Brandywine Realty Trust | REIT Profile

Symbol: BDN
CIK: 790816
Exchange: NYSE
Founded: 1986 (35 years)
HQ: Radnor, PA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Office, Residential

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See BDN on SEC.gov

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Overall Score: 7.7

See score breakdown | See trend

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


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Hightlights of Trading Day November 30, 2021


Open Price: $13.19
Closing Price: $12.85
Price Change: -0.51 (-3.817%)
Lowest Price: $12.805
Highest Price: $13.25

52-Week Low: $10.33
52-Week High: $14.96
52-Week Change: 25.57%

5 Day Price Change: -6.31%
1 Month Price Change: 0.83%
3 Month Price Change: -4.61%
6 Month Price Change: -3.66%
YTD Price Change: 17.34%
1 Year Price Change: 21.63%
2 Year Price Change: -3.05%
5 Year Price Change: 8.17%

Dividend of Trading Day November 30, 2021


Dividend Yield: 5.914%*
Annualized Dividend: $0.76*
Dividend Yield (TTM): 5.61%
Annualized Dividend (TTM): $0.7495
Ex-Dividend Date: 2021-10-05
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)


Funds From Operations (FFO)

Key Stats of Trading Day November 30, 2021


Total Cash: $42,484,000
Current Debt: $202,690,000
Revenue: $488,110,000
Gross Profit: $488,110,000
Total Revenue: $488,110,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $244,054,000
Revenue Per Share: $3
Revenue Per Employee: $1,448,398
Employee: 2,018
Debt to Equity Ratio (D/E): 2.23
Profit Margin: 0.05%
Enterprise Value (EV): $4,224,942,900
Enterprise Value to Revenue (EV/R): 8.66
Price to Sales (P/S): 4.99
Price to Book (P/B): 1.42
Price/Earnings-to-Growth (PEG) Ratio: -1.02
P/E Ratio: 83.77
P/E High: 28.72
P/E Low: 20.98
Forward P/E Ratio: 193.74
Market Capitalization: $2,198,972,402
Beta: 0.89
Latest Volume: 3,474,227
Avg. Total Volume: 1,284,190
Avg. 10-Day Volume: 1,587,317
Avg. 30-Day Volume: 1,284,190
TTM EPS: 0.15
Shares Outstanding: 171,126,257
Float: N/A
50-Day Moving Avg.: $13.95
200-Day Moving Avg.: $13.79

Latest REIT Community Comments on #BDN


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Properties Owned by BDN


Properties Based on REIT's Official Presentation

Properties Types States Countries
185 2 7 1

Please visit REIT’s official webpage for the most up-to-date property list.

BDN Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website

Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $14.92 per share you would have been able to buy 67 shares of BDN on 2020-12-01 costing $999.64 @ $14.92 per share you would have been able to buy 33 shares of BDN on 2020-12-01 costing $492.36 @ $14.92 per share you would have been able to buy 16 shares of BDN on 2020-12-01 costing $238.72 @ $14.92 per share you would have been able to buy 6 shares of BDN on 2020-12-01 costing $89.52 @ $14.92 per share you would have been able to buy 3 shares of BDN on 2020-12-01 costing $44.76
Current worth On 2021-11-30 these 67 shares would be worth $860.95 @ $12.85 On 2021-11-30 these 33 shares would be worth $424.05 @ $12.85 On 2021-11-30 these 16 shares would be worth $205.60 @ $12.85 On 2021-11-30 these 6 shares would be worth $77.10 @ $12.85 On 2021-11-30 these 3 shares would be worth $38.55 @ $12.85
Dividends earned $50.92 in dividends would have been earned since 2020-12-01 with 67 shares. $25 in dividends would have been earned since 2020-12-01 with 33 shares. $12.16 in dividends would have been earned since 2020-12-01 with 16 shares. $4.56 in dividends would have been earned since 2020-12-01 with 6 shares. $2.28 in dividends would have been earned since 2020-12-01 with 33 shares.
Net (gain / loss)* -87.77 USD -43.23 USD -20.96 USD -7.86 USD -3.93 USD
ROI** -8.78% -8.78% -8.78% -8.78% -8.78%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by BDN. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
BDN 2021-10-05 0.190 --- 2021-09-14 2021-10-06 2021-10-20
BDN 2021-07-06 0.190 --- 2021-05-18 2021-07-07 2021-07-21
BDN 2021-04-06 0.190 --- 2021-02-24 2021-04-07 2021-04-21
BDN 2021-01-05 0.190 --- 2020-12-08 2021-01-06 2021-01-20
BDN 2020-10-06 0.190 --- 2020-09-15 2020-10-07 2020-10-21
BDN 2020-07-07 0.190 --- 2020-05-20 2020-07-08 2020-07-22
BDN 2020-04-06 0.190 --- 2020-02-27 2020-04-07 2020-04-21
BDN 2020-01-07 0.190 --- 2019-12-11 2020-01-08 2020-01-22
BDN 2019-10-02 0.190 --- 2019-09-10 2019-10-03 2019-10-17
BDN 2019-07-03 0.190 --- 2019-05-22 2019-07-05 2019-07-19
BDN 2019-04-03 0.190 --- 2019-02-21 2019-04-04 2019-04-18
BDN 2019-01-07 0.190 5.56% 2018-12-06 2019-01-08 2019-01-22
BDN 2018-10-03 0.180 --- 2018-09-11 2018-10-04 2018-10-18
BDN 2018-07-05 0.180 --- 2018-05-23 2018-07-06 2018-07-20
BDN 2018-04-03 0.180 --- 2018-02-28 2018-04-04 2018-04-18
BDN 2018-01-08 0.180 12.50% 2017-12-07 2018-01-09 2018-01-23
BDN 2017-10-03 0.160 --- 2017-09-12 2017-10-04 2017-10-18
BDN 2017-07-05 0.160 --- 2017-05-18 2017-07-07 2017-07-21
BDN 2017-04-03 0.160 --- 2017-03-01 2017-04-05 2017-04-19
BDN 2017-01-09 0.160 --- 2016-12-06 2017-01-11 2017-01-25

Financial Statements Overview


The next Earnings Report for BDN is 2022-02-02

Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2021-06-30 2021-03-31 2020-12-31 2020-09-30
Current Cash 47,730,000 45,717,000 46,344,000 62,256,000
Receivables 173,146,000 173,840,000 168,908,000 180,385,000
Inventory 0 0 0 0
Current Assets 248,638,000 303,396,000 254,437,000 242,641,000
Current Assets (Other) 27,762,000 83,839,000 39,185,000 0
Short Term Investments 27,762,000 83,839,000 39,185,000 0
Long-term Investments 3,640,920,000 3,586,517,000 3,645,669,000 3,748,419,000
Property, Plant & Equipment Net 2,868,878,000 2,895,585,000 2,905,843,000 3,076,715,000
Goodwill 0 0 0 0
Intangible Assets 39,726,000 43,883,000 48,570,000 50,715,000
Other Assets 262,860,000 185,844,000 261,603,000 215,009,000
Net Tangible Assets 1,700,595,000 1,728,004,000 1,745,573,000 1,754,453,000
Total Assets 3,889,558,000 3,889,913,000 3,900,106,000 3,991,060,000
Accounts Payable 0 0 0 0
Liabilities (Other) 45,942,000 66,869,000 66,021,000 58,037,000
Current Liabilities (Other) 181,112,000 174,387,000 176,084,000 175,023,000
Total Current Liabilities 181,112,000 174,387,000 176,084,000 175,023,000
Current Long-term Debt 0 0 0 0
Long-term Debt 1,888,591,000 1,843,593,000 1,830,595,000 1,919,511,000
Total Liabilities 2,149,237,000 2,118,026,000 2,105,963,000 2,185,892,000
Minority Interest 10,732,000 10,367,000 10,505,000 10,614,000
Common Stock 170,848,894 170,624,741 170,543,225 3,138,558,000
Retained Earnings -1,396,536,000 -1,363,807,000 -1,338,155,000 -1,324,641,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 1,740,321,000 1,771,887,000 1,794,143,000 1,805,168,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2021-06-30 2021-03-31 2020-12-31 2020-09-30
Total Revenue 120,102,000 120,769,000 126,821,000 126,106,000
Cost of Revenue 0 0 0 0
Gross Profit 120,102,000 120,769,000 126,821,000 126,106,000
Research and Development 0 0 0 0
Selling General and Admin 8,356,000 6,584,000 6,315,000 7,069,000
Operating Expense 105,808,000 100,525,000 105,051,000 105,389,000
Operating Income 14,294,000 20,244,000 21,770,000 20,717,000
Income Expense Net (Other) 0 1,993,000 0 0
EBIT 14,294,000 22,237,000 21,770,000 20,717,000
Interest Income 14,522,000 15,328,000 17,658,000 16,558,000
Pretax Income -160,000 6,983,000 19,086,000 276,135,000
Income Tax 15,000 19,000 0 2,000
Minority Interest -8,000 43,000 98,000 1,612,000
Net Income -261,000 6,775,000 18,895,000 274,428,000
Net Income Basic -261,000 6,775,000 18,895,000 274,428,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2021-06-30 2021-03-31 2020-12-31 2020-09-30
Net Income -261,000 6,775,000 18,895,000 274,428,000
Depreciation 42,785,000 40,343,000 188,283,000 145,314,000
Changes in Receivables 173,146,000 173,840,000 168,908,000 -15,562,000
Changes in Inventories 0 0 0 0
Cash Change 47,730,000 45,717,000 46,344,000 17,437,000
Cash Flow 37,950,000 41,176,000 63,342,000 162,464,000
Capital Expenditures -29,102,000 -20,222,000 -160,250,000 -136,793,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -47,154,000 -21,249,000 42,313,000 -24,023,000
Dividends Paid 0 0 0 0
Net Borrowings 1,813,099,000 1,714,037,000 1,745,066,000 1,857,255,000
Cash Flow Financing 11,236,000 -20,524,000 -121,573,000 -166,616,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

About Brandywine Realty Trust


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, Washington, D.C., and Austin markets. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio. 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. Our deep commitment to our communities was recognized by NAIOP naming Brandywine the 2014 Developer of the Year — the highest honor in the commercial real estate industry.

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
5 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.6
10 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.4
9 Dividend to FFO Payout Ratio Health: Analysis of the REIT’s Dividend to FFO Payout Ratios during the last four quarters. 8.8
8 Dividend to FFO Payout Ratio Trend: Analysis of the REIT’s Dividend to FFO Payout Ratios trend during the last two years. 7.7
Rating AFFO & Efficiency Section Avg. Rating
8 FFO Trend: Analysis of the REIT’s FFO trend during the last two years. 7.8
7 FFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.9
10 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 8.6
10 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 9.1
Rating Leverage Section Avg. Rating
10 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 7.4
10 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 8.8
9 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.9
10 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.4
6 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.0
9 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.8
Rating Asset & Revenue Section Avg. Rating
3 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 5.4
5 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 6.1
Rating Properties Section Avg. Rating
7 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.1
7 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 6.3
8 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.2
9 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 8.0
Rating Market Cap Section Avg. Rating
4 Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. 5.2
7.7 Overall REITRating™ Score (See trend) 6.1

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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Last updated: 2021-12-01 - v2.4