Bank of America Lowers Brandywine Realty Trust (NYSE:BDN) to Underperform

Bank of America lowered shares of Brandywine Realty Trust (NYSE:BDN) from a neutral rating to an underperform rating in a research note published on Tuesday morning, BenzingaRatingsTable reports. Bank of America currently has $15.50 target price on the real estate investment trust’s stock, down from their previous target price of $16.50.

Separately, Zacks Investment Research raised shares of Brandywine Realty Trust from a sell rating to a hold rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $16.30.

Shares of BDN opened at $15.35 on Tuesday. The company has a market cap of $2.75 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 4.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.82 and a current ratio of 1.82. Brandywine Realty Trust has a twelve month low of $12.32 and a twelve month high of $17.23.

Brandywine Realty Trust (NYSE:BDN) last issued its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.31). Brandywine Realty Trust had a net margin of 17.40% and a return on equity of 5.30%. The business had revenue of $144.00 million for the quarter, compared to the consensus estimate of $140.73 million. During the same period in the previous year, the business posted $0.32 EPS. Brandywine Realty Trust’s revenue was up 5.6% compared to the same quarter last year. Analysts predict that Brandywine Realty Trust will post 1.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.76 annualized dividend and a dividend yield of 4.95%. Brandywine Realty Trust’s payout ratio is 55.47%.

In other news, insider Tom Wirth sold 9,700 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $15.30, for a total value of $148,410.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James C. Diggs sold 3,700 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $14.84, for a total transaction of $54,908.00. Following the completion of the sale, the director now owns 36,034 shares in the company, valued at approximately $534,744.56. The disclosure for this sale can be found here. Company insiders own 1.32% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc boosted its stake in Brandywine Realty Trust by 0.5% during the third quarter. Vanguard Group Inc now owns 25,554,896 shares of the real estate investment trust’s stock worth $401,723,000 after buying an additional 132,787 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Brandywine Realty Trust during the fourth quarter worth $67,000. Xact Kapitalforvaltning AB boosted its stake in Brandywine Realty Trust by 40.9% during the fourth quarter. Xact Kapitalforvaltning AB now owns 36,869 shares of the real estate investment trust’s stock worth $475,000 after buying an additional 10,700 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Brandywine Realty Trust by 2.0% in the 4th quarter. Rhumbline Advisers now owns 184,142 shares of the real estate investment trust’s stock valued at $2,370,000 after purchasing an additional 3,630 shares in the last quarter. Finally, Dupont Capital Management Corp boosted its stake in shares of Brandywine Realty Trust by 81.4% in the 4th quarter. Dupont Capital Management Corp now owns 79,164 shares of the real estate investment trust’s stock valued at $1,019,000 after purchasing an additional 35,534 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Brandywine Realty Trust Company Profile

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, Washington, DC, and Austin markets. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio comprising 181 properties and 24.8 million square feet as of December 31, 2018, which excludes assets held for sale.

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