Brandywine Realty Trust (NYSE: BDN) is one of the largest publicly traded, full-service integrated real estate companies in the United States with a primary focus on the Philadelphia, Austin and Washington, DC markets.
| Revenue (TTM) | $460.38M |
| Gross Profit (TTM) | $256.92M |
| EBITDA | $197.27M |
| Operating Margin | 5.47% |
| Return on Equity | -18.60% |
| Return on Assets | 0.62% |
| Revenue/Share (TTM) | $2.65 |
| Book Value | $3.80 |
| Price-to-Book | 0.83 |
| Price-to-Sales (TTM) | 1.20 |
| EV/Revenue | 5.28 |
| EV/EBITDA | 12.44 |
| Quarterly Earnings Growth (YoY) | 551.00% |
| Quarterly Revenue Growth (YoY) | 7.80% |
| Shares Outstanding | $170.05M |
| Float | $162.06M |
| % Insiders | 4.65% |
| % Institutions | 83.88% |
Volatility is currently contracting
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Brandywine Realty Trust NYSE: BDN said its third-quarter results met management guidance as the office landlord accelerated asset sales and debt repayments, improving liquidity and lowering its leverage outlook for year-end.
Brandywine Realty Trust ( BDN ) Q3 2026 Earnings Call October 22, 2026 9:00 AM EDT Company Participants Jerry Sweeney - President, CEO & Trustee Thomas E. Wirth - Executive VP & CFO Conference Call Participants Nicholas Joseph - Citigroup Inc., Research Division Dylan Burzinski - Green Street Advisors, LLC, Research Division Michael Lewis - Truist Securities, Inc., Research Division Manus Ebbecke Upal Rana - KeyBanc Capital Markets Inc., Research Division Presentation Operator Thank you for standing by, and welcome to the Brandywine Realty Trust Third Quarter 2026 Earnings Conference Call.
Brandywine Realty Trust reported Q3 2026 revenue and EPS above expectations, with adjusted FFO per share in line with forecasts. BDN has improved occupancy and achieved higher average rents, despite a year-over-year decline in profitability and adjusted FFO. Management executed $526.8 million in asset sales, reducing net debt from $2.49 billion to $2.10 billion and improving the net leverage ratio.
PHILADELPHIA, Oct. 21, 2026 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE:BDN) today reported its financial and operating results for the three and nine-month periods ended September 30, 2026. Management Comments “We are pleased with our 2026 business plan progress highlighted by raising the midpoint of our speculative revenue target for the second time this year to $19.5 million, or 11.4% higher than our initial business plan,” said Gerard H.
PHILADELPHIA, Oct. 14, 2026 /PRNewswire/ -- Global law firm Greenberg Traurig, LLP represented Brandywine Realty Trust (NYSE: BDN) in the disposition of a 441,000-square-foot office building in Philadelphia to Burlington Stores (NYSE: BURL). Located at 3151 Market St. in Philadelphia's University City neighborhood, the building will serve as the new corporate headquarters for Burlington.
High-yield 'mousetrap' REITs consistently underperform, with average returns lagging the VNQ by 1090–1380 bps due to dividend cuts and price declines. Dividend Safety grades of F indicate a roughly 40% chance of a cut within 12 months, making these REITs especially risky for income-focused investors. Nine REITs, including CLPR, BDN, CHCT, GOOD, NXRT, GNL, ALX, BRT, and AFCG, currently offer yields above 6.85% but have severe Dividend Safety concerns.
PHILADELPHIA, Sept. 15, 2026 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE:BDN) announced today that its Board of Trustees has declared a quarterly cash dividend of $0.08 per common share and OP Unit payable on October 22, 2026 to holders of record on October 8, 2026. The quarterly dividend is equivalent to an annual rate of $0.32 per common share.
BDN sold its problematic 3151 Market asset to Burlington Stores for $240 million, ending a multi-year strategic misstep. BDN's sale price is roughly 25% below original development budget, reflecting significant opportunity cost versus a stabilized, fully leased life science asset. The transaction delivers $168 million in net proceeds, providing critical liquidity and derisking BDN's pressured balance sheet amid ongoing operational challenges.
Brandywine Realty Trust trades at a steep 5.5x P/FFO discount, but balance sheet risks overshadow valuation. BDN's leverage remains elevated at 9.0x net debt/EBITDA, with $700 million in 2027 maturities and heavy reliance on asset sales for debt reduction. The 10.6% dividend yield appears unsustainable, with a Q2 payout ratio of 102.9% and two dividend cuts in three years.
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