Brandywine Realty Trust (NYSE:BDN) Shares Gap Down Following Weak Earnings

Brandywine Realty Trust (NYSE:BDN)’s share price gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $6.27, but opened at $5.90. Brandywine Realty Trust shares last traded at $5.72, with a volume of 1,495,059 shares changing hands.

The real estate investment trust reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($1.20). Brandywine Realty Trust had a negative net margin of 32.27% and a negative return on equity of 12.16%. The company had revenue of $117.96 million for the quarter, compared to analysts’ expectations of $120.00 million. During the same quarter in the prior year, the firm earned $0.29 EPS. Brandywine Realty Trust’s quarterly revenue was down 3.0% compared to the same quarter last year.

Brandywine Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a $0.15 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.60 annualized dividend and a yield of 11.04%. Brandywine Realty Trust’s payout ratio is -49.18%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BDN shares. StockNews.com raised shares of Brandywine Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. Evercore ISI boosted their price target on Brandywine Realty Trust from $5.50 to $6.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th.

Institutional Trading of Brandywine Realty Trust

A number of hedge funds have recently made changes to their positions in BDN. Point72 DIFC Ltd bought a new stake in shares of Brandywine Realty Trust in the 2nd quarter worth approximately $27,000. Sei Investments Co. purchased a new position in Brandywine Realty Trust in the 2nd quarter worth approximately $48,000. EverSource Wealth Advisors LLC raised its holdings in Brandywine Realty Trust by 381.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 12,308 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 9,753 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Brandywine Realty Trust in the 1st quarter worth approximately $56,000. Finally, EntryPoint Capital LLC raised its holdings in Brandywine Realty Trust by 811.8% in the 1st quarter. EntryPoint Capital LLC now owns 13,969 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 12,437 shares during the last quarter. 87.27% of the stock is owned by institutional investors.

Brandywine Realty Trust Stock Performance

The company has a market capitalization of $936.29 million, a PE ratio of -4.45 and a beta of 1.33. The business’s fifty day moving average is $5.46 and its two-hundred day moving average is $4.91. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 1.73.

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.