BDN Stock Analysis: Brandywine Realty Trust | NYSE
REIT - Office | NYSE, USA | Market Cap: 532m USD | 12M Return: -18.1% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 6.11M
Qual. Beats: 0
Rev. Trend: -88.4%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 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 headquartered in Philadelphia, Pennsylvania, with a core operational focus on Philadelphia, PA and Austin, TX. Founded in 1986, the company operates as a real estate investment trust (REIT) and owns, develops, leases, and manages an urban, town center, and transit-oriented portfolio comprising 117 properties totaling 19.8 million square feet as of March 31, 2026.
As a diversified REIT in the GICS Real Estate sector, Brandywine earns revenue primarily through rental income from its office and mixed-use properties, and like most REITs it is generally required to distribute a significant portion of its taxable income to shareholders as dividends. Its emphasis on transit-oriented and urban office assets concentrates exposure to leasing demand in two high-growth U.S. markets, though this geographic focus also ties performance closely to the health of those regional economies.
- Philadelphia office occupancy recovery lags pre-pandemic levels
- Austin tech tenant concentration pressures leasing demand
- Refinancing risk mounts as office debt matures at higher rates
| Net Income: -200.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 0.02 > 1.0 |
| NWC/Revenue: 22.92% < 20% (prev 12.94%; Δ 9.98% < -1%) |
| CFO/TA 0.04 > 3% & CFO 130.6m > Net Income -200.5m |
| Net Debt (2.63b) to EBITDA (121.7m): 21.64 < 3 |
| Current Ratio: 1.63 > 1.5 & < 3 |
| Outstanding Shares: last quarter (173.8m) vs 12m ago 0.49% < -2% |
| Gross Margin: 41.77% > 18% (prev 62.54%; Δ -20.77% > 0.5%) |
| Asset Turnover: 13.98% > 50% (prev 14.62%; Δ -0.64% > 0%) |
| Interest Coverage Ratio: -0.34 > 6 (EBIT TTM -51.2m / Interest Expense TTM 149.3m) |
| A: 0.03 (Total Current Assets 289.3m - Total Current Liabilities 177.0m) / Total Assets 3.59b |
| B: 0.16 (Retained Earnings 556.7m / Total Assets 3.59b) |
| C: -0.01 (EBIT TTM -51.2m / Avg Total Assets 3.51b) |
| D: 0.26 (Book Value of Equity 734.3m / Total Liabilities 2.85b) |
| Altman-Z'' = 0.88 = B |
| DSRI: 1.06 (Receivables 207.6m/199.5m, Revenue 489.9m/500.5m) |
| GMI: 1.50 (GM 62.54% / 41.77%) |
| AQI: 3.51 (AQ_t 0.91 / AQ_t-1 0.26) |
| SGI: 0.98 (Revenue 489.9m / 500.5m) |
| TATA: -0.09 (NI -200.5m - CFO 130.6m) / TA 3.59b) |
| Beneish M = -1.06 (Cap -4..+1) = D |
As of July 18, 2026, the stock is trading at USD 3.14 with a total of 733,416 shares traded. Over the past week, the price has changed by +2.61%, over one month by +4.89%, over three months by +8.79% and over the past year by -18.06%.
Current recommended Stop Loss: 2.90 (which is 7.6% or 2.4 ATR below the current price).
Brandywine Realty Trust has received a consensus analysts rating of 3.33. Therefore, it is recommended to hold BDN.
- StrongBuy: 2
- Buy: 0
- Hold: 3
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 3 | -4.5% |
P/E Forward = 5.711
P/S = 1.215
P/B = 0.7239
P/EG = 1.9692
Revenue TTM = 489.9m USD
EBIT TTM = -51.2m USD
EBITDA TTM = 121.7m USD
Long Term Debt = 2.62b USD (from longTermDebt, last quarter)
Short Term Debt = 178.6m USD (from shortTermDebt, last quarter)
Debt = 2.67b USD (from shortLongTermDebtTotal, last quarter) + Leases 23.8m
Net Debt = 2.63b USD (calculated: Debt 2.67b - CCE 36.2m)
Enterprise Value = 3.17b USD (531.6m + Debt 2.67b - CCE 36.2m)
Interest Coverage Ratio = -0.34 (Ebit TTM -51.2m / Interest Expense TTM 149.3m)
EV/FCF = 103.6x (Enterprise Value 3.17b / FCF TTM 30.5m)
FCF Yield = 0.96% (FCF TTM 30.5m / Enterprise Value 3.17b)
FCF Margin = 6.23% (FCF TTM 30.5m / Revenue TTM 489.9m)
Net Margin = -40.92% (Net Income TTM -200.5m / Revenue TTM 489.9m)
Gross Margin = 41.77% ((Revenue TTM 489.9m - Cost of Revenue TTM 285.3m) / Revenue TTM)
Gross Margin QoQ = -18.49% (prev 63.57%)
Tobins Q-Ratio = 0.88 (Enterprise Value 3.17b / Total Assets 3.59b)
Interest Expense / Debt = 5.59% (Interest Expense 149.3m / Debt 2.67b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -40.4m (EBIT -51.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.63 (Total Current Assets 289.3m / Total Current Liabilities 177.0m)
Debt / Equity = 3.64 (Debt 2.67b / totalStockholderEquity, last quarter 734.3m)
Debt / EBITDA = 21.64 (Net Debt 2.63b / EBITDA 121.7m)
Debt / FCF = 86.23 (Net Debt 2.63b / FCF TTM 30.5m)
Total Stockholder Equity = 812.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -5.72% (Net Income -200.5m / Total Assets 3.59b)
RoE = -24.69% (Net Income TTM -200.5m / Total Stockholder Equity 812.1m)
RoCE = -1.49% (EBIT -51.2m / Capital Employed (Equity 812.1m + L.T.Debt 2.62b))
RoIC = -1.13% (negative operating profit) (NOPAT -40.4m / Invested Capital 3.56b)
WACC = 5.03% (E(531.6m)/V(3.20b) * Re(8.10%) + D(2.67b)/V(3.20b) * Rd(5.59%) * (1-Tc(0.21)))
Discount Rate = 8.10% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 52.18 | Cagr: 0.43%
[DCF] Terminal Value 76.39% ; FCFF base≈29.7m ; Y1≈31.7m ; Y5≈37.9m
[DCF] Fair Price = N/A (negative equity: EV 582.5m - Net Debt 2.63b = -2.05b; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.49 | # QB: 0
Revenue Correlation: -88.41 | Revenue CAGR: -2.22% | SUE: 2.01 | # QB: 1
EPS current Quarter (2026-06-30): EPS=-0.18 | Chg30d=-2.36% | Revisions=-25% | Analysts=2
EPS next Quarter (2026-09-30): EPS=-0.17 | Chg30d=-1.92% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=-0.77 | Chg30d=-4.24% | Revisions=-40% | GrowthEPS=+24.8% | GrowthRev=+0.5%
EPS next Year (2027-12-31): EPS=-0.64 | Chg30d=-1.06% | Revisions=+0% | GrowthEPS=+17.3% | GrowthRev=-5.3%
[Analyst] Revisions Ratio: -44% (up=1, down=5)