Market Summary
USD65.56+0.01
Market Closed0.02%
BXP Stock Price
BXP RSI Chart
BXP Valuation
BXP Price/Sales (Trailing)
BXP Profitability
BXP Fundamentals
BXP Revenue
BXP Earnings
Price Action
52 Week Range
46.1879.65
(Low)(High)
Last 7 days
2.8%
Last 30 days
4.4%
Last 90 days
25.4%
Trailing 12 Months
-16.5%
BXP Financial Health
BXP Investor Care
Historical Charts for Stock Metrics
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Net sales
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Latest Insider Trading transactions for BXP
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-09-11 | Kevorkian Eric G | acquired | - | - | 1,000 | svp, clo and secretary |
2023-09-11 | Kevorkian Eric G | sold | -66,430 | 66.43 | -1,000 | svp, clo and secretary |
2023-09-07 | Spann Hilary J. | sold (taxes) | -163,861 | 65.94 | -2,485 | executive vice president |
2023-09-05 | RITCHEY RAYMOND A | sold | -4,362,080 | 67.109 | -65,000 | senior evp |
2023-09-01 | RITCHEY RAYMOND A | acquired | - | - | 65,000 | senior evp |
2023-06-07 | Otteni Peter V | sold | -571,269 | 54.599 | -10,463 | executive vice president |
2023-06-02 | Otteni Peter V | acquired | - | - | 10,463 | executive vice president |
2023-05-31 | West Tony | acquired | - | - | 3,390 | - |
2023-05-31 | Hoskins Diane J | acquired | - | - | 3,390 | - |
2023-05-26 | Einiger Carol B. | bought | 474,100 | 47.41 | 10,000 | - |
Which funds bought or sold BXP recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-12 | Farther Finance Advisors, LLC | reduced | -30.21 | -5,210 | 15,031 | -% |
2023-08-24 | Alberta Investment Management Corp | added | 66.67 | 251,180 | 575,900 | 0.01% |
2023-08-23 | Stonebridge Capital Advisors LLC | new | - | 11,518 | 11,518 | -% |
2023-08-23 | WOLVERINE TRADING, LLC | added | 53.18 | 339,605 | 868,605 | -% |
2023-08-22 | VIRGINIA RETIREMENT SYSTEMS ET AL | reduced | -21.41 | -277,277 | 1,416,140 | 0.01% |
2023-08-22 | US Asset Management LLC | sold off | -100 | -111,000 | - | -% |
2023-08-21 | BOKF, NA | reduced | -80.17 | -4,953 | 1,325 | -% |
2023-08-21 | CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | added | 0.04 | 875,596 | 14,436,700 | 0.02% |
2023-08-21 | VitalStone Financial, LLC | sold off | -100 | -7,000 | - | -% |
2023-08-21 | OSAIC HOLDINGS, INC. | reduced | -11.07 | -173,730 | 3,123,980 | 0.01% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
Schedule 13G FIlings of Boston Properties
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 14, 2023 | norges bank | 8.10% | 12,695,570 | SC 13G/A | |
| Feb 14, 2023 | tci fund management ltd | 0% | 0 | SC 13G/A | |
| Feb 09, 2023 | vanguard group inc | 15.05% | 23,591,706 | SC 13G/A | |
| Feb 06, 2023 | state street corp | 7.10% | 11,123,759 | SC 13G/A | |
| Jan 26, 2023 | blackrock inc. | 11.6% | 18,146,691 | SC 13G/A | |
| Jan 20, 2023 | blackrock inc. | 11.6% | 18,146,691 | SC 13G | |
| Feb 14, 2022 | tci fund management ltd | 7.96% | 12,458,851 | SC 13G/A | |
| Feb 10, 2022 | state street corp | 6.68% | 10,427,686 | SC 13G/A | |
| Feb 09, 2022 | vanguard group inc | 14.71% | 22,978,972 | SC 13G/A | |
| Jan 27, 2022 | blackrock inc. | 11.1% | 17,343,626 | SC 13G/A |
Recent SEC filings of Boston Properties
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Sep 12, 2023 | 4 | Insider Trading | |
| Sep 11, 2023 | 144 | Notice of Insider Sale Intent | |
| Sep 11, 2023 | 3 | Insider Trading | |
| Sep 11, 2023 | 4 | Insider Trading | |
| Sep 06, 2023 | 4 | Insider Trading | |
| Sep 05, 2023 | 144 | Notice of Insider Sale Intent | |
| Sep 05, 2023 | 4 | Insider Trading | |
| Aug 07, 2023 | 10-Q | Quarterly Report | |
| Aug 01, 2023 | 8-K | Current Report | |
| Jul 05, 2023 | 4 | Insider Trading |
BXP Fair Value
Loading...
Peers (Alternatives to Boston Properties)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
PSA | 48.1B | 4.4B | -0.64% | -17.74% | 11.24 | 10.95 | 14.80% | 87.79% |
DLR | 38.3B | 5.1B | 5.88% | 19.36% | 89.57 | 7.47 | 13.73% | -68.04% |
EQR | 23.7B | 2.0B | -0.94% | -9.83% | 28.39 | 11.73 | -22.97% | -33.54% |
ARE | 20.0B | 2.7B | -1.78% | -21.80% | 26.64 | 7.46 | 15.16% | 88.51% |
KIM | 11.4B | 1.8B | -1.65% | -8.89% | 28.27 | 6.5 | 6.75% | -42.80% |
| MID-CAP | ||||||||
FRT | 8.0B | 1.1B | 1.83% | 2.50% | 20.52 | 7.18 | 8.31% | 38.10% |
KRG | 4.9B | 820.5M | 3.48% | 19.66% | 174.46 | 5.97 | 29.95% | 125.56% |
VNO | 4.8B | 1.8B | 19.66% | -1.21% | -12.91 | 2.63 | 5.60% | -286.96% |
MAC | 2.6B | 866.2M | 4.87% | 36.72% | -29.3 | 2.95 | 0.51% | -335.26% |
| SMALL-CAP | ||||||||
SLG | 2.7B | 882.0M | 26.74% | -0.07% | -6.14 | 3.08 | 11.76% | -239.94% |
SKT | 2.4B | 426.3M | -1.04% | 52.78% | 25.4 | 5.64 | 1.38% | 137.97% |
PGRE | 1.1B | 732.3M | 9.89% | -25.11% | -13.31 | 1.55 | -0.03% | -4012.90% |
AIV | 1.0B | 339.3M | -9.41% | -15.44% | -5.79 | 3.02 | 88.48% | -168.70% |
Boston Properties News
Returns for BXP
Cumulative Returns on BXP
-1.8%
10-Year Cumulative Returns
-7.3%
7-Year Cumulative Returns
-9.6%
5-Year Cumulative Returns
-5.5%
3-Year Cumulative Returns
Risks for BXP
What is the probability of a big loss on BXP?
53.1%
Probability that Boston Properties stock will be more than 20% underwater in next one year
46.9%
Probability that Boston Properties stock will be more than 30% underwater in next one year.
38.9%
Probability that Boston Properties stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does BXP drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Boston Properties was unfortunately bought at previous high price.
Drawdowns
Financials for Boston Properties
Income Statement (Last 12 Months)(In Millions)
| Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Revenue | 1.4% | 3,201 | 3,157 | 3,109 | 3,050 | 2,989 | 2,929 | 2,889 | 2,823 | 2,786 | 2,727 | 2,766 | 2,858 | 2,908 | 2,987 | 2,961 | 2,908 | 2,851 | 2,782 | 2,717 | 2,667 | 2,639 |
| Costs and Expenses | 2.3% | 2,168 | 2,119 | 2,050 | 1,999 | 1,961 | 1,936 | 1,921 | 1,902 | 1,880 | 1,864 | 1,860 | 1,883 | 1,899 | 1,921 | 1,915 | 1,889 | 1,863 | 1,814 | 1,792 | 1,761 | 1,737 |
| S&GA Expenses | 6.0% | 168 | 159 | 146 | 144 | 146 | 150 | 152 | 149 | 142 | 142 | 133 | 135 | 138 | 135 | 141 | 136 | 134 | 128 | 122 | 123 | 120 |
| Interest Expenses | 8.2% | 508 | 470 | 437 | 421 | 414 | 417 | 423 | 432 | 437 | 438 | 432 | 423 | 418 | 413 | 413 | 410 | 399 | 389 | 378 | 370 | 366 |
| Net Income | -15.3% | 655 | 774 | 839 | 912 | 659 | 548 | 505 | 331 | 315 | 473 | 873 | 1,003 | 1,020 | 918 | 519 | 527 | 535 | 497 | 572 | 528 | 526 |
| Net Income Margin | -100.0% | - | 0.25* | 0.27* | 0.30* | 0.23* | 0.19* | 0.17* | 0.12* | 0.11* | 0.17* | 0.32* | 0.35* | 0.35* | 0.31* | 0.17* | - | - | - | - | - | - |
| Free Cashflow | -100.0% | - | 1,297 | 1,282 | 1,259 | 1,189 | 1,201 | 1,133 | 1,161 | 1,163 | 1,134 | 1,157 | 1,144 | 1,170 | 1,149 | 1,181 | - | - | - | - | - | - |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | 2.9% | 25,342 | 24,625 | 24,208 | 23,727 | 23,266 | 22,476 | 22,365 | 22,849 | 22,059 | 22,214 | 22,858 | 22,959 | 23,001 | 21,830 | 21,285 | 21,289 | 21,268 | 20,502 | 20,256 | 20,137 | 19,961 |
| Cash Equivalents | 72.1% | 1,582 | 919 | 690 | 376 | 456 | 436 | 453 | 1,003 | 557 | 697 | 1,669 | 1,715 | 1,691 | 661 | 645 | 751 | 1,087 | 360 | 543 | 323 | 473 |
| Liabilities | 4.5% | 17,049 | 16,313 | 15,837 | 15,327 | 15,116 | 14,423 | 14,322 | 14,785 | 13,960 | 14,085 | 14,512 | 14,459 | 14,448 | 13,403 | 13,262 | 13,286 | 13,248 | 12,331 | 12,043 | 11,932 | 11,748 |
| Shareholder's Equity | -27.3% | 6,040 | 8,306 | 6,133 | 6,156 | 8,143 | 8,042 | 8,033 | 8,055 | 8,090 | 8,121 | 8,340 | 8,495 | 8,547 | 8,421 | 8,014 | 7,996 | 8,021 | 8,170 | 8,214 | 8,206 | 8,213 |
| Retained Earnings | -10.6% | -516 | -467 | -391 | -359 | -567 | -636 | -625 | -657 | -612 | -570 | -509 | -364 | -302 | -416 | -760 | -749 | -710 | -728 | -675 | -677 | -649 |
| Additional Paid-In Capital | 0.2% | 6,561 | 6,549 | 6,539 | 6,532 | 6,525 | 6,510 | 6,498 | 6,416 | 6,406 | 6,393 | 6,357 | 6,348 | 6,341 | 6,321 | 6,295 | 6,275 | 6,279 | 6,415 | 6,408 | 6,400 | 6,391 |
| Shares Outstanding | 0.0% | 157 | 157 | 157 | 157 | 157 | 157 | 157 | 156 | 156 | 156 | 156 | 156 | 155 | 155 | 155 | 155 | 155 | 155 | 154 | 154 | 154 |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | -1.4% | 1,279 | 1,297 | 1,282 | 1,259 | 1,189 | 1,201 | 1,133 | 1,161 | 1,163 | 1,134 | 1,157 | 1,144 | 1,170 | 1,149 | 1,181 | 1,199 | 1,155 | 1,132 | 1,150 | 1,098 | 1,108 |
| Share Based Compensation | 0.5% | 57.00 | 57.00 | 52.00 | 52.00 | 53.00 | 52.00 | 51.00 | 51.00 | 51.00 | 47.00 | 44.00 | 44.00 | 43.00 | 43.00 | 41.00 | 42.00 | 42.00 | 40.00 | 40.00 | 40.00 | 39.00 |
| Cashflow From Investing | 32.2% | -1,177 | -1,737 | -1,602 | -1,354 | -1,456 | -949 | -1,039 | -1,223 | -1,056 | -782 | -613 | -667 | -807 | -865 | -1,015 | -815 | -941 | -1,138 | -1,098 | -1,308 | -820 |
| Cashflow From Financing | 11.1% | 1,024 | 922 | 556 | -537 | 133 | -718 | -1,311 | -620 | -1,460 | -260 | 484 | 483 | 467 | 143 | -113 | -3.15 | 222 | -15.93 | 82.00 | 58.00 | -100 |
| Dividend Payments | 0.1% | 686 | 686 | 685 | 684 | 683 | 683 | 684 | 686 | 688 | 689 | 689 | 683 | 678 | 672 | 666 | 666 | 640 | 614 | 588 | 553 | 544 |
BXP Income Statement
2023-06-30Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |||||||||
| Revenue | ||||||||||||
| Lease | $ 761,733 | $ 721,899 | $ 1,518,608 | $ 1,440,019 | ||||||||
| Total revenue | 817,153 | 773,927 | 1,620,353 | 1,528,234 | ||||||||
| Expenses | ||||||||||||
| Rental | 291,036 | 273,848 | 582,344 | 544,103 | ||||||||
| General and administrative | 44,175 | 34,665 | 99,977 | 77,859 | ||||||||
| Transaction costs | 308 | 496 | 1,219 | 496 | ||||||||
| Depreciation and amortization | 202,577 | 183,146 | 411,311 | 360,770 | ||||||||
| Total expenses | 550,866 | 501,838 | 1,119,527 | 1,001,816 | ||||||||
| Other income (expense) | ||||||||||||
| income (loss() from unconsolidated joint ventures | (6,668) | (54) | (14,237) | 2,135 | ||||||||
| Gains on sales of real estate | 0 | 96,247 | 0 | 118,948 | ||||||||
| Interest and other income (loss) | 17,343 | 1,195 | 28,284 | 2,423 | ||||||||
| Other Income - assignment fee | 0 | 6,624 | 0 | 6,624 | ||||||||
| Gain (Loss) on Investments | 1,571 | (4,716) | 3,236 | (6,978) | ||||||||
| Unrealized gain on non-real estate investment | 124 | 0 | 383 | 0 | ||||||||
| Interest expense | (142,473) | (104,142) | (276,680) | (205,370) | ||||||||
| Net income | 136,184 | 267,243 | 241,812 | 444,200 | ||||||||
| Net income attributable to noncontrolling interests | ||||||||||||
| Noncontrolling interests in property partnerships | (19,768) | (18,546) | (38,428) | (36,095) | ||||||||
| Noncontrolling interest - common units of the Operating Partnership | (12,117) | (25,708) | (21,169) | (42,061) | ||||||||
| Net income attributable to the Company | 104,299 | 222,989 | 182,215 | 366,044 | ||||||||
| Net income attributable to the Company | $ 104,299 | $ 222,989 | $ 182,215 | $ 366,044 | ||||||||
| Basic earnings per common share / unit attributable to the Company | ||||||||||||
| Earnings Per Share After Allocation of Undistributed Earnings to Participating Securities Basic (dollars per share) | $ 0.67 | $ 1.42 | $ 1.16 | $ 2.33 | ||||||||
| Weighted average number of common shares / units outstanding (in shares / units) | 156,826 | 156,720 | 156,815 | 156,685 | ||||||||
| Diluted earnings per common share / unit attributable to the Company | ||||||||||||
| Diluted Earnings: Net income, Per Share Amount (in dollars per share / unit) | $ 0.66 | $ 1.42 | $ 1.16 | $ 2.33 | ||||||||
| Weighted average number of common and common equivalent shares / units outstanding (in shares / units) | 157,218 | 157,192 | 157,131 | 157,098 | ||||||||
| Boston Properties Limited Partnership | ||||||||||||
| Revenue | ||||||||||||
| Lease | $ 761,733 | $ 721,899 | $ 1,518,608 | $ 1,440,019 | ||||||||
| Total revenue | 817,153 | 773,927 | 1,620,353 | 1,528,234 | ||||||||
| Expenses | ||||||||||||
| Rental | 291,036 | 273,848 | 582,344 | 544,103 | ||||||||
| General and administrative | 44,175 | 34,665 | 99,977 | 77,859 | ||||||||
| Transaction costs | 308 | 496 | 1,219 | 496 | ||||||||
| Depreciation and amortization | 200,895 | 181,416 | 407,767 | 357,302 | ||||||||
| Total expenses | 549,184 | 500,108 | 1,115,983 | 998,348 | ||||||||
| Other income (expense) | ||||||||||||
| income (loss() from unconsolidated joint ventures | (6,668) | (54) | (14,237) | 2,135 | ||||||||
| Gains on sales of real estate | 0 | 99,608 | 0 | 122,992 | ||||||||
| Interest and other income (loss) | 17,343 | 1,195 | 28,284 | 2,423 | ||||||||
| Other Income - assignment fee | 0 | 6,624 | 0 | 6,624 | ||||||||
| Gain (Loss) on Investments | 1,571 | (4,716) | 3,236 | (6,978) | ||||||||
| Unrealized gain on non-real estate investment | 124 | 0 | 383 | 0 | ||||||||
| Interest expense | (142,473) | (104,142) | (276,680) | (205,370) | ||||||||
| Net income | 137,866 | 272,334 | 245,356 | 451,712 | ||||||||
| Net income attributable to noncontrolling interests | ||||||||||||
| Noncontrolling interests in property partnerships | (19,768) | (18,546) | (38,428) | (36,095) | ||||||||
| Net income attributable to the Company | 118,098 | 253,788 | 206,928 | 415,617 | ||||||||
| Net income attributable to the Company | $ 118,098 | $ 253,788 | $ 206,928 | $ 415,617 | ||||||||
| Basic earnings per common share / unit attributable to the Company | ||||||||||||
| Earnings Per Share After Allocation of Undistributed Earnings to Participating Securities Basic (dollars per share) | $ 0.68 | $ 1.45 | $ 1.18 | $ 2.38 | ||||||||
| Weighted average number of common shares / units outstanding (in shares / units) | 174,748 | 174,392 | 174,693 | 174,323 | ||||||||
| Diluted earnings per common share / unit attributable to the Company | ||||||||||||
| Diluted Earnings: Net income, Per Share Amount (in dollars per share / unit) | $ 0.67 | $ 1.45 | $ 1.18 | $ 2.38 | ||||||||
| Weighted average number of common and common equivalent shares / units outstanding (in shares / units) | 175,140 | 174,864 | 175,009 | 174,736 | ||||||||
| Parking and Other [Member] | ||||||||||||
| Revenue | ||||||||||||
| Other revenue | $ 26,984 | $ 30,346 | $ 50,993 | $ 52,080 | ||||||||
| Parking and Other [Member] | Boston Properties Limited Partnership | ||||||||||||
| Revenue | ||||||||||||
| Other revenue | 26,984 | 30,346 | 50,993 | 52,080 | ||||||||
| Hotel [Member] | ||||||||||||
| Revenue | ||||||||||||
| Other revenue | 13,969 | [1] | 12,089 | [1] | 22,070 | [2] | 16,646 | [2] | ||||
| Expenses | ||||||||||||
| Operating expense | 8,161 | 6,444 | 14,832 | 11,284 | ||||||||
| Hotel [Member] | Boston Properties Limited Partnership | ||||||||||||
| Revenue | ||||||||||||
| Other revenue | 13,969 | 12,089 | 22,070 | 16,646 | ||||||||
| Expenses | ||||||||||||
| Operating expense | 8,161 | 6,444 | 14,832 | 11,284 | ||||||||
| Real Estate, Other [Member] | ||||||||||||
| Revenue | ||||||||||||
| Other revenue | 4,609 | 3,239 | 9,844 | 7,304 | ||||||||
| Expenses | ||||||||||||
| Operating expense | 4,609 | 3,239 | 9,844 | 7,304 | ||||||||
| Real Estate, Other [Member] | Boston Properties Limited Partnership | ||||||||||||
| Revenue | ||||||||||||
| Other revenue | 4,609 | 3,239 | 9,844 | 7,304 | ||||||||
| Expenses | ||||||||||||
| Operating expense | 4,609 | 3,239 | 9,844 | 7,304 | ||||||||
| Management Service [Member] | ||||||||||||
| Revenue | ||||||||||||
| Other revenue | 9,858 | 6,354 | 18,838 | 12,185 | ||||||||
| Management Service [Member] | Boston Properties Limited Partnership | ||||||||||||
| Revenue | ||||||||||||
| Other revenue | $ 9,858 | $ 6,354 | $ 18,838 | $ 12,185 | ||||||||
| ||||||||||||
BXP Balance Sheet
2023-06-30Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
|---|---|---|
| ASSETS | ||
| Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,870,107 and $6,789,029 at June 30, 2023 and December 31, 2022, respectively) | $ 25,762,722 | $ 25,389,663 |
| Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at June 30, 2023 and December 31, 2022, respectively) | 237,526 | 237,510 |
| Right of use assets - operating leases | 166,421 | 167,351 |
| Less: accumulated depreciation (amounts related to VIEs of $(1,434,592) and $(1,381,401) at June 30, 2023 and December 31, 2022, respectively) | (6,568,568) | (6,298,082) |
| Total real estate | 19,598,101 | 19,496,442 |
| Cash and cash equivalents (amounts related to VIEs of $256,201 and $259,658 at June 30, 2023 and December 31, 2022, respectively) | 1,581,575 | 690,333 |
| Cash held in escrows | 46,915 | 46,479 |
| Investments in securities | 33,481 | 32,277 |
| Tenant and other receivables, net (amounts related to VIEs of $13,921 and $16,521 at June 30, 2023 and December 31, 2022, respectively) | 91,968 | 81,389 |
| Related party note receivable, net | 88,834 | 78,576 |
| Sales-type lease receivable, net | 13,250 | 12,811 |
| Accrued rental income, net (amounts related to VIEs of $382,622 and $367,138 at June 30, 2023 and December 31, 2022, respectively) | 1,318,320 | 1,276,580 |
| Deferred charges, net (amounts related to VIEs of $172,655 and $176,597 at June 30, 2023 and December 31, 2022, respectively) | 710,820 | 733,282 |
| Prepaid expenses and other assets (amounts related to VIEs of $13,534 and $11,647 at June 30, 2023 and December 31, 2022, respectively) | 77,457 | 43,589 |
| Investments in unconsolidated joint ventures | 1,780,959 | 1,715,911 |
| Total assets | 25,341,680 | 24,207,669 |
| Liabilities: | ||
| Mortgage notes payable, net (amounts related to VIEs of $3,274,764 and $3,272,368 at June 30, 2023 and December 31, 2022, respectively) | 3,274,764 | 3,272,368 |
| Unsecured senior notes, net | 10,985,395 | 10,237,968 |
| Unsecured line of credit | 0 | 0 |
| Unsecured term loan | 1,196,046 | 730,000 |
| Lease liabilities - finance leases (amounts related to VIEs of $20,675 and $20,604 at June 30, 2023 and December 31, 2022, respectively) | 251,874 | 249,335 |
| Lease liabilities - operating leases | 204,826 | 204,686 |
| Accounts payable and accrued expenses (amounts related to VIEs of $57,852 and $29,466 at June 30, 2023 and December 31, 2022, respectively) | 434,574 | 417,545 |
| Dividends and distributions payable | 171,465 | 170,643 |
| Accrued interest payable | 111,088 | 103,774 |
| Other liabilities (amounts related to VIEs of $101,301 and $114,232 at June 30, 2023 and December 31, 2022, respectively) | 418,813 | 450,918 |
| Total liabilities | 17,048,845 | 15,837,237 |
| Redeemable deferred stock units— 108,642 and 97,853 units outstanding at redemption value at June 30, 2023 and December 31, 2022, respectively | $ 6,292 | $ 6,613 |
| Excess stock, shares outstanding | 0 | 0 |
| Excess stock, shares issued | 0 | 0 |
| Preferred stock / units, shares / units issued (in shares / units) | 0 | 0 |
| Preferred stock / units, shares / units outstanding (in shares / units) | 0 | 0 |
| Equity / Capital: | ||
| Excess stock, $0.01 par value, 150,000,000 shares authorized, none issued or outstanding | $ 0 | $ 0 |
| Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued or outstanding | 0 | 0 |
| Common stock, $0.01 par value, 250,000,000 shares authorized, 156,932,300 and 156,836,767 issued and 156,853,400 and 156,757,867 outstanding at June 30, 2023 and December 31, 2022, respectively | 1,569 | 1,568 |
| Additional paid-in capital | 6,561,161 | 6,539,147 |
| Dividends in excess of earnings | (516,550) | (391,356) |
| Treasury common stock at cost, 78,900 shares at June 30, 2023 and December 31, 2022 | (2,722) | (2,722) |
| Accumulated other comprehensive loss | (3,406) | (13,718) |
| Total stockholders' equity attributable to Boston Properties, Inc. | 6,040,052 | 6,132,919 |
| Noncontrolling interests: | ||
| Common units of the Operating Partnership | 689,123 | 683,583 |
| Property partnerships | 1,557,368 | 1,547,317 |
| Total equity / capital | 8,286,543 | 8,363,819 |
| Total liabilities and equity / capital | 25,341,680 | 24,207,669 |
| Boston Properties Limited Partnership | ||
| ASSETS | ||
| Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,870,107 and $6,789,029 at June 30, 2023 and December 31, 2022, respectively) | 25,396,457 | 25,022,149 |
| Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at June 30, 2023 and December 31, 2022, respectively) | 237,526 | 237,510 |
| Right of use assets - operating leases | 166,421 | 167,351 |
| Less: accumulated depreciation (amounts related to VIEs of $(1,434,592) and $(1,381,401) at June 30, 2023 and December 31, 2022, respectively) | (6,448,665) | (6,180,474) |
| Total real estate | 19,351,739 | 19,246,536 |
| Cash and cash equivalents (amounts related to VIEs of $256,201 and $259,658 at June 30, 2023 and December 31, 2022, respectively) | 1,581,575 | 690,333 |
| Cash held in escrows | 46,915 | 46,479 |
| Investments in securities | 33,481 | 32,277 |
| Tenant and other receivables, net (amounts related to VIEs of $13,921 and $16,521 at June 30, 2023 and December 31, 2022, respectively) | 91,968 | 81,389 |
| Related party note receivable, net | 88,834 | 78,576 |
| Sales-type lease receivable, net | 13,250 | 12,811 |
| Accrued rental income, net (amounts related to VIEs of $382,622 and $367,138 at June 30, 2023 and December 31, 2022, respectively) | 1,318,320 | 1,276,580 |
| Deferred charges, net (amounts related to VIEs of $172,655 and $176,597 at June 30, 2023 and December 31, 2022, respectively) | 710,820 | 733,282 |
| Prepaid expenses and other assets (amounts related to VIEs of $13,534 and $11,647 at June 30, 2023 and December 31, 2022, respectively) | 77,457 | 43,589 |
| Investments in unconsolidated joint ventures | 1,780,959 | 1,715,911 |
| Total assets | 25,095,318 | 23,957,763 |
| Liabilities: | ||
| Mortgage notes payable, net (amounts related to VIEs of $3,274,764 and $3,272,368 at June 30, 2023 and December 31, 2022, respectively) | 3,274,764 | 3,272,368 |
| Unsecured senior notes, net | 10,985,395 | 10,237,968 |
| Unsecured line of credit | 0 | 0 |
| Unsecured term loan | 1,196,046 | 730,000 |
| Lease liabilities - finance leases (amounts related to VIEs of $20,675 and $20,604 at June 30, 2023 and December 31, 2022, respectively) | 251,874 | 249,335 |
| Lease liabilities - operating leases | 204,826 | 204,686 |
| Accounts payable and accrued expenses (amounts related to VIEs of $57,852 and $29,466 at June 30, 2023 and December 31, 2022, respectively) | 434,574 | 417,545 |
| Dividends and distributions payable | 171,465 | 170,643 |
| Accrued interest payable | 111,088 | 103,774 |
| Other liabilities (amounts related to VIEs of $101,301 and $114,232 at June 30, 2023 and December 31, 2022, respectively) | 418,813 | 450,918 |
| Total liabilities | 17,048,845 | 15,837,237 |
| Redeemable deferred stock units— 108,642 and 97,853 units outstanding at redemption value at June 30, 2023 and December 31, 2022, respectively | 6,292 | 6,613 |
| Noncontrolling interest: | ||
| Redeemable partnership units— 16,522,540 and 16,531,172 common units and 2,135,852 and 1,679,175 long term incentive units outstanding at redemption value at June 30, 2023 and December 31, 2022, respectively | 1,135,053 | 1,280,886 |
| Equity / Capital: | ||
| Boston Properties Limited Partnership partners’ capital— 1,755,118 and 1,749,682 general partner units and 155,098,282 and 155,008,185 limited partner units outstanding at June 30, 2023 and December 31, 2022, respectively | 5,351,166 | 5,299,428 |
| Accumulated other comprehensive loss | (3,406) | (13,718) |
| Total partners’ capital | 5,347,760 | 5,285,710 |
| Noncontrolling interests in property partnerships | 1,557,368 | 1,547,317 |
| Noncontrolling interests: | ||
| Total equity / capital | 6,905,128 | 6,833,027 |
| Total liabilities and equity / capital | $ 25,095,318 | $ 23,957,763 |
Boston Properties (NYSE:BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space. The Company's portfolio totals 51.2 million square feet and 196 properties, including six properties under construction/redevelopment.