Brandywine Realty Trust

NYSE:BDN Stock Report

Market Cap: US$938.6m

Brandywine Realty Trust Valuation

Is BDN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BDN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BDN ($5.34) is trading below our estimate of fair value ($8.57)

Significantly Below Fair Value: BDN is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BDN?

Key metric: As BDN is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BDN. This is calculated by dividing BDN's market cap by their current revenue.
What is BDN's PS Ratio?
PS Ratio3x
SalesUS$306.93m
Market CapUS$938.64m

Price to Sales Ratio vs Peers

How does BDN's PS Ratio compare to its peers?

The above table shows the PS ratio for BDN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.4x
PGRE Paramount Group
1.8x4.4%US$1.1b
PDM Piedmont Office Realty Trust
1.8x0.8%US$1.1b
JBGS JBG SMITH Properties
2.3x-13.4%US$1.5b
DEA Easterly Government Properties
3.8x8.2%US$1.3b
BDN Brandywine Realty Trust
3x10.2%US$938.6m

Price-To-Sales vs Peers: BDN is expensive based on its Price-To-Sales Ratio (3x) compared to the peer average (2.4x).

Price to Sales Ratio vs Industry

How does BDN's PS Ratio compare vs other companies in the US Office REITs Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
OPI Office Properties Income Trust
0.1x-6.3%US$61.92m
CMCT Creative Media & Community Trust
0.1xn/aUS$14.05m
No more companies available in this PS range
BDN 3.0xIndustry Avg. 2.9xNo. of Companies4PS01.63.24.86.48+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BDN is expensive based on its Price-To-Sales Ratio (3x) compared to the US Office REITs industry average (3x).

Price to Sales Ratio vs Fair Ratio

What is BDN's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BDN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3x
Fair PS Ratio2x

Price-To-Sales vs Fair Ratio: BDN is expensive based on its Price-To-Sales Ratio (3x) compared to the estimated Fair Price-To-Sales Ratio (2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BDN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$5.34
US$5.67
+6.1%
16.6%US$7.00US$4.00n/a6
Dec ’25US$5.60
US$5.67
+1.2%
16.6%US$7.00US$4.00n/a6
Nov ’25US$5.08
US$5.58
+9.9%
19.6%US$7.00US$3.50n/a6
Oct ’25US$5.61
US$5.42
-3.4%
17.2%US$6.00US$3.50n/a6
Sep ’25US$5.23
US$5.17
-1.2%
16.4%US$6.00US$3.50n/a6
Aug ’25US$5.01
US$5.08
+1.5%
16.5%US$6.00US$3.50n/a6
Jul ’25US$4.39
US$5.08
+15.8%
16.5%US$6.00US$3.50n/a6
Jun ’25US$4.61
US$5.08
+10.3%
16.5%US$6.00US$3.50n/a6
May ’25US$4.57
US$5.04
+10.3%
18.2%US$6.00US$3.25n/a6
Apr ’25US$4.67
US$5.13
+9.7%
18.2%US$6.00US$3.25n/a6
Mar ’25US$4.30
US$5.13
+19.2%
18.2%US$6.00US$3.25n/a6
Feb ’25US$4.40
US$5.46
+24.1%
21.2%US$7.00US$3.25n/a6
Jan ’25US$5.40
US$5.25
-2.8%
23.7%US$7.00US$3.25n/a5
Dec ’24US$4.75
US$4.88
+2.6%
29.0%US$7.00US$3.00US$5.606
Nov ’24US$3.73
US$5.38
+44.1%
34.4%US$8.00US$2.75US$5.086
Oct ’24US$4.54
US$5.54
+22.1%
33.4%US$8.00US$2.75US$5.616
Sep ’24US$5.10
US$5.45
+6.9%
37.0%US$8.00US$2.75US$5.235
Aug ’24US$4.83
US$5.45
+12.8%
37.0%US$8.00US$2.75US$5.015
Jul ’24US$4.65
US$5.15
+10.8%
40.7%US$8.00US$2.75US$4.395
Jun ’24US$3.86
US$5.29
+37.1%
36.6%US$8.00US$2.75US$4.616
May ’24US$3.85
US$6.21
+61.3%
17.5%US$8.00US$4.50US$4.576
Apr ’24US$4.73
US$6.54
+38.3%
23.0%US$9.00US$4.50US$4.676
Mar ’24US$5.86
US$7.13
+21.6%
17.6%US$9.00US$5.75US$4.306
Feb ’24US$6.47
US$6.83
+5.6%
19.7%US$9.00US$5.00US$4.406
Jan ’24US$6.15
US$7.42
+20.6%
22.8%US$10.00US$5.00US$5.406
Dec ’23US$6.76
US$7.67
+13.4%
18.3%US$10.00US$6.00US$4.756

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 15:47
End of Day Share Price 2024/12/19 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Brandywine Realty Trust is covered by 29 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jacob KilsteinArgus Research Company
Ross SmotrichBarclays
Richard AndersonBMO Capital Markets U.S. (Historical)