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

Brandywine Realty Trust (NYSE:BDN)’s share price gapped down before the market opened 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) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $117.96 million during the quarter, compared to the consensus estimate of $120.00 million. During the same period in the prior year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year.

Brandywine Realty Trust Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com upgraded 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 target price on shares of Brandywine Realty Trust from $5.50 to $6.00 and gave the company an “in-line” rating in a research report on Monday, September 16th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Brandywine Realty Trust by 57.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,922 shares of the real estate investment trust’s stock valued at $125,000 after acquiring an additional 8,408 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Brandywine Realty Trust in the 3rd quarter worth approximately $2,546,000. Presima Securities ULC boosted its holdings in Brandywine Realty Trust by 1.1% in the 3rd quarter. Presima Securities ULC now owns 245,167 shares of the real estate investment trust’s stock valued at $1,334,000 after purchasing an additional 2,700 shares during the period. Swedbank AB grew its position in shares of Brandywine Realty Trust by 26.9% during the 3rd quarter. Swedbank AB now owns 128,131 shares of the real estate investment trust’s stock valued at $697,000 after purchasing an additional 27,194 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. purchased a new position in shares of Brandywine Realty Trust during the 3rd quarter valued at $113,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Brandywine Realty Trust Trading Up 0.3 %

The company has a debt-to-equity ratio of 1.73, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $936.29 million, a P/E ratio of -4.45 and a beta of 1.33. The firm’s fifty day moving average price is $5.46 and its two-hundred day moving average price is $4.91.

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.