Earnings Preview: What to Expect From BXP, Inc.'s Report

Boston, Massachusetts-based BXP, Inc. (BXP) is the largest publicly traded developer, owner, and manager of premier workplaces. Valued at $8.7 billion by market cap, the company operates as a real estate investment trust (REIT), including properties owned by joint ventures totaling 53.5 million square feet and 186 properties. The REIT is expected to announce its fiscal first-quarter earnings for 2026 after the market closes on Tuesday, Apr. 28.

Ahead of the event, analysts expect BXP to report an FFO of $1.58 per share on a diluted basis, down 3.7% from $1.64 per share in the year-ago quarter. The company surpassed the consensus estimates in two of the last four quarters while missing the forecast on two other occasions. 

For the full year, analysts expect BXP to report FFO of $6.98 per share, down 99.3% from fiscal 2025. However, its FFO is expected to rise 3.2% year over year to $7.20 per share in fiscal 2027. 

BXP stock has underperformed the S&P 500 Index’s ($SPX) 28.9% gains over the past 52 weeks, with shares down 12.4% during this period. Similarly, it underperformed the State Street Real Estate Select Sector SPDR ETF’s (XLRE) 9.2% gains over the same time frame.

On Jan. 27, BXP shares closed up marginally after reporting its Q4 results. Its FFO of $1.76 per share missed Wall Street expectations of $1.80 per share. The company’s revenue was $877.1 million, up 2.2% year over year. BXP expects full-year FFO to be $6.88 to $7.04 per share.

Analysts’ consensus opinion on BXP stock is moderately bullish, with a “Moderate Buy” rating overall. Out of 23 analysts covering the stock, 10 advise a “Strong Buy” rating, and 13 give a “Hold.” BXP’s average analyst price target is $69.80, indicating a potential upside of 26.8% from the current levels.