Brandywine Realty Trust (BDN) Stake Reduced by Highbridge Capital Management LLC
Highbridge Capital Management LLC reduced its position in Brandywine Realty Trust (NYSE:BDN) by 36.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,721 shares of the real estate investment trust’s stock after selling 114,493 shares during the period. Highbridge Capital Management LLC owned about 0.11% of Brandywine Realty Trust worth $3,209,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Cadence Capital Management LLC purchased a new position in shares of Brandywine Realty Trust during the fourth quarter worth approximately $231,000. Comerica Bank raised its position in shares of Brandywine Realty Trust by 20.3% in the fourth quarter. Comerica Bank now owns 125,047 shares of the real estate investment trust’s stock worth $1,998,000 after buying an additional 21,081 shares in the last quarter. Cipher Capital LP purchased a new position in shares of Brandywine Realty Trust during the fourth quarter worth approximately $564,000. Private Advisor Group LLC purchased a new position in shares of Brandywine Realty Trust during the fourth quarter worth approximately $213,000. Finally, FMR LLC raised its position in shares of Brandywine Realty Trust by 4.0% in the fourth quarter. FMR LLC now owns 18,419,116 shares of the real estate investment trust’s stock worth $304,099,000 after buying an additional 712,217 shares in the last quarter. Hedge funds and other institutional investors own 99.84% of the company’s stock.
Shares of Brandywine Realty Trust (BDN) traded up 0.63% during midday trading on Thursday, hitting $17.48. 736,576 shares of the stock were exchanged. The stock’s 50 day moving average is $17.28 and its 200 day moving average is $16.56. Brandywine Realty Trust has a 12-month low of $14.04 and a 12-month high of $17.78. The firm has a market cap of $3.05 billion, a P/E ratio of 380.00 and a beta of 1.09.
Brandywine Realty Trust (NYSE:BDN) last posted its quarterly earnings results on Wednesday, April 19th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $130.92 million for the quarter, compared to analyst estimates of $132.96 million. Brandywine Realty Trust had a net margin of 2.96% and a return on equity of 0.81%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the business posted ($0.07) EPS. On average, equities research analysts forecast that Brandywine Realty Trust will post $0.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Friday, July 7th will be given a $0.16 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $0.64 annualized dividend and a yield of 3.68%. Brandywine Realty Trust’s dividend payout ratio is 1,600.00%.
BDN has been the topic of a number of recent analyst reports. Stifel Nicolaus upgraded shares of Brandywine Realty Trust from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $17.00 to $19.00 in a report on Thursday, April 20th. Stephens upgraded shares of Brandywine Realty Trust to an “underweight” rating in a report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $16.75.
In other Brandywine Realty Trust news, EVP H Jeffrey Devuono sold 9,027 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $17.01, for a total value of $153,549.27. Following the sale, the executive vice president now directly owns 147,560 shares in the company, valued at approximately $2,509,995.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.76% of the company’s stock.
About Brandywine Realty Trust
Brandywine Realty Trust is a self-administered and self-managed real estate investment trust (REIT). The Company operates through five segments: Pennsylvania Suburbs, Philadelphia Central Business District (CBD), Metropolitan Washington, DC, Austin, Texas, and Other. The Pennsylvania Suburbs segment includes properties in Chester, Delaware and Montgomery counties in the Philadelphia suburbs.
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