BXP's Strong Q3 Performance and Growth Potential Justify Buy Rating3Q25 results were anticlimactic, but highlighted by an FFOps beat and '25 guidance raise above the Street. Positively, BXP had an active leasing quarter and made progress on improving SS occupancy this quarter, by 20bps q/q to 87.0%. At its investor day, BXP targeted SS occupancy of 89.0% by year-end 2026 vs. 86.8% at 2Q25, and estimates every 100bps of occupancy growth adds $0.18/share in NOI.