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General information

Country: UNITED STATES

Sector: REIT — Office

Categories: @REITs   

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, Austin and Washington, D.C. Markets. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio comprising 173 properties and 24.4 million square feet as of September 30, 2020. Our purpose is to shape, connect and inspire the world around us through our expertise, the relationships we foster, the communities in which we live and work, and the history we build together.
Website: brandywinerealty.com



Growth: Pretty weak revenue growth rate 1.6%, there is acceleration compared to average historical growth rates -3.5%. The revenue growth dynamics is unstable

Profitability: LTM EBITDA margin is positive, +55.1%. On average the margin is improving unsteadily. Gross margin is high, +63.4%. In the last quarter the company beat the estimated EPS. The company was ahead of estimated EPS in 100% of quarters (showing a gain of +$0.06 per share on average)

Cash Flow Generation: Dividend yield for the last twelve months 16.4%. Free cash flow yield 5.8% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 27.0% higher than minimum and 70.8% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, EBITDA margin, industries and geography on average are valued 4.1x by EV / Sales multiple , the company can be 28.2% overvalued

Key Financials (Download financials)

Ticker: BDN
Share price, USD:  (-11.0%)4.38
year average price 5.19  


year start price 7.50 2022-09-23

max close price 7.50 2022-09-23

min close price 3.45 2023-05-16

current price 4.38 2023-09-22
Common stocks: 171 962 162

Dividend Yield:  16.4%
FCF Yield LTM: 5.8%
EV / LTM EBITDA: 10.3x
EV / EBITDA annualized: 10.9x
Last revenue growth (y/y):  1.6%
Last growth of EBITDA (y/y):  4.8%
Historical revenue growth:  -3.5%
Historical growth of EBITDA:  8.3%
EV / Sales: 5.7x
Margin (EBITDA LTM / Revenue): 55.1%
Fundamental value created in LTM:
Market Cap ($m): 753
Net Debt ($m): 2 132
EV (Enterprise Value): 2 885
Price to Book: 0.5x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

News


2023-09-20GlobeNewsWire

Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms Third Quarter 2023 Earnings Release and Conference Call

2023-09-16The Motley Fool

Don't Fall for These High-Yield Dividend Stocks in September. Avoid Them Like The Plague.

2023-08-31Seeking Alpha

Brandywine Realty Trust: Declining Occupancy Threatens The Dividend (Downgrade)

2023-08-28Zacks Investment Research

BDN or EGP: Which Is the Better Value Stock Right Now?

2023-08-24Zacks Investment Research

Is Brandywine Realty Trust (BDN) Stock Undervalued Right Now?

2023-08-10Zacks Investment Research

BDN vs. EGP: Which Stock Is the Better Value Option?

2023-08-02Zacks Investment Research

3 Top Dividend Stocks to Sail Through a Choppy August

2023-07-31Seeking Alpha

Brandywine: A Dividend Cut Is Possible, But Long Term Upside Remains

2023-07-29Seeking Alpha

My Biggest Losers Of 2023 (Halftime Report)

2023-07-27Seeking Alpha

Sell Alert: 3 REITs Getting Risky
More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol BDN BDN BDN BDN
reportedCurrency USD USD USD USD
cik 790 816 790 816 790 816 790 816
fillingDate 2023-07-27 2023-05-01 2023-02-21 2022-10-28
acceptedDate 2023-07-27 14:09:29 2023-05-01 13:54:14 2023-02-21 15:10:22 2022-10-28 13:28:19
calendarYear 2023.000 2023.000 2022.000 2022.000
period Q2 Q1 Q4 Q3
revenue 126M 129M 129M 126M
costOfRevenue 46M 51M 49M 47M
grossProfit 80M 78M 80M 78M
grossProfitRatio 0.634 0.607 0.617 0.622
researchAndDevelopmentExpenses 0 0 0 0
generalAndAdministrativeExpenses 9M 9M 9M 8M
sellingAndMarketingExpenses 0 0 0 0
sellingGeneralAndAdministrativeExpenses 9M 9M 9M 8M
otherExpenses 18M 46M 45M 45M
operatingExpenses 56M 55M 54M 53M
costAndExpenses 102M 106M 104M 100M
interestIncome 520 000 505 000 518 000 498 000
interestExpense 25M 24M 20M 18M
depreciationAndAmortization 47M 46M 45M 39M
ebitda 64M 63M 92M 76M
ebitdaratio 0.505 0.489 0.710 0.608
operatingIncome 19M 18M 46M 37M
operatingIncomeRatio 0.151 0.137 0.360 0.295
totalOtherIncomeExpensesNet -12M -23M -17M -24M
incomeBeforeTax -13M -5M 30M 13M
incomeBeforeTaxRatio -0.101 -0.041 0.231 0.107
incomeTaxExpense 13 000 25 000 -11 000 -9000.000
netIncome -13M -5M 30M 13M
netIncomeRatio -0.101 -0.041 0.230 0.107
eps -0.074 -0.031 0.170 0.080
epsdiluted -0.074 -0.031 0.170 0.080
weightedAverageShsOut 172M 172M 172M 172M
weightedAverageShsOutDil 172M 172M 172M 172M
link Link Link Link Link
finalLink Link Link Link Link

Balance Sheet Statement

Property 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol BDN BDN BDN BDN
reportedCurrency USD USD USD USD
cik 790 816 790 816 790 816 790 816
fillingDate 2023-07-27 2023-05-01 2023-02-21 2022-10-28
acceptedDate 2023-07-27 14:09:29 2023-05-01 13:54:14 2023-02-21 15:10:22 2022-10-28 13:28:19
calendarYear 2023.000 2023.000 2022.000 2022.000
period Q2 Q1 Q4 Q3
cashAndCashEquivalents 32M 97M 18M 31M
shortTermInvestments 0 2 304M 0 0
cashAndShortTermInvestments 32M 97M 18M 31M
netReceivables 195M 196M 191M 187M
inventory 0 0 0 0
otherCurrentAssets 0 0 0 20M
totalCurrentAssets 290M 309M 208M 238M
propertyPlantEquipmentNet 19M 20M 20M 20M
goodwill 0 0 0 0
intangibleAssets 39M 44M 54M 56M
goodwillAndIntangibleAssets 39M 44M 54M 56M
longTermInvestments 631M 584M 568M 579M
taxAssets -19M 0 0 0
otherNonCurrentAssets 2 994M 3 031M 3 025M 3 081M
totalNonCurrentAssets 3 664M 3 678M 3 666M 3 736M
otherAssets 0 0 0 0
totalAssets 3 954M 3 987M 3 875M 3 974M
accountPayables 117M 114M 132M 126M
shortTermDebt 33M 0 89M 246M
taxPayables 0 0 0 0
deferredRevenue 25M 24M 25M 23M
otherCurrentLiabilities 1M 33M 33M 33M
totalCurrentLiabilities 176M 171M 279M 428M
longTermDebt 2 157M 2 157M 1 900M 1 852M
deferredRevenueNonCurrent 0 0 0 0
deferredTaxLiabilitiesNonCurrent 0 0 0 0
otherNonCurrentLiabilities 65M 66M 63M 1 517M
totalNonCurrentLiabilities 2 222M 2 223M 1 962M 1 912M
otherLiabilities 0 0 0 0
capitalLeaseObligations 23M 23M 23M 23M
totalLiabilities 2 398M 2 394M 2 241M 2 339M
preferredStock 0 0 0 0
commonStock 2M 2M 2M 2M
retainedEarnings -1 617M -1 571M -1 533M -1 530M
accumulatedOtherComprehensiveIncomeLoss 5M -1M 4M 5M
othertotalStockholdersEquity 3 159M 3 157M 3 153M 3 151M
totalStockholdersEquity 1 549M 1 586M 1 626M 1 627M
totalEquity 1 549M 1 586M 1 626M 1 627M
totalLiabilitiesAndStockholdersEquity 3 954M 3 987M 3 875M 3 966M
minorityInterest 7M 8M 8M 0
totalLiabilitiesAndTotalEquity 3 954M 3 987M 3 875M 3 966M
totalInvestments 631M 2 888M 568M 2 909M
totalDebt 2 157M 2 157M 1 988M 2 098M
netDebt 2 125M 2 060M 1 971M 2 067M
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finalLink Link Link Link Link

Cash Flow Statement

Property 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol BDN BDN BDN BDN
reportedCurrency USD USD USD USD
cik 790 816 790 816 790 816 790 816
fillingDate 2023-07-27 2023-05-01 2023-02-21 2022-10-28
acceptedDate 2023-07-27 14:09:29 2023-05-01 13:54:14 2023-02-21 15:10:22 2022-10-28 13:28:19
calendarYear 2023.000 2023.000 2022.000 2022.000
period Q2 Q1 Q4 Q3
netIncome -13M -5M 30M 13M
depreciationAndAmortization 47M 46M 45M 45M
deferredIncomeTax 13 000 25 000 -11 000 -9000.000
stockBasedCompensation 3M 3M 2M 2M
changeInWorkingCapital 8M -42M 14M 19M
accountsReceivables 2M -2M 395 000 2M
inventory 0 0 0 0
accountsPayables 0 -15M 25M 0
otherWorkingCapital 6M -25M -11M 17M
otherNonCashItems 11M 3M -30M -10M
netCashProvidedByOperatingActivities 56M 5M 61M 70M
investmentsInPropertyPlantAndEquipment -45M -32M -38M -50M
acquisitionsNet -50M -11M -4M -16M
purchasesOfInvestments 0 0 0 0
salesMaturitiesOfInvestments 0 0 0 0
otherInvestingActivites 2M -2M 107M -51M
netCashUsedForInvestingActivites -93M -45M 65M -67M
debtRepayment -21M -258M -672M -32M
commonStockIssued 0 0 0 0
commonStockRepurchased 0 0 4M 0
dividendsPaid -33M -33M -33M -33M
otherFinancingActivites 21M 425M 561M 64M
netCashUsedProvidedByFinancingActivities -33M 134M -140M -809 000
effectOfForexChangesOnCash 0 0 0 0
netChangeInCash -70M 95M -14M 2M
cashAtEndOfPeriod 43M 113M 18M 32M
cashAtBeginningOfPeriod 113M 18M 32M 30M
operatingCashFlow 56M 5M 61M 70M
capitalExpenditure -45M -32M -38M -50M
freeCashFlow 11M -27M 23M 19M
link Link Link Link Link
finalLink Link Link Link Link

Earning call transcript

2023 q2
2023-07-26 ET (fiscal 2023 q2)
2023 q1
2023-04-20 ET (fiscal 2023 q1)
2022 q4
2023-02-02 ET (fiscal 2022 q4)
2022 q2
2022-07-26 ET (fiscal 2022 q2)
2022 q1
2022-04-21 ET (fiscal 2022 q1)

Press-releases

Show financial reports only

2023-07-25 20:16 ET
Brandywine Realty Trust Announces Second Quarter Results
2023-05-25 16:12 ET
Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms Second Quarter 2023 Earnings Release and Conference Call
2023-04-19 20:30 ET
Brandywine Realty Trust Announces First Quarter Results
2023-03-01 22:32 ET
Brandywine Realty Trust to Present at the Citi 2023 Global Property CEO Conference
2023-02-16 22:06 ET
Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms First Quarter 2023 Earnings Release and Conference Call
2023-02-01 22:21 ET
Brandywine Realty Trust Announces Fourth Quarter, Full Year 2022 Results and Initiates 2023 Guidance
2023-01-18 21:04 ET
Brandywine Realty Trust Announces Tax Characteristics of Its 2022 Distributions
2022-12-21 16:55 ET
Brandywine Realty Trust to Redeem All Outstanding 3.95% Guaranteed Notes due 2023
2022-12-20 23:19 ET
Brandywine Realty Trust Announces Expiration of Tender Offer for Any and All of its Outstanding 3.95% Guaranteed Notes due 2023 With Approximately $296 Million Having Been Tendered
2022-12-14 13:00 ET
Brandywine Realty Trust Announces Tender Offer for Any and All of its Outstanding 3.95% Guaranteed Notes due 2023
2022-12-13 21:37 ET
Brandywine Realty Trust Announces Closing of $350 Million Offering of 7.550% Guaranteed Notes Due 2028 and Completion of Sales of Properties Totaling $113.6 Million
2022-12-06 23:28 ET
Brandywine Realty Trust Prices $350 Million of 7.550% Guaranteed Notes Due 2028
2022-12-06 21:19 ET
Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms Fourth Quarter 2022 Earnings Release and Conference Call
2022-10-20 21:19 ET
Brandywine Realty Trust Announces Third Quarter 2022 Results
2022-09-13 21:22 ET
Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms Third Quarter 2022 Earnings Release and Conference Call
2022-07-25 21:41 ET
Brandywine Realty Trust Announces Second Quarter Results Narrows 2022 Guidance
2022-05-24 12:14 ET
Brandywine Realty Trust Commences 2340 Dulles Corner Blvd Redevelopment
2022-05-18 20:50 ET
Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms Second Quarter 2022 Earnings Release and Conference Call
2022-04-20 20:41 ET
Brandywine Realty Trust Announces First Quarter Results
2022-03-03 16:36 ET
UPDATE – Brandywine Realty Trust to Present at the Citi 2022 Global Property CEO Conference
2022-03-01 16:30 ET
Brandywine Realty Trust to Present at the Citi 2022 Virtual Global Property CEO Conference
2022-02-23 17:35 ET
Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms First Quarter 2022 Earnings Release and Conference Call
2022-02-02 21:35 ET
Brandywine Realty Trust Announces Fourth Quarter, Full Year 2021 Results, Initiates 2022 Guidance and Announces Investment Activity
2022-01-21 13:21 ET
Brandywine Realty Trust Announces Tax Characteristics of Its 2021 Distributions
2021-12-13 16:34 ET
Construction Commences on $3 Billion 66-Acre Master-Planned Mixed-Use Community in the Heart of Austin’s Second Downtown
2021-12-07 17:00 ET
Brandywine Realty Trust Announces Common Quarterly Dividend and Confirms Fourth Quarter 2021 Earnings Release and Conference Call
2021-11-16 19:42 ET
Life Science Leaders to Lease Incubator Space at B.Labs in Cira Centre
2021-10-25 20:15 ET
Brandywine Realty Trust Announces Third Quarter 2021 Results and Narrows 2021 Guidance
2021-09-14 14:30 ET
Brandywine Realty Trust Announces Common Quarterly Dividend and Confirms Third Quarter 2021 Earnings Release and Conference Call
2021-07-26 20:15 ET
Brandywine Realty Trust Announces Second Quarter Results And Narrows 2021 Guidance
2021-05-18 15:30 ET
Brandywine Realty Trust Announces Common Quarterly Dividend and Confirms Second Quarter 2021 Earnings Release and Conference Call
2021-04-21 21:00 ET
Brandywine Realty Trust Announces First Quarter Results And Narrows 2021 Guidance
2021-03-24 19:19 ET
Brandywine Realty Trust and Pennsylvania Biotechnology Center Partner on Life Science Incubator within 14-acre $3.5 billion Schuylkill Yards Innovation Neighborhood
2021-03-02 15:15 ET
Brandywine Realty Trust to Present at the Citi 2021 Virtual Global Property CEO Conference
2021-02-24 22:45 ET
Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms First Quarter 2021 Earnings Release and Conference Call
2021-02-03 12:06 ET
Brandywine Realty Trust announces Joint Venture with a Global Institutional Investor for its planned 570,000 GSF mixed-use tower at 3025 JFK Blvd within 14-acre, $3.5 billion Schuylkill Yards Neighborhood
2021-02-02 22:21 ET
Brandywine Realty Trust Announces Fourth Quarter, Full Year 2020 Results, Initiates 2021 Guidance, and Announces Investment Activity
2021-01-19 19:15 ET
Brandywine Realty Trust Announces Tax Characteristics of Its 2020 Distributions
2020-12-08 23:15 ET
Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms Fourth Quarter 2020 Earnings Release and Conference Call
2020-10-21 20:30 ET
Brandywine Realty Trust Announces Third Quarter 2020 Results and Narrows 2020 Guidance
2020-09-15 19:41 ET
Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms Third Quarter 2020 Earnings Release and Conference Call
2020-07-22 20:53 ET
Brandywine Realty Trust Announces Second Quarter Results, Joint Venture of One and Two Commerce Square And Narrows 2020 Guidance
2020-06-08 15:30 ET
Brandywine Realty Trust to Present at the Stifel 2020 Cross Sector Insight Conference
2020-05-20 18:16 ET
Brandywine Realty Trust Announces Common Quarterly Dividend, Provides Rent Receipts Update and Confirms Second Quarter 2020 Earnings Release and Conference Call
2020-04-22 22:02 ET
Brandywine Realty Trust Announces First Quarter Results and Adjusts 2020 Guidance
2020-02-27 17:15 ET
Brandywine Realty Trust Announces Common Quarterly Dividend and Confirms First Quarter 2020 Earnings Release and Conference Call
2020-02-24 14:00 ET
Brandywine Realty Trust to Present at the Citi 2020 Global Property CEO Conference
2020-01-29 21:45 ET
Brandywine Realty Trust Announces Fourth Quarter, Full Year 2019 Results and Maintains 2020 Guidance
2020-01-17 21:15 ET
Brandywine Realty Trust Announces Tax Characteristics of Its 2019 Distributions
2019-12-11 18:30 ET
Brandywine Realty Trust Announces Common Quarterly Dividend and Confirms Fourth Quarter 2019 Earnings Release and Conference Call
2019-02-26 21:30 ET
Brandywine Realty Trust to Present at the Citi 2019 Global Property CEO Conference
2019-02-21 21:03 ET
CORRECTION – Brandywine Realty Trust Announces Common Quarterly Dividend and Confirms First Quarter 2019 Earnings Release and Conference Call
2019-02-21 20:15 ET
Brandywine Realty Trust Announces Common Quarterly Dividend and Confirms First Quarter 2019 Earnings Release and Conference Call

SEC forms

Show financial reports only

SEC form 10
2023-07-27 14:09 ET
Brandywine Realty Trust published news for 2023 q2
SEC form 10
2023-07-27 00:00 ET
Brandywine Realty Trust published news for 2023 q2
SEC form 8
2023-07-26 00:00 ET
Brandywine Realty Trust published news for 2023 q2
SEC form 6
2023-07-25 18:41 ET
Brandywine Realty Trust reported for 2023 q2
SEC form 6
2023-05-26 08:58 ET
Brandywine Realty Trust published news for 2023 q1
SEC form 10
2023-05-01 00:00 ET
Brandywine Realty Trust published news for 2023 q1
SEC form 8
2023-04-20 00:00 ET
Brandywine Realty Trust published news for 2023 q1
SEC form 10
2023-02-21 00:00 ET
Brandywine Realty Trust reported for 2022 q4
SEC form 8
2023-02-02 00:00 ET
Brandywine Realty Trust reported for 2022 q4
SEC form 10
2022-10-28 00:00 ET
Brandywine Realty Trust reported for 2022 q3
SEC form 8
2022-10-21 00:00 ET
Brandywine Realty Trust reported for 2022 q3
SEC form 10
2022-07-29 00:00 ET
Brandywine Realty Trust reported for 2022 q2
SEC form 8
2022-07-26 00:00 ET
Brandywine Realty Trust reported for 2022 q2
SEC form 10
2022-04-27 00:00 ET
Brandywine Realty Trust reported for 2022 q1
SEC form 8
2022-04-21 00:00 ET
Brandywine Realty Trust reported for 2022 q1
SEC form 10
2022-02-24 00:00 ET
Brandywine Realty Trust published news for 2021 q4
SEC form 8
2022-02-03 00:00 ET
Brandywine Realty Trust published news for 2021 q4
SEC form 10
2021-10-29 00:00 ET
Brandywine Realty Trust published news for 2021 q3
SEC form 8
2021-10-26 00:00 ET
Brandywine Realty Trust published news for 2021 q3
SEC form 10
2021-07-29 00:00 ET
Brandywine Realty Trust published news for 2021 q2
SEC form 8
2021-07-27 00:00 ET
Brandywine Realty Trust published news for 2021 q2
SEC form 10
2021-05-06 00:00 ET
Brandywine Realty Trust published news for 2021 q1
SEC form 8
2021-04-22 00:00 ET
Brandywine Realty Trust published news for 2021 q1