Brandywine Realty Trust (NYSE: BDN ) announced their quarterly results on October 22nd and held their earnings call on the next morning for the third quarter of the year ending on September 30th. The results were a bit mixedI own separate portfolios for separate goals. I have one portfolio where I have nothing but income plays, another portfolio where I have nothing but growth stocks. I also have another portfolio where I run my options plays. I try not to mix different portfolios because they all have diff ...

Financial Data and Key Metrics Changes - The company reported a net loss of $165.5 million or $0.96 per share for Q3 2024, impacted by impairment charges totaling $161.4 million or $0.93 per share [18] - Funds from Operations (FFO) totaled $39.8 million or $0.23 per diluted share, which was one penny below consensus estimates [18] - General and Administrative (G&A) expenses were $12.6 million, $3.6 million above the previous quarter's forecast due to higher non-cash equity compensation amortization [18] - The net debt to EBITDA ratio decreased to 7.5 times, benefiting from operating results and sales activity [12] Business Line Data and Key Metrics Changes - The company executed 298,000 square feet of leases, including 125,000 square feet of new leases within the wholly owned portfolio, exceeding second quarter levels [9] - The leasing pipeline through the company remains strong, with the operating portfolio leasing pipeline standing at 2 million square feet [11] - The residential component of the Schuylkill Yards project has met the year-end target of being over 80% leased [5] Market Data and Key Metrics Changes - The company noted that Austin continues to face near-term challenges, but intermediate-term growth prospects remain strong [7] - Philadelphia has one of the lowest vacancy rates among large cities, with occupancy levels in the wholly owned portfolio at about 94% [7] - The increase in physical tours exceeded second quarter tours by 7% and remained above pre-pandemic levels by 36% [10] Company Strategy and Development Direction - The company focuses on three key areas: liquidity, development lease-up, and portfolio stability [3] - The development pipeline remains strong, with about $1 billion under active development, including a mix of life science, residential, office, and retail projects [14] - The company anticipates that upon stabilization, development projects will generate about a 15.5% increase to the existing income stream [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall market dynamics, noting a clear bifurcation between Class A and Class B properties [26] - The company believes that the quality thesis has real traction, with significant upward rent pressure expected for quality assets [48] - Management acknowledged the need to finalize leases in negotiation to provide quantitative support for project success [48] Other Important Information - The company has increased its sales target to a midpoint of $150 million, with anticipated transactions expected to close in Q4 [13] - The company has no unsecured bond maturities until November 2027, indicating a strong liquidity position [20] - The anticipated cash balances at the end of the year have been positively impacted by increased sales activity [24] Q&A Session All Questions and Answers Question: Demand in Austin and pipeline details - Management indicated that the majority of deals in the pipeline are from tenants already in the Austin market, with significant expansions being accommodated [27][28] Question: Cap rates on dispositions - The blended cash and GAAP cap rate for anticipated sales is expected to be around 8% [30] Question: Uptown ATX pipeline and tenant inquiries - Management confirmed that they are actively pursuing all potential tenants in the market, including those looking for large spaces [32][33] Question: Concessions and leasing environment - Management noted that while concessions vary by market, they have not seen significant increases in Philadelphia, but there is upward pressure on tenant improvement allowances in Austin [36][37] Question: Joint ventures and recapitalization - Most joint ventures have been resolved, with two still in transition expected to be finalized by the end of the year [57] Question: Retention rates and future expectations - The third quarter retention was impacted by a known move-out, but management is confident in meeting the increased retention target for the year [59] Question: Pricing expectations for dispositions - Pricing for marketed assets has remained on track with initial expectations, with no material changes noted [62]

Core Insights - Brandywine Realty Trust reported revenue of $131.78 million for the quarter ended September 2024, reflecting a 1.9% increase year-over-year, but fell short of the Zacks Consensus Estimate of $133.23 million by 1.09% [1] - The company achieved an EPS of $0.23, a significant improvement from -$0.13 in the same quarter last year, but missed the consensus estimate of $0.24 by 4.17% [1] - Key revenue metrics showed mixed results, with rental revenue declining by 3% year-over-year, while other revenue categories experienced notable changes [1] Revenue Breakdown - Revenue from rents was reported at $117.96 million, below the average estimate of $120.69 million from two analysts, indicating a year-over-year decrease of 3% [1] - Revenue from third-party management fees, labor reimbursement, and leasing was $6.09 million, exceeding the average estimate of $5.70 million, but reflecting a year-over-year decline of 7% [1] - Other revenue sources reported $7.73 million, surpassing the estimated $7.31 million, and showing a remarkable year-over-year increase of 567.6% [1] Earnings Performance - The diluted net earnings per share were reported at -$0.96, which was significantly lower than the average estimate of -$0.07 from two analysts [1] Stock Performance - Over the past month, shares of Brandywine Realty Trust have returned +23.6%, outperforming the Zacks S&P 500 composite's +2.8% change [2] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [2]

Brandywine Realty Trust (BDN) came out with quarterly funds from operations (FFO) of $0.23 per share, missing the Zacks Consensus Estimate of $0.24 per share. This compares to FFO of $0.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of -4.17%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.22 per share when it actually produced FFO of $0.22, delivering no surprise.Over the last four quar ...

Exhibit 99.1 1 Company / Investor Contact: Tom Wirth EVP & CFO 610-832-7434 tom.wirth@bdnreit.com Brandywine Realty Trust Announces Third Quarter 2024 Results And Adjusts And Narrows 2024 Guidance Philadelphia, PA, October 22, 2024 — Brandywine Realty Trust (NYSE:BDN) today reported its financial and operating results for the three and nine-month periods ended September 30, 2024. Management Comments "During the third quarter we made strong progress on our 2024 business plan highlighted by exceeding many of ...

PHILADELPHIA, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE:BDN) today reported its financial and operating results for the three and nine-month periods ended September 30, 2024. Management Comments “During the third quarter we made strong progress on our 2024 business plan highlighted by exceeding many of our targets and for the second consecutive quarter raising both our speculative revenue target and our annual tenant retention rate,” stated Gerard H. Sweeney, President and Chief Execut ...

PHILADELPHIA, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE:BDN) announced today that its Board of Trustees has declared a quarterly cash dividend of $0.15 per common share and OP Unit payable on October 24, 2024 to holders of record on October 9, 2024. The quarterly dividend is equivalent to an annual rate of $0.60 per share. Conference Call and Audio Webcast We will release our third quarter earnings after the market close on Tuesday October 22, 2024 and will hold our third quarter conf ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _____________________________________________________________________________________________ FORM 10-Q _____________________________________________________________________________________________ (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Excha ...

Core Viewpoint - Urban real estate, particularly the office sector, has been significantly reshaped by the pandemic and rising interest rates, leading to evolving consumer preferences and a complex market environment [1] Company Overview - Brandywine Realty Trust (BDN) is a major developer, owner, and manager of urban properties primarily in Philadelphia and Austin, with a focus on mixed-use assets and a consumer-oriented business model [2][4] - BDN operates a portfolio of 156 transit-oriented properties covering over 22 million square feet, with 95% of net operating income generated from Philadelphia (76%) and Austin (19%) [2][4] - The company emphasizes social responsibility and has been recognized as Developer of the Year by NAIOP [2] Recent Developments - BDN's ongoing project, Uptown ATX in Austin, will include a mix of property types and is expected to add 3,700 multifamily units, 1.3 million square feet of life science space, and 1.4 million square feet of office space [3][4] - The company has over 10 million square feet of development potential in its land bank, which is crucial for future growth in Philadelphia and Austin [4] Financial Performance - BDN's stock has seen a significant decline of 65.78% over recent years, with a total return of -45.18% [5] - The company has faced challenges due to weak demand for office space, leading to a reduction in its dividend from $0.19 to $0.15 per share [7] - BDN reported Q2 earnings with an occupancy rate of 87% and over 650,000 square feet of leasing activity, indicating progress towards its business goals [10][11] Market Outlook - The urban real estate market remains challenging, with rising interest rates and shifting consumer preferences impacting demand [12] - BDN's focus on Philadelphia and Austin is seen as beneficial, but the overall outlook for the office market is uncertain, with management actively planning for near-term requirements [12]

Brandywine Realty Trust (NYSE:BDN) Q2 2024 Earnings Conference Call July 24, 2024 9:00 AM ET Company Participants Jerry Sweeney - President and CEO George Johnstone - EVP of Operations Daniel Palazzo - Senior Vice President and Chief Accounting Officer Tom Wirth - EVP and CFO Conference Call Participants Anthony Paolone - JPMorgan Steve Sakwa - Evercore ISI Michael Griffin - Citi Dylan Burzinski - Green Street Omotayo Okusanya - Deutsche Bank Michael Lewis - Truist Securities Gabby Horvath - KeyBanc Operato ...