Brandywine Realty Trust (NYSE:BDN) Releases FY24 Earnings Guidance

Brandywine Realty Trust (NYSE:BDN) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.90-$0.97 for the period, compared to the consensus EPS estimate of $0.93. Brandywine Realty Trust also updated its FY 2024 guidance to 0.900-0.970 EPS.

Brandywine Realty Trust Price Performance

NYSE:BDN opened at $4.38 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.15 and a current ratio of 2.21. The stock’s 50-day moving average is $4.36 and its 200-day moving average is $4.51. Brandywine Realty Trust has a 1-year low of $3.42 and a 1-year high of $5.67.

Brandywine Realty Trust (NYSE:BDN) last released its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.34). The firm had revenue of $126.50 million for the quarter, compared to the consensus estimate of $122.83 million. Brandywine Realty Trust had a negative return on equity of 14.62% and a negative net margin of 40.61%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. Sell-side analysts expect that Brandywine Realty Trust will post 0.93 earnings per share for the current year.

Brandywine Realty Trust Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Truist Financial decreased their price target on Brandywine Realty Trust from $7.00 to $6.00 and set a buy rating for the company in a report on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Brandywine Realty Trust in a report on Tuesday, January 30th. They set a hold rating and a $5.50 price target for the company. Finally, StockNews.com downgraded Brandywine Realty Trust from a hold rating to a sell rating in a report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $5.63.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BDN. Citigroup Inc. grew its stake in Brandywine Realty Trust by 17.1% in the 1st quarter. Citigroup Inc. now owns 294,304 shares of the real estate investment trust’s stock valued at $4,161,000 after purchasing an additional 42,928 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of Brandywine Realty Trust by 23.0% in the first quarter. Natixis Advisors L.P. now owns 42,369 shares of the real estate investment trust’s stock worth $599,000 after buying an additional 7,935 shares in the last quarter. Bank of Montreal Can boosted its stake in Brandywine Realty Trust by 15.1% during the first quarter. Bank of Montreal Can now owns 60,243 shares of the real estate investment trust’s stock valued at $866,000 after buying an additional 7,924 shares during the period. MetLife Investment Management LLC increased 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 acquiring an additional 32,106 shares during the last quarter. Finally, Rhumbline Advisers grew 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 buying an additional 3,250 shares in the last quarter. 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.