Q2 FY26 · Ended Jun 30, 2026 · View SEC filing
Reported profit understates the cash the buildings produce
Depreciation, a non-cash charge, absorbs 44.0% of net operating income, so earnings say little about the cash available to the business.
For investorsWhat has to go right for property income to keep climbing?
For foundersSelling the future before it is built
A write-down, smaller sale gains and higher overhead, not weaker rent, cut earnings per share to $0.43 from $0.56.
Income owed to partners in jointly owned buildings rose 29.96%, so better buildings do not flow fully into shareholder earnings.
Premier downtown buildings supply about 91% of contracted rent and stay fuller than the portfolio, which the company calls a flight to quality.
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Business Lens describes BXP from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
