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Brandywine Realty Trust

Brandywine Realty Trust

BDN
$3.01USD↑+1.35%+0.04 today

MARKET CAP

525.5M

P/E (TTM)

—

FWD P/E

—

DAY RANGE

$3 – $3

52W RANGE

$2
$5

AI Summary

Stalk
StalkMedium

BDN remains in a medium-term uptrend supported by rising EMAs and recent momentum breakout, but near-term extension into the 200 DMA resistance and overbought conditions advise deferring execution until pullbacks into the rising EMA support zone.

  • ↑Portfolio 90.6% leased and 89.1% occupied with net absorption rebounding.
  • ↑Executed $208 M of asset sales toward $305 M target to reduce leverage.
  • ↓Negative earnings yield and weak profitability factors limit returns.
Full analysis →

The case for & against

Bull & Bear analysis

Bearish

Brandywine Realty Trust (NYSE: BDN) is a well-established real estate investment trust (REIT) that specializes in the ownership, development, and management of high-quality office and mixed-use properties, primarily in urban settings such as Philadelphia and Austin. The company is a significant player in the commercial real estate sector, strategically positioning itself to take advantage of the ongoing “flight to quality” trend among tenants seeking premium rental spaces.

Bull says

  • ↑Portfolio 90.6% leased and 89.1% occupied with net absorption rebounding.
  • ↑Executed $208 M of asset sales toward $305 M target to reduce leverage.
  • ↑Captured 54% of new leases in key urban markets, indicating market leadership.
  • ↑Life sciences leasing surges in CBD and University City, boosting demand.
  • ↑Dividend yield of 1.66% and book-to-price of 1.47 suggest undervaluation.
  • ↑Guiding 2026 FFO of $0.55 per share while targeting Net Debt/EBITDA of 8–8.4×.

Bear says

  • ↓Negative earnings yield and weak profitability factors limit returns.
  • ↓Net Debt/EBITDA at 8–8.4× signals high leverage risk.
  • ↓Austin occupancy stuck at 67%, cutting company leasing by ~400 bps.
  • ↓Analysts rate stock “Reduce” with adverse revisions and limited upside.
  • ↓Q2 revenue of $128.9 M and FFO of $0.13 vs dividend of $0.08.
  • ↓Rising interest rates may hike refinancing costs and squeeze cash flow.

Investment themes with BDN

Office REITs↓ -1.64%

VNO · BXP · CUZ

Earnings Call · Q2 2025 · Mgmt. Guidance

Updated 08-16-2026bullish

Transcript signals

Bull points

  • We posted solid operating metrics again this quarter, reinforcing the continued flight to quality, our portfolio's strong market positioning, and our asset quality.
  • we are increasing our business plan ranges on retention, same store growth from both the cash and GAAP standpoint, our capital ratio, and GAAP in combined mark-to-market.
  • Our capital ratio was 4.1%. well below our 25 business plan range, primarily due to continued capital control, construction efficiencies, and a number of as-is transactions.

Bear points

  • significant progress is made on liquidity and our operating property performance. Earnings, however, remain impacted by the expensing of our non-cash preferred accruals and negative carry on our JV development.
  • Based upon the length of time required to perfect full site approvals, and that being a condition to achieve optimal pricing, we do not believe all required approvals can be obtained by year end. As a result, we remove these gains from our 2025 forecast, and as such, our revised FFO range is 60 to 66 cents per share, reflecting a midpoint still above consensus estimates.
  • We do anticipate making progress on this front. with at least one and possibly two projects being recapitalized in the second half of this year.
Read full transcript analysis ›