Highest-materiality recent filing
BXP Q1 EPS $0.64 beats midpoint by $0.31; occupancy up 70bp; asset sales $1.2B
Revenue $872.1M (+0.8% YoY); net income $101.6M ($0.64 EPS) versus $61.2M ($0.39) prior year.
BXP files new $1B ATM equity program, replaces $600M program expiring May 2026
Filed universal shelf registration to replace existing one expiring May 17, 2026.
Revenue increased 2.2% to $877.1M in Q4 2025 vs $858.6M in Q4 2024.
CEO Owen Thomas new employment agreement extends term to Dec 31, 2029 (from Dec 2026).
BXP reports Q3 2025 net loss of $122M on $871.5M revenue; FFO $1.74 beats midpoint
Revenue $871.5M (+1.4% YoY); net loss $(121.7)M ($0.77 EPS) vs profit $83.6M last year due to $1.22/share impairment charges.
BXP issues $1.0B 2% exchangeable notes due 2030; proceeds to repay 2026 notes
Issued $1.0B aggregate principal of 2.00% Exchangeable Senior Notes due October 1, 2030, including $150M option exercise.
Revenue $868.5M (+2.1% YoY); net income $89.0M, EPS $0.56 vs $0.51 YoY; both beat guidance.
BXP stockholders elect all 11 director nominees; say-on-pay passes
All 11 director nominees elected; Matthew Lustig had highest opposition with ~23.1M votes against.
BXP Q1 2025: Revenue $865M (+3.1%), EPS $0.39, FFO $1.64, leasing up 25% YoY
Revenue $865.2M (+3.1% YoY); net income $61.2M ($0.39 diluted EPS) vs $79.9M ($0.51) in Q1 2024.
BXP modifies $700M credit facility, removes 10 bps SOFR adjustment, lowering borrowing cost
Outstanding borrowings of $700.0 million principal as of April 22, 2025.
BXP amends credit facility to $2.95B, adds $700M term loan, extends revolver to 2030
Revolving facility increased from $2.0B to $2.25B; maturity extended from June 2026 to March 2030.
BXP posts Q4 net loss of $230M on $341M impairment; FFO stable at $1.79
Q4 revenue $858.6M (+3.6% YoY); net loss $(230.0)M ($(1.45)/share) vs net income $119.9M ($0.76) in Q4 2023.
BXP Q3: net income $83.6M ($0.53 EPS) vs loss $111.8M; revenue +4.2% to $859.2M
Net income $83.6M ($0.53 EPS) vs $(111.8)M ($(0.71)) YoY; FFO $286.9M ($1.81) vs $292.8M ($1.86).
BXP issues $850M of 5.750% Senior Notes due 2035 to refinance debt
Issued $850M aggregate principal of 5.750% Senior Notes due 2035.
BXP Q2 2024 revenue up 4.1% to $850.5M; EPS $0.51 beats guidance; raises FY2024 outlook
Net income $79.6M ($0.51 EPS) vs $104.3M ($0.66) YoY; FFO $1.77 vs $1.86 per share. Revenue $850.5M (+4.1% YoY).
BXP amends by-laws to modify stockholder nomination and disclosure rules
Removes requirement for stockholder nominees to deliver an irrevocable resignation letter.
Boston Properties, Inc. to rename to BXP, Inc. effective July 1, 2024
Filed Certificate of Amendment to change name from Boston Properties, Inc. to BXP, Inc., effective at 12:00 a.m. EDT on July 1, 2024.
Stockholders elected 11 directors; Joel Klein (24.5M against) and Matthew Lustig (29.8M against) had largest opposition.
BXP Q1 EPS $0.51 misses guidance midpoint by $0.16; cuts FY2024 guidance
Revenue $839.4M (+4.5% YoY); EPS $0.51 vs $0.50 YoY, but $0.16 below midpoint due to $0.08 impairment on Shady Grove and $0.06 higher depreciation.
BXP Q4 revenue $828.9M, EPS $0.76, FFO $1.82; guides 2024 EPS $2.26-2.46, FFO $7.00-7.20
Q4 2023 revenue $828.9M (+5% YoY); net income $119.9M ($0.76 EPS) vs $121.8M ($0.78) a year ago.
BXP Q3 revenue up 4.3% to $824M but net loss of $112M driven by $272.6M impairment on joint ventures
Revenue $824.3M (+4.3% YoY); net loss attributable $111.8M ($0.71 diluted EPS) vs net income of $361M ($2.29) in Q3 2022.
BXP increases revolving credit capacity by $315M to $1.815B via accordion exercise
Borrowing capacity under credit agreement raised from $1.5B to $1.815B effective September 28, 2023.
BXP Q2 2023: EPS $0.66 beats guidance, FFO $1.86, revenue up 5.6% to $817M
Net income $104.3M ($0.66 diluted EPS) vs $223.0M ($1.42) in Q2 2022; drop driven by $96.2M lower gains on sales.
Boston Properties amends credit agreement to replace LIBOR with SOFR, adds 0.10% spread adjustment
Amendment dated June 1, 2023 to Ninth Amended and Restated Credit Agreement.
Boston Properties shareholders elect all 11 directors, approve say-on-pay, and ratify PwC as auditor
All 11 director nominees elected; Owen D. Thomas received 112.6M for, 18.3M against, 8.2M abstain.
Boston Properties files new $600M ATM equity program, replaces expiring shelf
New $600M 'at the market' equity offering program replaces prior $600M program expiring May 22, 2023.
Boston Properties LP issues $750M of 6.500% Senior Notes due 2034
Net proceeds ~$741.3M; allocated to eligible green projects or debt repayment.
BXP Q1 2023 FFO $1.73/share, revenue up 6.5%; commences two life sciences projects in Cambridge
Q1 revenue $803.2M (+6.5% YoY); net income $77.9M ($0.50 EPS) vs $143.0M ($0.91 EPS) in Q1 2022.
BXP Senior EVP Ray Ritchey transitions to part-time role through Dec 2023
Ritchey will devote ~50% of business time to BXP through Dec 31, 2023; no automatic renewal.
Q4 net income $121.8M ($0.78 diluted EPS) vs $184.5M ($1.18) YoY; revenue up 8% to $789.8M.
Borrowed $1.2 billion unsecured term loan under Credit Agreement dated Jan 4, 2023.
Boston Properties LP issues $750M of 6.750% Senior Notes due 2027
Issued $750M aggregate principal of 6.750% Senior Notes due 2027.
BXP Q3 EPS $2.29 beats mid-point by $1.54; FFO $1.91; 2023 guidance lower
Revenue $790.5M (+8.3% YoY); net income $361M ($2.29 EPS); FFO $299.8M ($1.91).
Q2 EPS $1.42, FFO $1.94 vs mid-point guidance $0.80 and $1.85 respectively; revenue $773.9M (+8% YoY).
All 11 director nominees, including Joel I. Klein and Owen D. Thomas, elected with majority support.
Boston Properties Q1 EPS $0.91 beats guidance; FFO $1.82; acquires Seattle tower for ~$730M
Q1 revenue $754.3M (+6% YoY); net income $143M ($0.91 EPS) vs $91.6M ($0.59) prior year.
Boston Properties beats Q4 EPS guidance; revenue up 10% to $731M; FY2022 FFO guidance $7.30-$7.45
Q4 EPS $1.18, FFO $1.55; exceeded midpoint of guidance by $0.05; revenue $731M (+10% YoY); net income $184.5M vs $7.3M YoY.
Boston Properties appoints Mary E. Kipp to board after Karen Dykstra resignation
Karen Dykstra resigned as director effective Dec. 20, 2021, due to other business interests; no disagreement with company.
Boston Properties Q3 EPS $0.69 (+19% YoY), FFO $1.73; guides FY22 FFO $7.25-7.45
Revenue $730.1M (+5.3% YoY); Net income $108.3M vs $89.9M in Q3 2020.
Boston Properties issues $850M 2.45% senior notes due 2033; calls $1B 3.85% notes due 2023
Issued $850M aggregate principal of 2.450% Senior Notes due 2033; net proceeds ~$842.5M.
Net income $111.7M ($0.71 EPS) vs $266.5M ($1.71) YoY; FFO $1.72/share beat mid-point guidance by $0.12.
On February 28, 2023 , Boston Properties, Inc. (the “Company”) entered into a Second Amended and Restated Employment Agreement with Raymond A. Ritchey (the “Agreement”) pursuant to which Mr. Ritchey will continue to serve as Senior Executive Vice President through December 31, 2023.
On December 20, 2021, the Board appointed Mary E. Kipp as a director of the Company to fill the vacancy created by the resignation of Ms. Dykstra.
On December 16, 2021, Karen E. Dykstra resigned as a director of Boston Properties, Inc. (the “Company”), the sole general partner of Boston Properties Limited Partnership (the “Operating Partnership”), effective as of 5:00 p.m. on December 20, 2021, to devote more time to her other business interests.
Max materiality 0.95 · Median 0.65 · Most common event earnings