Brandywine Realty Trust (BDN) Hits New 12-Month High at $17.05
Brandywine Realty Trust (NYSE:BDN) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $17.05 and last traded at $16.97, with a volume of 643,325 shares trading hands. The stock had previously closed at $16.69.
BDN has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Brandywine Realty Trust from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Monday, July 18th. KeyCorp lowered Brandywine Realty Trust from a “sector weight” rating to an “underweight” rating and set a $14.00 target price on the stock. in a research report on Friday, July 15th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $17.00 target price on shares of Brandywine Realty Trust in a research report on Friday, July 22nd. Mizuho lowered Brandywine Realty Trust from a “buy” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research report on Friday, July 22nd. Finally, Citigroup Inc. increased their target price on Brandywine Realty Trust from $15.00 to $16.50 and gave the company a “neutral” rating in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Brandywine Realty Trust has a consensus rating of “Hold” and an average price target of $16.04.
The company’s market cap is $2.94 billion. The company has a 50-day moving average of $16.37 and a 200-day moving average of $14.44.
Brandywine Realty Trust (NYSE:BDN) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.32 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.32. The business had revenue of $127 million for the quarter, compared to analyst estimates of $126.64 million. The company’s revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS. Equities research analysts expect that Brandywine Realty Trust will post $1.30 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 20th. Investors of record on Wednesday, July 6th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.79%. This is an increase from Brandywine Realty Trust’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, July 1st.
In related news, CEO Gerard H. Sweeney sold 60,000 shares of the company’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $15.74, for a total transaction of $944,400.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tom Wirth sold 5,000 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $16.69, for a total value of $83,450.00. Following the transaction, the insider now directly owns 99,698 shares in the company, valued at approximately $1,663,959.62. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have made changes to their positions in BDN. Vanguard Group Inc. raised its position in shares of Brandywine Realty Trust by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 24,953,151 shares of the company’s stock worth $340,861,000 after buying an additional 234,041 shares in the last quarter. Waterfront Capital Partners LLC raised its stake in Brandywine Realty Trust by 49.5% in the fourth quarter. Waterfront Capital Partners LLC now owns 1,270,631 shares of the company’s stock valued at $17,357,000 after buying an additional 420,631 shares during the period. State of New Jersey Common Pension Fund D raised its stake in Brandywine Realty Trust by 10.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 517,500 shares of the company’s stock valued at $7,070,000 after buying an additional 47,500 shares during the period. Eii Capital Management Inc. purchased a new stake in Brandywine Realty Trust during the fourth quarter valued at $3,696,000. Finally, Advantus Capital Management Inc raised its stake in Brandywine Realty Trust by 59.0% in the fourth quarter. Advantus Capital Management Inc now owns 180,057 shares of the company’s stock valued at $2,460,000 after buying an additional 66,800 shares during the period.
Brandywine Realty Trust is a self-administered and self-managed real estate investment trust (REIT). The Company provides leasing, property management, development, redevelopment, acquisition and other tenant-related services for a portfolio of office, industrial, retail and mixed-use properties. The Company manages its portfolio within four segments: Pennsylvania Suburbs, Philadelphia Central Business District (CBD), Metropolitan Washington, DC and Austin, Texas.
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