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

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

Brandywine Realty Trust Stock Performance

NYSE:BDN opened at $4.25 on Friday. The company has a market cap of $731.29 million, a price-to-earnings ratio of -3.48 and a beta of 1.27. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 1.62. Brandywine Realty Trust has a 52 week low of $3.42 and a 52 week high of $5.67. The company has a fifty day simple moving average of $4.36 and a two-hundred day simple moving average of $4.51.

Brandywine Realty Trust (NYSE:BDN) last released its earnings results on Thursday, April 18th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.34). Brandywine Realty Trust had a negative return on equity of 14.19% and a negative net margin of 40.61%. The firm had revenue of $126.50 million for the quarter, compared to analysts’ expectations of $122.83 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, equities analysts anticipate that Brandywine Realty Trust will post 0.93 earnings per share for the current fiscal year.

Brandywine Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Thursday, April 4th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $0.60 annualized dividend and a dividend yield of 14.13%. Brandywine Realty Trust’s dividend payout ratio is currently -49.18%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BDN. Truist Financial cut their price objective on shares of Brandywine Realty Trust from $7.00 to $6.00 and set a buy rating on the stock 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 objective on the stock. Finally, StockNews.com lowered shares of Brandywine Realty Trust from a hold rating to a sell rating in a research report on Tuesday, January 30th. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $5.63.

Hedge Funds Weigh In On Brandywine Realty Trust

Hedge funds have recently bought and sold shares of the company. State of Wyoming raised its position in Brandywine Realty Trust by 49.2% during the second quarter. State of Wyoming now owns 7,031 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,320 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Brandywine Realty Trust by 86.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,092 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 3,279 shares in the last quarter. Point72 Middle East FZE purchased a new stake in shares of Brandywine Realty Trust during the fourth quarter worth about $51,000. Sei Investments Co. acquired a new position in shares of Brandywine Realty Trust in the first quarter valued at approximately $49,000. Finally, Pathstone Family Office LLC purchased a new position in shares of Brandywine Realty Trust during the fourth quarter valued at approximately $64,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Brandywine Realty Trust Company Profile

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.