Brandywine Realty (BDN) AI Stock Analysis

• Market Cap: $782.22M
• Dividend Yield: 13.57%
• Average Volume (3M): 2.08M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.05
• Revenue Growth: -3.05%
• EPS Growth: -94.96%
• Country: US
• Employees: 285
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Office
• EPS (TTM): 0.44
• Shares Outstanding: 173,699,040
• 10 Day Avg. Volume: 2,160,485
• 30 Day Avg. Volume: 2,075,865
• PEG Ratio: 5.67
• Price to Book (P/B): 0.93
• Price to Sales (P/S): 1.91
• P/FCF Ratio: 18.81
• Enterprise Value/Market Cap: 3.80
• Enterprise Value/Revenue: 5.99
• Enterprise Value/Gross Profit: 8.65
• Enterprise Value/Ebitda: 50.22
• 1Y Price Target: $4.33
• Price Target Upside: -2.04% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 3

• Rating: 50 Neutral
• Price Target: $4.50 ▲(1.81% Upside)

Brandywine Realty's overall stock score reflects significant financial challenges, including declining revenues and high leverage, which are the most impactful factors. While technical indicators show some positive momentum, valuation concerns and mixed earnings call results further weigh on the score. The high dividend yield provides some support, but risks remain substantial.

Brandywine Realty Business Overview & Revenue Model

Company Description

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 175 properties and 24.7 million square feet as of December 31, 2020 which excludes assets held for sale. 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.

How the Company Makes Money

Brandywine Realty generates revenue primarily through leasing office and mixed-use properties to a diverse range of tenants, including corporations, government agencies, and non-profit organizations. The company's revenue model is heavily reliant on rental income from its portfolio of properties, which includes both stabilized assets and development projects. In addition to rental income, Brandywine may also earn revenue from property management fees and ancillary services related to its real estate operations. Significant partnerships with local governments and private developers can enhance the company’s revenue potential through joint ventures and development agreements. Furthermore, the strategic positioning of its properties in urban centers allows Brandywine to capitalize on the demand for high-quality office space, contributing to its overall earnings.

Brandywine Realty Financial Statement Overview

Summary

Brandywine Realty is facing significant financial challenges with declining revenues, high leverage, and weakened cash flow generation. The income statement reveals a sharp decline in revenue growth and deeply negative net profit margin, while the balance sheet shows a high debt-to-equity ratio. Cash flow analysis indicates a significant decline in free cash flow growth.

Income Statement

Brandywine Realty's income statement shows significant challenges. The TTM data reveals a sharp decline in revenue growth by 95.4%, and the net profit margin is deeply negative at -65.83%. The EBIT margin is also negative, indicating operational inefficiencies. While the gross profit margin remains relatively high at 69.20%, the overall profitability is severely impacted by high net losses.

Balance Sheet

The balance sheet reflects a high debt-to-equity ratio of 2.66, indicating substantial leverage. The return on equity is negative, suggesting that the company is not generating profits from its equity base. The equity ratio is relatively low, pointing to a higher reliance on debt financing, which could pose risks in a rising interest rate environment.

Cash Flow

Cash flow analysis shows a significant decline in free cash flow growth by 68.22% in the TTM period. However, the operating cash flow to net income ratio is strong at 8.76, indicating good cash generation relative to net income. The free cash flow to net income ratio is low, reflecting challenges in converting earnings into free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	495.77M	505.52M	437.84M	506.10M	457.85M	534.85M
Gross Profit	343.07M	318.19M	324.70M	311.70M	298.51M	329.40M
EBITDA	59.12M	103.00M	91.29M	303.89M	255.97M	279.63M
Net Income	-326.38M	-195.91M	-197.36M	53.82M	12.29M	305.53M
Balance Sheet
Total Assets	3.39B	3.49B	3.73B	3.87B	3.85B	3.90B
Cash, Cash Equivalents and Short-Term Investments	122.64M	90.23M	58.32M	17.55M	27.46M	46.34M
Total Debt	2.34B	2.24B	2.16B	1.99B	1.88B	1.85B
Total Liabilities	2.51B	2.45B	2.41B	2.24B	2.14B	2.10B
Stockholders Equity	879.77M	1.04B	1.32B	1.63B	1.69B	1.79B
Cash Flow
Free Cash Flow	11.69M	51.37M	20.81M	-53.71M	55.75M	65.56M
Operating Cash Flow	149.86M	181.13M	177.27M	209.31M	190.87M	225.81M
Investing Cash Flow	-22.58M	-120.19M	-174.91M	-190.59M	-100.31M	18.29M
Financing Cash Flow	-40.04M	-32.30M	46.79M	-28.63M	-109.34M	-288.19M

Brandywine Realty Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.42
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BDN, the sentiment is Positive. The current price of 4.42 is above the 20-day moving average (MA) of 4.41, above the 50-day MA of 4.20, and above the 200-day MA of 4.34, indicating a bullish trend. The MACD of 0.09 indicates Positive momentum. The RSI at 54.38 is Neutral, neither overbought nor oversold. The STOCH value of 41.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BDN.

Brandywine Realty Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HIW	68 Neutral	3.38B	26.75	5.44%	6.44%	-2.16%	-16.41%
CIO	65 Neutral	280.53M	-2.19	-19.58%	5.76%	-3.69%	-777.30%
PGRE	64 Neutral	1.52B	-18.18	-1.47%	―	-1.68%	63.27%
PDM	57 Neutral	1.11B	-15.86	-4.42%	5.72%	-6.74%	17.44%
BDN	50 Neutral	$782.22M	―	-29.94%	13.57%	-3.05%	-94.96%
HPP	50 Neutral	1.03B	-0.93	-12.34%	―	-9.68%	-69.03%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%

Brandywine Realty Corporate Events

Brandywine Realty Completes $150M Notes Offering

On June 27, 2025, Brandywine Operating Partnership, L.P., a subsidiary of Brandywine Realty Trust, completed a $150 million offering of 8.875% Guaranteed Notes due 2029. The proceeds from this offering will be used to repay outstanding borrowings under its $600 million unsecured revolving credit facility, fund partial repayment of secured debt, and for general corporate purposes. This financial maneuver is expected to bolster the company’s liquidity and financial flexibility, potentially impacting its market positioning and stakeholder interests.

Brandywine Realty Announces $150 Million Notes Offering

On June 17, 2025, Brandywine Realty Trust announced the pricing of a $150 million public offering of 8.875% guaranteed notes due 2029, with a re-offer yield of 7.039%. The proceeds, expected to be approximately $148 million after expenses, will be used to repay borrowings under its credit facility, fund partial debt repayment, and for general corporate purposes. The offering, expected to close on June 27, 2025, strengthens Brandywine’s financial positioning by addressing existing debt obligations.