Truist downgraded Brandywine Realty (BDN) to Hold from Buy with a price target of $4, down from $5. The firm says slow development lease-up and higher interest rates have hurt Brandywine’s earnings and financial leverage. Investor focus will turn to the company’s largest tenant vacating in 2027, and there is a high chance the dividend will be cut again at that time or earlier, the analyst tells investors in a research note.
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