BXP, Inc.

AI-generated fair value estimate for this company.

Method: Gordon growth AFFO/dividend-discount model: $5.30 estimated normalized AFFO per share (~75% of FY2026 FFO guidance midpoint of $7.02, net of recurring capex and leasing costs); 10% cost of equity reflecting elevated risk premium for gateway-market office real estate; 1.5% perpetual AFFO growth; value = AFFO x (1+g) / (r-g).

Reasoning: BXP is a mature gateway-market office/mixed-use REIT; FFO/AFFO already approximates distributable cash flow, so a dividend-discount approach on AFFO is more appropriate than an operating-company DCF, with an elevated discount rate reflecting structural office-demand headwinds from hybrid work.