WallStSmart

Boston Properties Inc (BXP)vsSBA Communications Corp (SBAC)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Boston Properties Inc generates 12% more annual revenue ($3.15B vs $2.82B). SBAC leads profitability with a 37.4% profit margin vs 8.8%. BXP appears more attractively valued with a PEG of 2.27. SBAC earns a higher WallStSmart Score of 54/100 (C-).

BXP

Hold

47

out of 100

Grade: D+

Growth: 4.0Profit: 4.0Value: 6.0Quality: 4.0
Piotroski: 3/9Altman Z: 0.51

SBAC

Buy

54

out of 100

Grade: C-

Growth: 6.0Profit: 8.0Value: 4.7Quality: 3.8
Piotroski: 4/9Altman Z: -0.14
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

BXPUndervalued (+55.1%)

Margin of Safety

+55.1%

Fair Value

$137.69

Current Price

$57.60

$80.09 discount

UndervaluedFair: $137.69Overvalued
SBACUndervalued (+12.1%)

Margin of Safety

+12.1%

Fair Value

$217.30

Current Price

$215.97

$1.33 discount

UndervaluedFair: $217.30Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

BXP1 strengths · Avg: 8.0/10
Price/BookValuation
1.8x8/10

Reasonable price relative to book value

SBAC3 strengths · Avg: 10.0/10
Profit MarginProfitability
37.4%10/10

Keeps 37 of every $100 in revenue as profit

Operating MarginProfitability
52.4%10/10

Strong operational efficiency at 52.4%

EPS GrowthGrowth
115.6%10/10

Earnings expanding 115.6% YoY

Areas to Watch

BXP4 concerns · Avg: 3.5/10
PEG RatioValuation
2.274/10

Expensive relative to growth rate

P/E RatioValuation
33.1x4/10

Premium valuation, high expectations priced in

Return on EquityProfitability
4.9%3/10

ROE of 4.9% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

SBAC4 concerns · Avg: 2.8/10
Revenue GrowthGrowth
3.7%4/10

3.7% revenue growth

Return on EquityProfitability
0.0%3/10

ROE of 0.0% — below average capital efficiency

PEG RatioValuation
4.892/10

Expensive relative to growth rate

Altman Z-ScoreHealth
-0.142/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : BXP

The strongest argument for BXP centers on Price/Book.

Bull Case : SBAC

The strongest argument for SBAC centers on Profit Margin, Operating Margin, EPS Growth. Profitability is solid with margins at 37.4% and operating margin at 52.4%.

Bear Case : BXP

The primary concerns for BXP are PEG Ratio, P/E Ratio, Return on Equity. Debt-to-equity of 3.37 is elevated, increasing financial risk.

Bear Case : SBAC

The primary concerns for SBAC are Revenue Growth, Return on Equity, PEG Ratio.

Key Dynamics to Monitor

BXP carries more volatility with a beta of 1.05 — expect wider price swings.

SBAC is growing revenue faster at 3.7% — sustainability is the question.

BXP generates stronger free cash flow (267M), providing more financial flexibility.

Monitor REIT - OFFICE industry trends, competitive dynamics, and regulatory changes.

Bottom Line

SBAC scores higher overall (54/100 vs 47/100), backed by strong 37.4% margins. BXP offers better value entry with a 55.1% margin of safety. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Boston Properties Inc

REAL ESTATE · REIT - OFFICE · USA

Boston Properties, Inc. is a publicly traded real estate investment trust that invests in office buildings in Boston, Los Angeles, New York City, San Francisco, and Washington, D.C.

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SBA Communications Corp

REAL ESTATE · REIT - SPECIALTY · USA

SBA Communications Corporation is a real estate investment trust which owns and operates wireless infrastructure in the United States, Canada, Central America, South America, and South Africa.

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