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

Brandywine Realty Trust (NYSE:BDN) announced 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 38.24% and a negative return on equity of 13.15%. The firm had revenue of $126.50 million for the quarter, compared to the consensus estimate of $122.83 million. During the same period in the prior year, the business earned $0.29 EPS. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. 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 Stock Performance

BDN stock traded up $0.07 during mid-day trading on Thursday, hitting $4.34. 608,147 shares of the company were exchanged, compared to its average volume of 2,295,852. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.15 and a current ratio of 2.15. The firm’s 50 day simple moving average is $4.36 and its 200 day simple moving average is $4.52. Brandywine Realty Trust has a 1-year low of $3.42 and a 1-year high of $5.67.

Brandywine Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, April 4th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 13.82%. The ex-dividend date is Wednesday, April 3rd. Brandywine Realty Trust’s payout ratio is -52.17%.

Institutional Trading of Brandywine Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in BDN. Citigroup Inc. increased its holdings in 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 worth $4,161,000 after buying an additional 42,928 shares during the last quarter. Natixis Advisors L.P. lifted its position in Brandywine Realty Trust by 23.0% during the first 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 lifted its position 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 worth $866,000 after purchasing an additional 7,924 shares during the period. MetLife Investment Management LLC lifted its position in Brandywine Realty Trust by 55.1% during the first 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 raised its stake in Brandywine Realty Trust by 0.6% during the first quarter. Rhumbline Advisers now owns 510,543 shares of the real estate investment trust’s stock worth $7,219,000 after acquiring an additional 3,250 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. StockNews.com lowered Brandywine Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, January 30th. Deutsche Bank Aktiengesellschaft started coverage on Brandywine Realty Trust in a research note on Tuesday, January 30th. They issued a “hold” rating and a $5.50 price objective on the stock. Finally, Truist Financial dropped their price target on Brandywine Realty Trust from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Brandywine Realty Trust has a consensus rating of “Hold” and an average target price of $5.63.

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.