BDN PRESS-RELEASE SEC Filing Analysis

Latest settled — T+20d

BDN ▲ +1.02% at T+20d

SHORT call ✗ call lost -1.02% · α vs SPY +3.61% · entry $2.93 → $2.96

Next anchor: T+60d in 5w

Currently $3.24 · -10.58% from $2.93 entry (call sign-flipped)

Entry anchored
Apr 22, 03:59 PM ET
via Databento tick

T+1d

+4.44%

call -4.44% · α -3.65%

$3.06

settled 7w ago

T+5d

+2.39%

call -2.39% · α -0.91%

$3.00

settled 6w ago

T+20d

+1.02%

call -1.02% · α +3.61%

$2.96

settled 24d ago

T+60d

—

call — · α —

—

in 5w

Price Chart

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Executive Summary

Brandywine Realty Trust reported Q1 2026 FFO of $0.11 per share, missing the $0.11 Street consensus, driven by a $11.9M non-cash impairment charge. The company lowered its full-year 2026 loss per share guidance to $(0.76)–$(0.70), signaling worsening fundamentals, despite narrowing FFO guidance. Same-store NOI growth was minimal at 0.8% (accrual basis), and speculative revenue remains below target.

Actionable Insight

Stock likely to react negatively due to guidance downgrade and GAAP loss widening, despite in-line FFO. Monitor upcoming property dispositions and financing activity for liquidity signals. The 72.7% FFO payout ratio remains sustainable but offers no near-term dividend growth.

Key Facts

FFO per diluted share: $0.11 (in line with $0.11 consensus)
GAAP loss per share: $(0.28), widened from $(0.16) in Q1 2025
Recorded $11.9M non-cash impairment charge ($0.07 per share)
Lowered 2026 loss per share guidance to $(0.76)–$(0.70) from $(0.66)–$(0.58)
Same-store NOI up 0.8% on accrual basis, 3.3% on cash basis
Speculative revenue target: $17.0–$18.0M; $16.4M achieved

Financial Impact

Increased losses and lowered guidance indicate deteriorating fundamentals, partially offset by in-line FFO. Impairment charge reflects asset devaluation pressures.

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Risk Factors

Continued office sector weakness impacting occupancy and rental rates
Further asset impairments if market conditions deteriorate
Refinancing risk on $178M construction loan due July 2026

Market Snapshot

Exchange

NYSE

Sector

Real Estate Investment Trusts

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3279400

5 reports for BDN

T+1T+5T+20T+60

Filters

Reports for BDN — sortable, filterable
	Type				Now
Jun 11, 2026 2d ago	Institutional Cluster BEARISH ★ 4/10	$3.22 awaiting T+5	awaiting T+5	—	$3.24 (−0.62%)
May 28, 2026 15d ago	Press Release NEUTRAL ★ 2/10	$3.06 $3.05	▼ −0.33%	▼ −0.28%	$3.24 (+5.88%)
Apr 22, 2026 7w ago	Press Release BEARISH ★ 7/10	$2.93 $3.00	▼ −2.39%	▼ −0.91%	$3.24 (−10.58%)
Apr 7, 2026 9w ago	DEFA14A NEUTRAL ★ 2/10	$2.65 $2.81	▲ +6.04%	▲ +2.52%	$3.24 (+22.26%)
Mar 24, 2026 11w ago	EFFECT NEUTRAL ★ 3/10	$2.61 $2.63	▲ +0.74%	▲ +1.17%	$3.24 (+24.20%)

US Market Status

Market Closed — Opens Mon (49h 39m)

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