Brandywine Realty Trust ( (BDN) ) has released its Q4 earnings. Here is a breakdown of the information Brandywine Realty Trust presented to its investors.
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Brandywine Realty Trust is a publicly traded real estate investment trust (REIT) focused on owning, developing, leasing, and managing urban, town center, and transit-oriented properties primarily in the Philadelphia and Austin markets.
For the fourth quarter and full year 2024, Brandywine Realty Trust announced mixed financial results with a reported net loss of $43.3 million for the fourth quarter, yet highlighted strong leasing activity with 783,000 square feet of commercial space leased in the quarter. The company also completed significant asset dispositions totaling over $300 million, exceeding its initial target and enhancing its liquidity position.
Key financial metrics included a funds from operations (FFO) of $29.9 million for the fourth quarter, down from $47.2 million in the same period of 2023. The core portfolio was 87.8% occupied and 89.9% leased, with rental rate growth on an accrual basis of 5.9%. Despite a decrease in same-store NOI on an accrual basis, cash-based same-store NOI showed a slight increase.
Looking forward, Brandywine Realty Trust has initiated 2025 guidance, projecting FFO per diluted share between $0.60 and $0.72. The company aims to maintain its robust leasing pipeline and anticipates no property acquisitions while planning to refinance upcoming debt maturities. Management remains focused on maintaining strong liquidity and continued leasing momentum in the coming year.
