Brandywine Realty Trust: Q2 Earnings Snapshot

By AP News - Jul 23, 2024, 04:37 PM ET

Last Updated - Jul 23, 2024, 04:37 PM EDT

Brandywine Realty Trust: Q2 Earnings Snapshot

PHILADELPHIA (AP) — PHILADELPHIA (AP) — Brandywine Realty Trust (BDN) on Tuesday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.

The Philadelphia-based real estate investment trust said it had funds from operations of $38 million, or 22 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 22 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $29.9 million, or 17 cents per share.

The real estate investment trust posted revenue of $125.3 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $127.3 million.

Brandywine Realty Trust expects full-year funds from operations to be 91 cents to 96 cents per share.

In the final minutes of trading on Tuesday, the company's shares hit $4.86. A year ago, they were trading at $4.65.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BDN at https://www.zacks.com/ap/BDN

Article Source