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

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Brandywine Realty Trust (NYSE:BDN) was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday, MarketBeat reports. They presently have a $15.50 price target on the real estate investment trust’s stock, down from their prior price target of $16.50. Bank of America‘s target price indicates a potential upside of 1.71% from the stock’s current price.

Separately, Zacks Investment Research lowered Brandywine Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $16.30.

Brandywine Realty Trust stock opened at $15.24 on Tuesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.82 and a quick ratio of 1.82. Brandywine Realty Trust has a 52-week low of $12.32 and a 52-week high of $17.23. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 4.17 and a beta of 1.05.

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

In other news, insider Tom Wirth sold 9,700 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $15.30, for a total transaction of $148,410.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James C. Diggs sold 3,700 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $14.84, for a total value of $54,908.00. Following 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. 1.32% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Brandywine Realty Trust during the fourth quarter worth $67,000. Norges Bank bought a new stake in shares of Brandywine Realty Trust during the fourth quarter worth $26,633,000. Westpac Banking Corp grew its holdings in shares of Brandywine Realty Trust by 5.6% during the fourth quarter. Westpac Banking Corp now owns 194,575 shares of the real estate investment trust’s stock worth $2,504,000 after purchasing an additional 10,302 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Brandywine Realty Trust by 1,056.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 762,150 shares of the real estate investment trust’s stock worth $9,809,000 after purchasing an additional 696,272 shares during the last quarter. Finally, V3 Capital Management L.P. grew its holdings in shares of Brandywine Realty Trust by 11.8% during the fourth quarter. V3 Capital Management L.P. now owns 1,889,300 shares of the real estate investment trust’s stock worth $24,315,000 after purchasing an additional 200,000 shares during the last quarter. Institutional investors own 98.33% of the company’s stock.

About Brandywine Realty Trust

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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