Brandywine Realty Trust
Develops and leases office and life-science space concentrated in Philadelphia and Austin.
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Profile
Owns and operates a self-managed portfolio of office, life-science, and mixed-use properties concentrated in Philadelphia and Austin, earning rental income from long-term leases while developing neighborhood-scale platforms like Schuylkill Yards and Uptown ATX in-house rather than through an external manager.
Owns, develops, leases, and manages office, life-science, residential, and mixed-use properties, handling leasing, operations, and capital allocation in-house rather than through an external manager.
The portfolio is concentrated in greater Philadelphia and Austin, Texas. Schuylkill Yards, built under a master-development agreement with Drexel University next to Philadelphia's 30th Street Station, and Uptown ATX, a transit-oriented North Austin community timed to a planned light-rail stop, anchor the development pipeline.
Reconstituted in 1994 under its current leadership after decades as a broader Mid-Atlantic office owner, the company has since narrowed to these two markets and is building out a life-science product line, anchored by an in-house lab incubator, toward roughly a quarter of the portfolio.
Office demand recovery in Philadelphia and Austin, and how quickly life-science tenants can raise capital, set the pace of that shift.
Company facts
Categories
Key statistics
Year to date +3.9% · Average volume (30d) 2.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Apr 27, 2026 | Truist Financial | Target | $11 | $3 | ||
| Dec 4, 2025 | Keybanc | Downgrade | Overweight | Sector Weight | ||
| Nov 24, 2025 | JP Morgan | Downgrade | Neutral | Underweight | ||
| Nov 14, 2025 | Evercore ISI | Target | $5 | $4 | ||
| Sep 29, 2025 | Evercore ISI | Target | $5 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q2 FY26 | −$0.18 | $0.13 | +172.9% | $113.0M | $122.7M | +8.5% | 0.00% |
| Apr 22, 2026Q1 FY26 | $0.11 | $0.11 | 0.0% | $110.6M | $120.7M | +9.1% | +0.34% |
| Feb 3, 2026Q4 FY25 | −$0.23 | −$0.21 | +7.4% | $115.8M | $114.1M | −1.4% | +11.70% |
| Oct 22, 2025Q3 FY25 | $0.17 | $0.16 | −5.9% | $119.6M | $121.4M | +1.5% | −4.16% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $121.5M | $120.6M | $121.4M | $121.0M | $127.0M | $128.9M | |
| Gross profit | $73.9M | $75.2M | $76.0M | $76.9M | −$23.5M | −$19.1M | |
| Operating income | $15.2M | −$41.3M | $25.2M | $8.9M | $13.4M | $19.4M | |
| Net income | −$27.0M | −$88.9M | −$25.9M | −$37.0M | −$48.6M | −$31.4M | |
| Diluted EPS | −$0.16 | −$0.51 | −$0.15 | −$0.21 | −$0.28 | −$0.18 | |
| Gross margin | 60.8% | 62.4% | 62.6% | 63.6% | -18.5% | -14.8% | |
| Operating margin | 12.5% | -34.3% | 20.8% | 7.3% | 10.6% | 15.0% |
Fiscal years (4-quarter sums)FY21 $486.8M · FY22 $506.1M · FY23 $514.7M · FY24 $505.5M · FY25 $484.5M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $41.0M · Total debt $2.65B · Total assets $3.54B · Shareholders' equity $691.2M
Dividends
Last cut to $0.08 from $0.15 in Oct 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 8, 2026 | Jul 8 | Jul 22 | $0.08 | |
| Apr 2, 2026 | Apr 2 | Apr 16 | $0.08 | |
| Jan 7, 2026 | Jan 7 | Jan 22 | $0.08 | |
| Oct 9, 2025 | Oct 9 | Oct 23 | $0.08 | cut from $0.15 |
| Jul 2, 2025 | Jul 2 | Jul 17 | $0.15 | |
| Apr 3, 2025 | Apr 3 | Apr 17 | $0.15 | |
| Jan 8, 2025 | Jan 8 | Jan 23 | $0.15 | |
| Oct 9, 2024 | Oct 9 | Oct 24 | $0.15 |
Ownership
Shares outstanding 172.75M · Float 166.63M · 96.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock Portfolio Management LLC | 9.00M | 5.20% | 13G | Jul 17, 2026 |
| Vanguard Capital Management | 8.70M | 5.01% | 13G | Jul 31, 2026 |
| Vanguard Portfolio Management LLC | 8.65M | 5.01% | 13F | Aug 13, 2026 |
| Mirae Asset Global Etfs Holdings Ltd. | 6.77M | 3.92% | 13F | Aug 14, 2026 |
| State Street Corp | 5.75M | 3.33% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Nov 10, 2025 | Gerard H. Sweeney | director, officer: President and CEO | +88,500 | $3.38 |
| Oct 30, 2025 | James C. Diggs | director | −23,190 | $3.47 |
Peers
- Cousins Properties
Austin's single largest NOI market, directly bordering Uptown ATX
- BXP
Largest US gateway-market office/life-science REIT, DC overlap
- Kilroy Realty
Head-to-head in North Austin office leasing and life-science lab space
- Alexandria Real Estate Equities
National life-science category leader; the aspirational ~25% benchmark
- Piedmont Realty Trust
Minor Washington DC / Northern Virginia office overlap only
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Brandywine Realty Trust | $3.06 | −0.16% | $528.6M | — | — | 1.1 | +1.8% |
| Cousins Properties | $29.40 | −0.15% | $4.85B | 719.8 | 76.7 | 4.7 | +10.7% |
| BXP | $68.89 | −0.61% | $11.05B | 37.3 | 33.8 | 3.1 | +3.1% |
| Kilroy Realty | $36.21 | −0.03% | $4.21B | 25.3 | 86.1 | 3.8 | −6.0% |
| Alexandria Real Estate Equities | $51.98 | +0.81% | $8.99B | — | — | 3.0 | −15.6% |
| Piedmont Realty Trust | $9.54 | −0.05% | $1.19B | — | — | 2.1 | +2.7% |
| Median | 37.3 | 76.7 | 3.1 | +2.7% |