BXP

AI Research

Q4 leasing hits 1.8M sq ft; targets 89% occupancy by end 2026; Morgan Stanley cuts to $60

BXP completed over 1.8M square feet of leasing in Q4 2025 with a 10.1-year weighted average lease term, increasing occupancy by 70bps to 86.7%, targeting 89% occupied by end of 2026. Morgan Stanley lowered its price target to $60 from $65 on March 3, 2026, while Duff & Phelps trimmed its stake by 13.8% in Q3. The company reported strong progress on its multi-year business plan, with 10 Buy and 11 Hold analyst ratings reflecting a mixed but constructive outlook for premier office REIT recovery.