Brandywine Realty Trust (NYSE:BDN) Shares Gap Up on Better-Than-Expected Earnings

Brandywine Realty Trust (NYSE:BDN)’s share price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $2.70, but opened at $2.87. Brandywine Realty Trust shares last traded at $2.8850, with a volume of 590,850 shares.

The real estate investment trust reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.31. Brandywine Realty Trust had a negative return on equity of 18.52% and a negative net margin of 28.62%. The business had revenue of $118.66 million during the quarter, compared to the consensus estimate of $111.49 million.

Brandywine Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 8th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 11.1%. The ex-dividend date is Thursday, October 8th. Brandywine Realty Trust’s payout ratio is presently -39.02%.

Analyst Ratings Changes

A number of analysts recently weighed in on BDN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Brandywine Realty Trust in a research report on Tuesday, October 13th. Wall Street Zen raised shares of Brandywine Realty Trust from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Three equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $3.50.

Insider Activity

In other news, CEO Gerard Sweeney acquired 33,900 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was acquired at an average price of $2.96 per share, for a total transaction of $100,344.00. Following the transaction, the chief executive officer directly owned 4,207,691 shares in the company, valued at approximately $12,454,765.36. This represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 4.50% of the stock is owned by company insiders.

Institutional Trading of Brandywine Realty Trust

Several hedge funds have recently added to or reduced their stakes in BDN. Essential Partners LLC lifted its holdings in Brandywine Realty Trust by 497.2% during the first quarter. Essential Partners LLC now owns 10,301 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 8,576 shares in the last quarter. Waverly Advisors LLC acquired a new position in Brandywine Realty Trust in the second quarter valued at about $34,000. HB Wealth Management LLC acquired a new position in Brandywine Realty Trust in the first quarter valued at about $33,000. Integrated Wealth Concepts LLC bought a new stake in shares of Brandywine Realty Trust in the second quarter worth about $44,000. Finally, Krilogy Financial LLC bought a new stake in shares of Brandywine Realty Trust in the first quarter worth about $41,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Brandywine Realty Trust Stock Up 6.9%

The company has a market capitalization of $503.66 million, a P/E ratio of -3.52 and a beta of 1.32. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 3.76. The firm has a fifty day simple moving average of $2.91 and a 200-day simple moving average of $3.00.

About Brandywine Realty Trust

Brandywine Realty Trust is a self-administered and self-managed real estate investment trust that owns, develops, leases and manages office, mixed-use and other commercial properties. The company focuses on well-located properties in urban, town-center and suburban settings, offering workspace, retail, residential and hospitality components within selected developments.

Brandywine’s principal concentration is the Philadelphia region, including Philadelphia and surrounding communities in Pennsylvania and New Jersey.