Brandywine Realty reports Q2 net loss of $89 mln

Overview

• Brandywine Realty Trust reports Q2 net loss of $89 mln due to impairments

• FFO for Q2 at $26.1 mln, down from $38 mln in prior year

Outlook

• Company revises 2025 FFO guidance to $0.60 - $0.66 per share

• Brandywine adjusts 2025 loss per share guidance to $(0.96) - $(0.90)

• Brandywine removes land sales gains from 2025 business plan

Result Drivers

• TENANT DEMAND - Tenant demand improved, with Q2 leasing activity up 35% from Q1

• DEVELOPMENT LEASING - Signed 100,000 sq ft lease at One Uptown office development, Solaris residential project 89% leased

• IMPAIRMENT CHARGES - Non-cash impairment charges of $63.4 mln related to Austin assets impacted Q2 results

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy."

• Wall Street's median 12-month price target for Brandywine Realty Trust is $5.00, about 13.4% above its July 23 closing price of $4.33

Press Release: ID:nGNX37Xd56