Brandywine Realty Trust (NYSE:BDN) Posts Quarterly Earnings Results, Misses Expectations By $0.34 EPS

Brandywine Realty Trust (NYSE:BDN) released its earnings results on Wednesday. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.34), Yahoo Finance reports. Brandywine Realty Trust had a negative net margin of 40.61% and a negative return on equity of 14.19%. The company had revenue of $126.50 million during the quarter, compared to the consensus estimate of $122.83 million. During the same quarter in the previous year, the business posted $0.29 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. Brandywine Realty Trust updated its FY24 guidance to $0.90-$0.97 EPS and its FY 2024 guidance to 0.900-0.970 EPS.

Brandywine Realty Trust Trading Up 3.3 %

BDN traded up $0.14 during trading on Friday, reaching $4.38. 1,645,031 shares of the company’s stock were exchanged, compared to its average volume of 2,309,937. The company’s fifty day moving average price is $4.36 and its 200-day moving average price is $4.51. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.15 and a current ratio of 2.15. Brandywine Realty Trust has a fifty-two week low of $3.42 and a fifty-two week high of $5.67. The firm has a market capitalization of $754.54 million, a PE ratio of -3.57 and a beta of 1.27.

Brandywine Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Thursday, April 4th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 13.70%. The ex-dividend date was Wednesday, April 3rd. Brandywine Realty Trust’s dividend payout ratio is presently -49.18%.

Wall Street Analyst Weigh In

BDN has been the subject of a number of analyst reports. StockNews.com cut shares of Brandywine Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Truist Financial cut their target price on shares of Brandywine Realty Trust from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Brandywine Realty Trust in a research note on Tuesday, January 30th. They issued a “hold” rating and a $5.50 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Brandywine Realty Trust currently has a consensus rating of “Hold” and an average target price of $5.63.

Institutional Trading of Brandywine Realty Trust

A number of institutional investors have recently bought and sold shares of BDN. Price T Rowe Associates Inc. MD grew its holdings in shares of Brandywine Realty Trust by 2.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 131,610 shares of the real estate investment trust’s stock valued at $711,000 after buying an additional 3,386 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Brandywine Realty Trust by 56.5% in the 4th quarter. GSA Capital Partners LLP now owns 71,764 shares of the real estate investment trust’s stock valued at $388,000 after buying an additional 25,919 shares during the period. GTS Securities LLC acquired a new position in shares of Brandywine Realty Trust in the 4th quarter valued at $108,000. Employees Retirement System of Texas grew its holdings in shares of Brandywine Realty Trust by 105.0% in the 4th quarter. Employees Retirement System of Texas now owns 410,000 shares of the real estate investment trust’s stock valued at $2,214,000 after buying an additional 210,000 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Brandywine Realty Trust by 4.6% in the 4th quarter. Legal & General Group Plc now owns 1,496,148 shares of the real estate investment trust’s stock valued at $8,079,000 after buying an additional 65,703 shares during the period. Institutional investors and hedge funds own 87.27% of the company’s stock.

Brandywine Realty Trust Company Profile

Brandywine Realty Trust (NYSE: BDN) is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in the Philadelphia and Austin markets. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio comprising 160 properties and 22.6 million square feet as of September 30, 2023 which excludes assets held for sale.