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

Brandywine Realty Trust (NYSE:BDN) posted its quarterly earnings data on Wednesday. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.34), Yahoo Finance reports. The firm had revenue of $126.50 million during the quarter, compared to analysts’ expectations of $122.83 million. Brandywine Realty Trust had a negative net margin of 38.24% and a negative return on equity of 13.15%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share. 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 Price Performance

NYSE BDN traded up $0.07 during trading hours on Thursday, reaching $4.34. The company’s stock had a trading volume of 608,147 shares, compared to its average volume of 2,295,852. The business has a 50-day simple moving average of $4.36 and a 200 day simple moving average of $4.52. 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 52 week low of $3.42 and a 52 week high of $5.67.

Brandywine Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Thursday, April 4th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 13.82%. Brandywine Realty Trust’s dividend payout ratio is currently -52.17%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BDN. Deutsche Bank Aktiengesellschaft began coverage on Brandywine Realty Trust in a research note on Tuesday, January 30th. They set a “hold” rating and a $5.50 target price for the company. Truist Financial lowered their target price on 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, StockNews.com downgraded Brandywine Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.63.

Institutional Investors Weigh In On Brandywine Realty Trust

A number of hedge funds have recently made changes to their positions in the business. Citigroup Inc. increased its stake in shares of Brandywine Realty Trust by 17.1% during the first quarter. Citigroup Inc. now owns 294,304 shares of the real estate investment trust’s stock valued at $4,161,000 after acquiring an additional 42,928 shares during the period. Natixis Advisors L.P. boosted its stake in Brandywine Realty Trust by 23.0% in the 1st quarter. Natixis Advisors L.P. now owns 42,369 shares of the real estate investment trust’s stock worth $599,000 after purchasing an additional 7,935 shares during the period. Bank of Montreal Can boosted its stake in Brandywine Realty Trust by 15.1% in the 1st quarter. Bank of Montreal Can now owns 60,243 shares of the real estate investment trust’s stock worth $866,000 after purchasing an additional 7,924 shares during the period. MetLife Investment Management LLC boosted its stake in Brandywine Realty Trust by 55.1% in the 1st quarter. MetLife Investment Management LLC now owns 90,395 shares of the real estate investment trust’s stock worth $1,278,000 after purchasing an additional 32,106 shares during the period. Finally, Rhumbline Advisers boosted its stake in Brandywine Realty Trust by 0.6% in the 1st quarter. Rhumbline Advisers now owns 510,543 shares of the real estate investment trust’s stock worth $7,219,000 after purchasing an additional 3,250 shares during the period. Institutional investors own 87.27% of the company’s stock.

About Brandywine Realty Trust

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.