BDN Stock Analysis: Brandywine Realty Trust | NYSE
REIT - Office | NYSE, USA | Market Cap: 437m USD | 12M Return: -18.3% | US1053682035 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 4.73M
Qual. Beats: 0
Rev. Trend: -85.5%
Qual. Beats: 2
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Brandywine Realty Trust (NYSE: BDN) is a publicly traded, full-service, integrated real estate company focused primarily on the Philadelphia, PA and Austin, TX markets. Organized as a real estate investment trust (REIT), the company owns, develops, leases, and manages an urban, town center, and transit-oriented portfolio. Brandywine was incorporated in 1986 in Maryland and is headquartered in Philadelphia, Pennsylvania.
As a REIT, Brandywine is structured under U.S. tax rules that allow qualifying companies to pass through taxable income to shareholders, generally requiring the distribution of at least 90% of taxable earnings as dividends in exchange for corporate tax exemption on distributed income. The companys emphasis on transit-oriented and urban town center properties reflects a common sub-sector strategy within diversified REITs, targeting mixed-use developments in high-density, walkable locations near public transportation hubs.
- Philadelphia office occupancy rates drive rental revenue
- Near-term debt maturities increase refinancing risk
- Austin tech tenant pullback raises vacancy concerns
| Net Income: -143.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 12.97 > 1.0 |
| NWC/Revenue: -23.29% < 20% (prev 45.31%; Δ -68.60% < -1%) |
| CFO/TA 0.04 > 3% & CFO 137.8m > Net Income -143.0m |
| Net Debt (2.64b) to EBITDA (201.2m): 13.10 < 3 |
| Current Ratio: 0.34 > 1.5 & < 3 |
| Outstanding Shares: last quarter (174.4m) vs 12m ago 0.49% < -2% |
| Gross Margin: 22.14% > 18% (prev 62.37%; Δ -40.23% > 0.5%) |
| Asset Turnover: 14.38% > 50% (prev 14.61%; Δ -0.23% > 0%) |
| Interest Coverage Ratio: 0.10 > 6 (EBIT TTM 15.9m / Interest Expense TTM 159.0m) |
| A: -0.03 (Total Current Assets 60.9m - Total Current Liabilities 177.0m) / Total Assets 3.54b |
| B: -0.71 (Retained Earnings -2.52b / Total Assets 3.54b) |
| C: 0.00 (EBIT TTM 15.9m / Avg Total Assets 3.47b) |
| D: 0.24 (Book Value of Equity 691.2m / Total Liabilities 2.84b) |
| Altman-Z'' = -2.25 = D |
| DSRI: 0.94 (Receivables 189.2m/199.4m, Revenue 498.3m/495.8m) |
| GMI: 2.82 (GM 62.37% / 22.14%) |
| AQI: 0.22 (AQ_t 0.20 / AQ_t-1 0.88) |
| SGI: 1.01 (Revenue 498.3m / 495.8m) |
| TATA: -0.08 (NI -143.0m - CFO 137.8m) / TA 3.54b) |
| Beneish M = -1.89 (Cap -4..+1) = B |
As of October 21, 2026, the stock is trading at USD 2.68 with a total of 2,404,965 shares traded. Over the past week, the price has changed by +0.37%, over one month by -5.81%, over three months by -10.69% and over the past year by -18.31%.
Current recommended Stop Loss: 2.50 (which is 6.7% or 2 ATR below the current price).
Brandywine Realty Trust has received a consensus analysts rating of 2.40. Therefore, it is recommended to sell BDN.
- StrongBuy: 0
- Buy: 0
- Hold: 3
- Sell: 1
- StrongSell: 1
| Analysts Target Price | 3 | 11.9% |
P/E Forward = 5.711
P/S = 0.9663
P/B = 0.725
P/EG = 1.9692
Revenue TTM = 498.3m USD
EBIT TTM = 15.9m USD
EBITDA TTM = 201.2m USD
Long Term Debt = 2.56b USD (from longTermDebt, last fiscal year)
Short Term Debt = 358k USD (from shortTermDebt, last quarter)
Debt = 2.68b USD (from shortLongTermDebtTotal, last quarter) + Leases 23.8m
Net Debt = 2.64b USD (calculated: Debt 2.68b - CCE 41.0m)
Enterprise Value = 3.07b USD (437.0m + Debt 2.68b - CCE 41.0m)
Interest Coverage Ratio = 0.10 (Ebit TTM 15.9m / Interest Expense TTM 159.0m)
EV/FCF = 11.11x (Enterprise Value 3.07b / FCF TTM 276.7m)
FCF Yield = 9.00% (FCF TTM 276.7m / Enterprise Value 3.07b)
FCF Margin = 55.53% (FCF TTM 276.7m / Revenue TTM 498.3m)
Net Margin = -28.69% (Net Income TTM -143.0m / Revenue TTM 498.3m)
Gross Margin = 22.14% ((Revenue TTM 498.3m - Cost of Revenue TTM 388.0m) / Revenue TTM)
Gross Margin QoQ = -14.81% (prev -18.49%)
Tobins Q-Ratio = 0.87 (Enterprise Value 3.07b / Total Assets 3.54b)
Interest Expense / Debt = 5.94% (Interest Expense 159.0m / Debt 2.68b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 12.5m (EBIT 15.9m * (1 - 21.00%))
Current Ratio = 0.19 (Total Current Assets 60.9m / Total Current Liabilities 313.6m)
Debt / Equity = 3.87 (Debt 2.68b / totalStockholderEquity, last quarter 691.2m)
Debt / EBITDA = 13.10 (Net Debt 2.64b / EBITDA 201.2m)
Debt / FCF = 9.53 (Net Debt 2.64b / FCF TTM 276.7m)
Total Stockholder Equity = 764.9m (last 4 quarters mean from totalStockholderEquity)
RoA = -4.13% (Net Income -143.0m / Total Assets 3.54b)
RoE = -18.69% (Net Income TTM -143.0m / Total Stockholder Equity 764.9m)
RoCE = 0.48% (EBIT 15.9m / Capital Employed (Equity 764.9m + L.T.Debt 2.56b))
RoIC = 0.36% (NOPAT 12.5m / Invested Capital 3.51b)
WACC = 5.09% (E(437.0m)/V(3.11b) * Re(7.55%) + D(2.68b)/V(3.11b) * Rd(5.94%) * (1-Tc(0.21)))
Discount Rate = 7.55% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 50.48 | Cagr: 0.56%
[DCF] Terminal Value 75.44% ; FCFF base≈276.7m ; Y1≈277.8m ; Y5≈294.3m
[DCF] Fair Price = 11.28 (EV 4.58b - Net Debt 2.64b = Equity 1.94b / Shares 172.2m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.07 | # QB: 0
Revenue Correlation: -85.48 | Revenue CAGR: -2.13% | SUE: 0.96 | # QB: 2
EPS current Quarter (2026-09-30): EPS=-0.16 | Chg30d=N/A | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=-0.74 | Chg30d=-0.19% | Revisions=+25% | GrowthEPS=+28.4% | GrowthRev=+0.4%
EPS next Year (2027-12-31): EPS=-0.64 | Chg30d=+4.48% | Revisions=+0% | GrowthEPS=+17.3% | GrowthRev=-3.9%
[Analyst] Revisions Ratio: +0% (up=1, down=1)