NYSE:BDN

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Brandywine Realty Trust

Executive Summary

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. More Details


Snowflake Analysis

6 star dividend payer and fair value.


Similar Companies

Share Price & News

How has Brandywine Realty Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BDN has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-3.3%

BDN

-3.5%

US REITs

-2.4%

US Market


1 Year Return

-32.2%

BDN

-16.4%

US REITs

18.2%

US Market

Return vs Industry: BDN underperformed the US REITs industry which returned -15.1% over the past year.

Return vs Market: BDN underperformed the US Market which returned 19.5% over the past year.


Shareholder returns

BDNIndustryMarket
7 Day-3.3%-3.5%-2.4%
30 Day-4.1%-0.5%4.2%
90 Day-8.1%0.3%6.3%
1 Year-27.4%-32.2%-13.0%-16.4%20.9%18.2%
3 Year-32.9%-43.1%12.8%-0.4%41.2%31.8%
5 Year-6.0%-26.4%37.3%9.7%84.8%63.9%

Price Volatility Vs. Market

How volatile is Brandywine Realty Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Brandywine Realty Trust undervalued compared to its fair value and its price relative to the market?

47.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BDN ($9.97) is trading below our estimate of fair value ($18.81)

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


Price To Earnings Ratio

PE vs Industry: BDN is poor value based on its PE Ratio (49.6x) compared to the US REITs industry average (34x).

PE vs Market: BDN is poor value based on its PE Ratio (49.6x) compared to the US market (19x).


Price to Earnings Growth Ratio

PEG Ratio: BDN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: BDN is good value based on its PB Ratio (1.1x) compared to the US REITs industry average (1.4x).


Next Steps

Future Growth

How is Brandywine Realty Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

-42.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BDN's earnings are forecast to decline over the next 3 years (-42.2% per year).

Earnings vs Market: BDN's earnings are forecast to decline over the next 3 years (-42.2% per year).

High Growth Earnings: BDN's earnings are forecast to decline over the next 3 years.

Revenue vs Market: BDN's revenue (1.9% per year) is forecast to grow slower than the US market (10% per year).

High Growth Revenue: BDN's revenue (1.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BDN's Return on Equity is forecast to be low in 3 years time (3%).


Next Steps

Past Performance

How has Brandywine Realty Trust performed over the past 5 years?

35.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BDN has a large one-off gain of $14.0M impacting its June 30 2020 financial results.

Growing Profit Margin: BDN's current net profit margins (6.2%) are lower than last year (16.1%).


Past Earnings Growth Analysis

Earnings Trend: BDN's earnings have grown significantly by 35.9% per year over the past 5 years.

Accelerating Growth: BDN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BDN had negative earnings growth (-60.3%) over the past year, making it difficult to compare to the REITs industry average (3.3%).


Return on Equity

High ROE: BDN's Return on Equity (2.3%) is considered low.


Next Steps

Financial Health

How is Brandywine Realty Trust's financial position?


Financial Position Analysis

Short Term Liabilities: BDN's short term assets ($541.2M) exceed its short term liabilities ($374.9M).

Long Term Liabilities: BDN's short term assets ($541.2M) do not cover its long term liabilities ($2.1B).


Debt to Equity History and Analysis

Debt Level: BDN's debt to equity ratio (126.6%) is considered high.

Reducing Debt: BDN's debt to equity ratio has increased from 115.6% to 126.6% over the past 5 years.

Debt Coverage: BDN's debt is not well covered by operating cash flow (12.5%).

Interest Coverage: BDN's interest payments on its debt are not well covered by EBIT (1.3x coverage).


Balance Sheet


Next Steps

Dividend

What is Brandywine Realty Trust current dividend yield, its reliability and sustainability?

7.62%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BDN's dividend (7.62%) is higher than the bottom 25% of dividend payers in the US market (1.62%).

High Dividend: BDN's dividend (7.62%) is in the top 25% of dividend payers in the US market (4.66%)


Stability and Growth of Payments

Stable Dividend: BDN's dividends per share have been stable in the past 10 years.

Growing Dividend: BDN's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (52.7%), BDN's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BDN's dividends in 3 years are forecast to be covered by earnings (55.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.6yrs

Average management tenure


CEO

Jerry Sweeney (63 yo)

26.17yrs

Tenure

US$5,335,186

Compensation

Mr. Gerard H. Sweeney, also known as Jerry, has been the Chief Executive Officer at Brandywine Realty Trust since August 8, 1994 and its President since 1994 and Trustee since February 9, 1994. He serves a ...


CEO Compensation Analysis

Compensation vs Market: Jerry's total compensation ($USD5.34M) is about average for companies of similar size in the US market ($USD4.44M).

Compensation vs Earnings: Jerry's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Gerard Sweeney
President26.17yrsUS$5.34m0.82%
$ 14.4m
Thomas Wirth
Executive VP & CFO6.58yrsUS$1.95m0.12%
$ 2.1m
George Johnstone
Executive Vice President of Operations6.58yrsUS$1.30m0.13%
$ 2.3m
H. DeVuono
Executive VP & Senior MD of Pennsylvania Region12.25yrsUS$1.52m0.13%
$ 2.3m
William Redd
Executive VP & Senior MD of Austin and Metro DC Regions12.75yrsUS$1.39m0.055%
$ 964.9k
George Hasenecz
Senior Vice President of Investments10.75yrsno datano data
Daniel Palazzo
VP, Chief Accounting Officer & Treasurer5.75yrsno data0.037%
$ 641.8k
James Kurek
VP and Chief Technology & Innovation Officer0.58yrno datano data
Shawn Neuman
Senior VP0.58yrno datano data
Laura Krebs Miller
Vice President of Marketing1.58yrsno datano data
Anna Abbott
Vice President of Human Resources2.75yrsno datano data
George Sowa
Executive VP & Senior MD of New Jersey & Delaware Region14.08yrsUS$626.87kno data

6.6yrs

Average Tenure

57yo

Average Age

Experienced Management: BDN's management team is seasoned and experienced (6.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Gerard Sweeney
President26.17yrsUS$5.34m0.82%
$ 14.4m
James Diggs
Independent Trustee9.58yrsUS$207.50k0.031%
$ 538.3k
Charles Pizzi
Independent Trustee24.17yrsUS$201.50k0.039%
$ 685.4k
Michael Joyce
Non-Executive Chairman of the Board & Lead Independent Trustee3.67yrsUS$272.00k0.051%
$ 899.6k
Wyche Fowler
Independent Trustee16.08yrsUS$182.00k0.044%
$ 763.2k
Terri Herubin
Independent Director2.42yrsUS$183.50k0.013%
$ 229.5k
H. Haverstick
Independent Trustee3.83yrsUS$203.50k0.020%
$ 348.0k

9.6yrs

Average Tenure

69yo

Average Age

Experienced Board: BDN's board of directors are considered experienced (9.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Brandywine Realty Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Brandywine Realty Trust
  • Ticker: BDN
  • Exchange: NYSE
  • Founded: 1994
  • Industry: Office REITs
  • Sector: Real Estate
  • Implied Market Cap: US$1.752b
  • Market Cap: US$1.701b
  • Shares outstanding: 171.55m
  • Website: https://www.brandywinerealty.com

Number of Employees


Location

  • Brandywine Realty Trust
  • 2929 Walnut Street
  • Suite 1700
  • Philadelphia
  • Pennsylvania
  • 19104
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BDNNYSE (New York Stock Exchange)YesCommon SharesUSUSDJul 1986
B2XDB (Deutsche Boerse AG)YesCommon SharesDEEURJul 1986

Biography

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, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/20 01:05
End of Day Share Price2020/10/19 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.