • 1330 Connecticut Fitness Center TRS LLC • 206 Associates Limited Partnership • 210 Associates Limited Partnership • 211 Associates Limited Partnership • 3HBXP LLC • 30 Shattuck Road LLC • 347 Madison Avenue Venture, LLC ...
News

Ten Major REITs With Big Year-To-Date Price Losses
17 Aug 22
Expert Ratings for Boston Properties
4 Aug 22
What 12 Analyst Ratings Have To Say About Boston Properties
4 Aug 22
Benzinga's Top Ratings Upgrades, Downgrades For August 4, 2022
4 Aug 22
SMBC Nikko Downgrades Boston Properties to Neutral, Announces $93 Price Target
4 Aug 22
Press releases
BXP Announces 2nd Quarter 2022 Results; Reports Q2 EPS of $1.42 and FFO Per Share of $1.94
26 Jul 22
BXP to Release Second Quarter 2022 Financial Results on July 26, 2022
13 Jul 22
BXP Declares Regular Quarterly Dividend
14 Jun 22
Aerojet Rocketdyne Executive Chairman Warren Lichtenstein Sends Letter to Fellow Shareholders Regarding Critical Vote at June 30th Special Meeting
14 Jun 22
BXP to Host ESG Investor Update Webcast
9 Jun 22
Analyst ratings and price targets
Current price
Average target
$99.82
Low target
$80.00
High target
$112.00
SMBC Nikko
Downgraded
$93.00
UBS
Maintains
$98.00
Piper Sandler
Downgraded
$100.00
Deutsche Bank
Maintains
$104.00
Morgan Stanley
Maintains
$80.00
Mizuho
Maintains
$105.00
Wells Fargo
Maintains
$105.00
Jefferies
Maintains
$88.00
Truist Securities
Maintains
$105.00
Credit Suisse
Initiated
$108.00
Goldman Sachs
Maintains
$112.00
Investment data
Securities sold
Number of investors
Calendar
5 Aug 22
19 Aug 22
31 Dec 22
Financial summary
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Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 502.85M | 502.85M | 502.85M | 502.85M | 502.85M | 502.85M |
Cash burn (monthly) | (no burn) | 11.2M | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | n/a | 18.84M | n/a | n/a | n/a | n/a |
Cash remaining | n/a | 484.01M | n/a | n/a | n/a | n/a |
Runway (months of cash) | n/a | 43.2 | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
12 Aug 22 | Raymond A Ritchey | Common OP Units | Conversion | Dispose C | No | No | 0 | 22,472 | 0 | 88,805 |
12 Aug 22 | Raymond A Ritchey | Common OP Units | Conversion | Acquire C | No | No | 0 | 22,472 | 0 | 111,277 |
12 Aug 22 | Raymond A Ritchey | LTIP Units Common OP Units | Conversion | Dispose C | No | No | 0.25 | 22,472 | 5.62K | 170,094 |
26 May 22 | Kelly Ayotte | LTIP Units Common OP Units | Grant | Acquire A | No | No | 0.25 | 1,504 | 376 | 6,685 |
26 May 22 | Einiger Carol B. | LTIP Units Common OP Units | Grant | Acquire A | No | No | 0.25 | 1,504 | 376 | 11,758 |
26 May 22 | Mary E Kipp | LTIP Units Common OP Units | Grant | Acquire A | No | No | 0.25 | 1,504 | 376 | 1,504 |
Financial report summary
?Competition
Marriott InternationalRisks
- Our performance depends upon the economic conditions, particularly the supply and demand characteristics, of our markets—Boston, Los Angeles, New York, San Francisco, Seattle and Washington, DC.
- Our properties face significant competition.
- We face potential difficulties or delays renewing leases or re-leasing space.
- Changes in rent control or rent stabilization and eviction laws and regulations in our markets could have a material adverse effect on our residential portfolio’s results of operations and residential property values.
- We face potential adverse effects from major tenants’ bankruptcies or insolvencies.
- Our actual costs to develop properties may exceed our budgeted costs.
- We face risks associated with the development of mixed-use commercial properties.
- Our use of joint ventures and participation in the Strategic Capital Program may limit our control over and flexibility with jointly owned investments and other assets we may wish to acquire.
- We face the risk that third parties will not be able to service or repay loans we make to them.
- Potential liability for environmental contamination could result in substantial costs.
- Covenants in our debt agreements could adversely affect our financial condition.
- We may be subject to adverse legislative or regulatory tax changes that could negatively impact our financial condition.
- We face possible adverse state and local tax audits and changes in state and local tax laws.
- Our involvement in legal proceedings and other claims may result in substantial monetary and other costs that have a material adverse effect on our results of operations.
- We face risks associated with security breaches through cyber attacks, cyber intrusions or otherwise, as well as other significant disruptions of our information technology (IT) networks and related systems.
Management Discussion
- This section of this Form 10-K generally discusses 2021 and 2020 items and year-to-year comparisons between 2021 and 2020. Discussions of 2019 items and year-to-year comparisons between 2020 and 2019 that are not included in this Form 10-K can be found in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2020, which was filed with the SEC on February 26, 2021.
- Net income attributable to Boston Properties, Inc. common shareholders and net income attributable to Boston Properties Limited Partnership common unitholders decreased approximately $366.0 million and $418.0 million for the year ended December 31, 2021 compared to 2020, respectively, as set forth in the following tables and for the reasons discussed below under the heading “Comparison of the year ended December 31, 2021 to the year ended December 31, 2020” within “Item 7—Management’s Discussion and Analysis of Financial Condition and Results of Operations.”
- Boston Properties, Inc.
Content analysis
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Readability |
H.S. junior Avg
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New words:
Appendix, Benchmark, cloud, CME, Coast, consecutive, curve, defense, drawn, eleven, evidence, exceeded, great, Group, intelligence, Northern, payoff, PR, proven, Proxy, reach, reaction, reallocate, recessionary, regularly, reticent, run, segregated, signaling, Sixteen, slight, slightly, stage, succeeding, timeline, trajectory, wait, winning, worsen
Financial reports
Current reports
8-K
Results of Operations and Financial Condition
26 Jul 22
8-K
Submission of Matters to a Vote of Security Holders
20 May 22
8-K
Results of Operations and Financial Condition
2 May 22
8-K
Results of Operations and Financial Condition
25 Jan 22
8-K
Departure of Directors or Certain Officers
20 Dec 21
8-K
Results of Operations and Financial Condition
26 Oct 21
8-K
Other Events
29 Sep 21
8-K
Results of Operations and Financial Condition
27 Jul 21
8-K
Entry into a Material Definitive Agreement
16 Jun 21
8-K
Departure of Directors or Certain Officers
20 May 21
Registration and prospectus
D
$99.69M in Partnership Interests, sold $99.69M, 1 investor
29 Dec 21
424B5
Prospectus supplement for primary offering
16 Sep 21
FWP
Free writing prospectus
15 Sep 21
FWP
Free writing prospectus
15 Sep 21
424B5
Prospectus supplement for primary offering
15 Sep 21
S-8 POS
Registration of securities for employees (post-effective amendment)
20 May 21
S-8
Registration of securities for employees
20 May 21
424B5
Prospectus supplement for primary offering
3 Mar 21
FWP
Free writing prospectus
2 Mar 21
FWP
Free writing prospectus
2 Mar 21
Proxies
No filings
Other
UPLOAD
Letter from SEC
15 Aug 18
CORRESP
Correspondence with SEC
13 Aug 18
UPLOAD
Letter from SEC
7 Aug 18
UPLOAD
Letter from SEC
1 Jun 17
CORRESP
Correspondence with SEC
10 May 17
UPLOAD
Letter from SEC
7 May 17
UPLOAD
Letter from SEC
17 May 15
CORRESP
Correspondence with SEC
7 May 15
UPLOAD
Letter from SEC
30 Apr 15
UPLOAD
Letter from SEC
21 Apr 13
Ownership
4
BOSTON PROPERTIES LTD PARTNERSHIP / RAYMOND A RITCHEY ownership change
16 Aug 22
3
BOSTON PROPERTIES LTD PARTNERSHIP / Eric G Kevorkian ownership change
10 Jun 22
4
BOSTON PROPERTIES LTD PARTNERSHIP / WILLIAM H WALTON III ownership change
31 May 22
4
BOSTON PROPERTIES LTD PARTNERSHIP / MATTHEW J LUSTIG ownership change
31 May 22
4
BOSTON PROPERTIES LTD PARTNERSHIP / JOEL KLEIN ownership change
31 May 22
4
BOSTON PROPERTIES LTD PARTNERSHIP / MARY E KIPP ownership change
31 May 22
4
BOSTON PROPERTIES LTD PARTNERSHIP / Carol B. Einiger ownership change
31 May 22
4
BOSTON PROPERTIES LTD PARTNERSHIP / BRUCE W DUNCAN ownership change
31 May 22
4
BOSTON PROPERTIES LTD PARTNERSHIP / Kelly Ayotte ownership change
31 May 22
4
BOSTON PROPERTIES LTD PARTNERSHIP / RAYMOND A RITCHEY ownership change
24 Feb 22
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