Brandywine Realty Trust

Brandywine Realty Trust

BDN
Brandywine Realty TrustUS flagNew York Stock Exchange
2.97
USD
-0.01
- -
513.07MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
3.67
3.59
3.38
3
2.97
3.08
3.3
3.11
2.85
2.95
2.99
2.93
2.79
2.12
Basic EPS, GAAP
0.23
- -
-0.21
0.19
0.67
0.76
0.19
1.78
0.07
0.31
-1.14
-1.14
-1.03
-0.64
Free Cash Flow per Basic Share
1.2
1.14
1.11
0.99
1.04
1.29
1.33
1.31
1.12
1.22
1.03
1.05
0.67
0.5
Dividend per Share
0.64
0.64
0.64
0.67
0.67
0.73
0.76
0.76
0.76
0.76
0.72
0.61
0.54
0.31
Book Value per Share
12.12
11.94
11.07
10.66
10.26
10.17
9.51
10.52
9.88
9.48
7.65
6.02
4.56
- -
Tangible Book Value per Share
11.28
11.39
10.43
10.24
9.9
9.2
8.8
10
9.55
9.16
7.45
5.78
3.98
- -
Basic Weighted Avg Shares
153
166
178
175
175
177
176
172
171
171
172
173
173
174
Sales/Revenue/Turnover
562
597
603
525
520
544
580
535
487
506
515
506
484
369
Operating Margin (%)
20.6
21.05
19.27
18.98
20.28
22.49
19.37
20.72
18.54
19.5
19.63
19.24
16.68
16.24
Depreciation Expense
199
209
219
190
180
176
210
188
178
178
189
178
176
138
Net Income, GAAP
43
7
-30
40
120
135
34
306
12
54
-197
-196
-178
-111
Effective Tax Rate (%)
- -
- -
- -
- -
- -
0.31
0.03
- -
0.38
0.1
- -
- -
- -
- -
Profit Margin (%)
7.61
1.17
-5.04
7.65
23.09
24.71
5.9
57.12
2.52
10.64
-38.24
-38.75
-36.79
-30.1
Working Capital
233
244
643
233
208
-64
106
47
-23
18
92
102
87
- -
LT Debt
2,595
2,427
2,385
2,013
1,931
1,936
2,167
1,853
1,854
1,988
2,162
2,236
2,581
- -
Total Equity
1,921
2,159
1,952
1,883
1,847
1,811
1,688
1,805
1,701
1,633
1,324
1,045
798
- -
Return on Invested Capital (%)
2.64
2.76
- -
2.42
- -
3.21
2.92
- -
2.49
2.71
- -
- -
- -
- -
Return on Capital (%)
3.88
3.02
- -
3.11
- -
5.62
3.07
- -
2.14
3.44
- -
- -
- -
- -
Return on Common Equity (%)
1.96
- -
-1.83
1.75
6.39
7.42
1.97
17.6
0.71
3.25
-13.37
-16.63
-19.47
-25.28

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
2,557
2,622
- -
LT Finance Leases
24
24
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
174
174
174
Market Capitalization
507
471
551

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
267
289
- -
Cash, Cash Equivalents & STI
32
36
- -
Accounts Receivable, Net
22
23
- -
Inventories
- -
- -
- -
Total Current Liabilities
181
177
- -
Payables & Accruals
158
156
- -
ST Debt
- -
- -
- -
Deferred Revenue
23
21
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-8.07%
-14.68%
-23.62%
Free Cash Flow
-3.74%
-10.9%
-35.57%
Net Income, GAAP
46.28%
-46.61%
-9.01%
Sales/Revenue/Turnover
-1.97%
-1.85%
-4.17%
Total Cash Common Dividend
-1.13%
-6.43%
-10.97%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
126
125
132
122
506
2025
122
121
121
121
484
2026
127
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.1
0.18
-0.96
-0.26
-1.14
2025
-0.16
-0.51
-0.15
-0.21
-1.03
2026
-0.28
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.15
0.15
0.15
0.15
0.61
2025
0.15
0.15
0.15
0.08
0.54
2026
0.08
- -
- -
- -
- -

Company Description

CEO
Gerard H. Sweeney
Full Time Employees
273
Sector
Real Estate
Industry
REIT - Office
Address
2929 Walnut Street Philadelphia PA United States of America 19104-5054
IPO Date
Jul 24, 1986
Business
Brandywine Realty Trust (NYSE: BDN) operates as a self-administered, self-managed real estate investment trust (REIT) focused on the acquisition, development, redevelopment, ownership, management, and operation of office, life science/laboratory, residential, and mixed-use properties in key U.S. markets; its core portfolio comprises approximately 122 properties totaling 19.0 million square feet, with primary emphasis on urban, town center, and transit-oriented developments in Philadelphia, Pennsylvania (including the Central Business District and suburbs), Austin, Texas, and other areas such as Washington, D.C., Northern Virginia, Southern Maryland, Camden County, New Jersey, and New Castle County, Delaware. The company offers Class-A and trophy office/life science space leasing to corporations, life science firms, professional service providers, and government agencies, featuring prime locations, modern amenities, sustainable certifications like LEED and Fitwel, and flexible configurations; mixed-use development and management services create integrated live-work-play ecosystems blending office, residential, retail, and community spaces; and comprehensive property management handles operations, tenant relations, maintenance, capital improvements, and sustainability initiatives for tenants and joint venture partners. Founded in 1994 through the merger of Brandywine Realty Corporation and the suburban office division of The Rubin Organization, with initial public offering on the New York Stock Exchange that year, Brandywine Realty Trust maintains headquarters at 2929 Arch Street, Suite 1800, Philadelphia, Pennsylvania 19104. Recent developments include the completion of major projects such as the life science facility at 3151 Market Street in Philadelphia during fourth-quarter 2024 and full stabilization of its development pipeline by year-end 2024; over $300 million in property dispositions in 2024, exceeding initial targets and including the sale of its 50% interest in the 4040 Wilson joint venture in Arlington, Virginia for $95.25 million net proceeds and the Dabney and Brittons Hill industrial/flex portfolio for $15.5 million net; acquisition of partner's preferred equity in the 302 JFK and 3025 JFK joint ventures in Philadelphia for $70.5 million each in 2025 to recapitalize developments, assuming related construction loans; issuance of $300 million in 6.125% guaranteed notes due 2031 in October 2025 to bolster liquidity; and strong leasing momentum with 783,000 square feet signed in fourth-quarter 2024 (including 130,000 square feet commencing in 2026) and core portfolio occupancy reaching 88.8% leased as of third-quarter 2025.

Company News

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