REITWAVE.COM Institutional Equity Tear Sheet Generator
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REITWAVE.COM | INSTITUTIONAL REAL ESTATE RESEARCH
AS OF: OCTOBER 24, 2026  |  10Y TREASURY: 4.99%  |  SIC 6798

BXP, Inc. ($BXP)

Sector: Premier Office  •  Exchange / CIK: NYSE / 0001037540  •  Properties: 150 Assets
Trading at a 8.3% discount to NAV
Safety Score: 52/100 (Elevated Risk)  |  Credit: BBB

Live Share Price

$62.10
52W Range: $49.72 - $74.94

Valuation Multiples

9.5x P/AFFO
P/FFO: 8.8x  |  FFO/sh: $7.06

Net Asset Value (NAV)

$67.69
Prem/Disc: -8.3%  |  Cap: 6.54%

Dividend Cash Flow

8.21% Yield
$5.10/yr (Quarterly)  |  Payout: 78.0%
Balance Sheet & Debt Maturity Sentry
Net Debt to EBITDAre stands at 6.8x. Portfolio leased occupancy is 89.0% with a weighted average lease term (WALT) of 6.5 years. Senior credit rating of BBB provides institutional capital markets access for debt refinancing.
Recent Dividend Payment History (Last 6 Declarations)
Ex-Dividend Date Record / Pay Date Cash Distribution Status / Corporate Action
2026-09-30 2026-10-15 $1.2750 Regular Distribution
Representative Commercial Asset Concentrations (From SEC Form 10-K Item 2)
Commercial Asset / Property Name Location Rentable Sq Ft Occupancy Implied Asset Valuation
767 Fifth Avenue (The GM Building) (60% ownership) New York, NY 1,970,335 sq ft 98.8% SEC Sched III
200 Clarendon Street Boston, MA 1,700,914 sq ft 99.9% SEC Sched III
601 Lexington Avenue (55% ownership) New York, NY 1,671,682 sq ft 99.9% SEC Sched III
399 Park Avenue New York, NY 1,567,470 sq ft 100.0% SEC Sched III
Salesforce Tower San Francisco, CA 1,420,682 sq ft 98.0% SEC Sched III
Quantitative Risk & Benchmark Performance (QuantStats • VNQ)
Empirical 252-day trading window compared to Vanguard Real Estate ETF (VNQ) benchmark
METHODOLOGY: QUANTSTATS / CAPM
Beta vs VNQ
1.18
High Beta (Aggressive Leverage)
Annualized Alpha (α)
-15.31%
Trailing VNQ
Sharpe Ratio (vs VNQ)
-0.5 vs 0.04
-0.54 Spread
Max Drawdown (1-Yr)
-30.3% vs -11.4%
-18.9% vs VNQ
BXP vs VNQ QuantStats Performance & Underwater Drawdown
Quantitative Risk & Return Metric BXP VNQ (Benchmark) Institutional Delta / Spread
Beta (β) vs VNQ
Covariance sensitivity to US REIT market
 1.18 1.00 +0.18 (High Beta (Aggressive Leverage))
Annualized Alpha (α)
Excess CAPM risk-adjusted performance
 -15.31% 0.00% (Baseline) Trailing VNQ
Sharpe Ratio (Rf = 4.5%)
Annualized excess return per unit of volatility
 -0.5 0.04 -0.54
Sortino Ratio
Downside semi-variance risk-adjusted return
 -0.48 0.03 -0.51
Annualized Volatility (σ)
Standard deviation of daily price returns × √252
 27.9% 13.9% +14.0% (Higher Volatility)
Maximum Drawdown (1-Year)
Peak-to-trough capital decline over trailing 12M
 -30.3% -11.4% -18.9% vs VNQ
1-Year Trailing Return (CAGR)
Compounded annual growth rate
 -12.5% 4.1% -16.6% Spread
R-Squared (R²) & Correlation
Statistical correlation coefficient against VNQ
 R² 0.35 Corr: 0.59 35% variance explained by VNQ
Trading Session Win Rate
Percentage of positive daily closing sessions
 49.6% 51.6% -2.0% vs Benchmark
QuantStats Analytical Synthesis: BXP displays a Beta of 1.18 relative to VNQ with 0.35 R² correlation. Annualized volatility is 27.9% (14.0% higher than VNQ at 13.9%). Trailing 12-month Alpha stands at -15.31% (Trailing VNQ) with a Sharpe ratio of -0.50 against 0.04 for VNQ, and a maximum drawdown of -30.3%.
SEC CIK: 0001037540  |  Principal Executive Officer: Owen D. Thomas  |  Total PEO Compensation: $12,100,000 (125:1)
Official SEC Accession: 0001037389-26-000020
CONFIDENTIAL INSTITUTIONAL TEAR SHEET • REITWAVE.COM (v1.0.0) • Data Sources: SEC EDGAR Form 10-K / DEF 14A, PR Newswire, Bloomberg/CBRE Comps. For institutional and accredited investor due diligence. Not a solicitation or investment recommendation.