Reading BDN? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track BDN free→Reading BDN? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track BDN free→NYSEReal EstateReit - OfficeSnapshot 2026-06-16
Recent financial performance sits below its industry cohort — worth keeping an eye on, though it has not freshly broken.
Recent financial performance is neutral, and management's recent track record has been unsteady, with frequent disruptive corporate changes. The company was unprofitable over the past year, so its earnings quality can't be assessed. Peer multiples imply a price about 67% above where it trades (it looks cheap on this basis); the read is cheap, value-trap risk, as it trades below peer multiples, but recent financials are weak or earnings quality is fragile, historically a value-trap pattern. If BDN cuts guidance on the next call, that could be a meaningful negative. This read is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 2 valuation methods, at three horizons. Current price $3.19. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $3.21 BDN trades at 1× p/s, below its 6× p/s peer median. Our $9.68 fair value sits above the price; low confidence. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The price implies about 67% below a flat-multiple fair value, below our forecast of about -1%. This describes what's priced in, not a forecast of the move.
TTM earnings are negative, so the read leans on sales- and cash-flow-based methods rather than P/E. This is a data condition, not a forward call.
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Real Estate names rated neutral grew net income 53% of the time over the next year (vs 57% for the rest of the cohort, n=1968).
Over the trailing year it converted -0.60x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity.
13 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Real Estate names rated volatile grew net income 54% of the time over the next year (vs 57% for the rest of the cohort, n=3774).
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $-0.19 → $-0.18 (+4.4% / 30d). 0 raised, 1 cut, 2 covering analysts.
0 upgrades, 0 downgrades / 30d. 0% of analysts rate Buy.
0 positive, 1 negative / 30d. See F4 management tile for the event list.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$133.
How much price usually moves either way.
On a bad day, this stock has moved -$353.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $4,341.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-16
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: The real estate sector is slowing. Any signs of growth speeding up could help Brandywine.
Confirms:Sector revenue growth speeds up to over 5% year over year.
Disproves:Sector revenue growth keeps slowing down to below 5% year over year.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for BDN yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Entry into a Material Definitive Agreement. On May 28, 2026, Brandywine Realty Trust, a Maryland real estate investment trust (the “Company”), and its operating partnership, Brandywine Operating Partnership, L.P., a Delaware limited partnership (the “Operating Partnership” and, together with the Company, the “Borrowers”) extended the maturity date of the Borrowers’ revolving credit facility (the “Revolving Credit Facility”) provided under the Borrowers’ Second Amended and Restated Credit Agre…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
TTM earnings are negative. P/E-based methods drop out and the estimate leans on sales- and cash-flow-based methods. A data condition, not a forward call.
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Looks cheaper than most peers in the same business.
Self-history needs ~20 months of data.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus Office REITs.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
BDN Brandywine Realty Trust | Below typical Show detailsSector percentile: 27 of 100 | inexpensive | elevated |
BXP BXP, Inc. | Above typical Show detailsSector percentile: 80 of 100 | full | moderate |
ARE Alexandria Real Estate Equities | Typical Show detailsSector percentile: 48 of 100 | inexpensive | elevated |
VNO Vornado Realty Trust | Above typical Show detailsSector percentile: 70 of 100 | inexpensive | moderate |
HPP Hudson Pacific Properties, Inc. | Typical Show detailsSector percentile: 60 of 100 | inexpensive | elevated |
Not investment advice. As of 2026-06-16.
via XLRE
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-16.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Continue to provide a consistent dividend payout to shareholders.
Revise the EPS guidance for fiscal year 2026 to reflect current expectations.
Extend the maturity date of the revolving credit facility to improve financial flexibility.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers (e) The Annual Meeting of Shareholders (the “Annual Meeting”) of the Company was held on May 28, 2026. At the Annual Meeting, the Company’s shareholders approved an amendment (the “Amendment”) to the Company’s 2023 Long-Term Incentive Plan (the “2023 Plan”) to increase the number of common shares that may be issued thereunder by 5,000,000 shares and…
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth above in
“Results of Operations and Financial Condition,” including the press release attached as an exhibit to this Current Report, is being furnished and shall not be deemed to be “filed” for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange…
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The Original Report disclosed that George D. Johnstone, the Company’s Executive Vice President – Operations, informed the Company of his intent to retire by the end of the first quarter of 2026 and that Mr. Johnstone and the Company expected to enter into a transition agreement in connection with his retirement. On March 10, 2026, the Company and M…