Brandywine Realty Trust (BDN)
Market Price (2/3/2026): $2.835 | Market Cap: $493.9 MilSector: Real Estate | Industry: Office REITs
Brandywine Realty Trust (BDN)
Market Price (2/3/2026): $2.835Market Cap: $493.9 MilSector: Real EstateIndustry: Office REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30% | Weak multi-year price returns2Y Excs Rtn is -72%, 3Y Excs Rtn is -105% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 450% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.1%, Rev Chg QQuarterly Revenue Change % is -7.9% | |
| Attractive yieldDividend Yield is 11%, FCF Yield is 5.8% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -31% | |
| Low stock price volatilityVol 12M is 32% | Key risksBDN key risks include [1] elevated financial leverage and unprofitability threatening dividend sustainability and [2] significant asset impairments driven by poor performance in its Austin portfolio. | |
| Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include IoT for Buildings, Building Management Systems, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31% |
| Attractive yieldDividend Yield is 11%, FCF Yield is 5.8% |
| Low stock price volatilityVol 12M is 32% |
| Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include IoT for Buildings, Building Management Systems, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -72%, 3Y Excs Rtn is -105% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 450% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.1%, Rev Chg QQuarterly Revenue Change % is -7.9% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -31% |
| Key risksBDN key risks include [1] elevated financial leverage and unprofitability threatening dividend sustainability and [2] significant asset impairments driven by poor performance in its Austin portfolio. |
Qualitative Assessment
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Brandywine Realty Trust (BDN) stock has lost about 15% since 10/31/2025 because of the following key factors:
1. Deteriorating Financial Performance and Dividend Cut. Brandywine Realty Trust reported a net loss of $26.2 million, or $0.15 per share, for Q3 2025, missing analysts' forecasts. Concurrently, the company announced a significant cut in its quarterly dividend from $0.15 to $0.08 per share, which was a substantial reduction that often signals financial strain and can deter income-focused investors. This dividend decrease was formally declared on December 10, 2025. Additionally, the company revised and narrowed its 2025 FFO (Funds From Operations) guidance to $0.51-$0.53 per share, further indicating challenges in its financial outlook.
2. Negative Analyst Sentiment and Downgrades. During the period, several Wall Street analysts expressed a more bearish outlook on Brandywine Realty Trust's stock. KeyCorp downgraded the stock from an "overweight" rating to a "sector weight" in December 2025 as part of its 2026 outlook for the REIT sector, noting that fundamentals across REIT subsectors "remain on uneven paths" and that the economy "appears to be downshifting." Evercore ISI also cut its price target for Brandywine from $5.00 to $4.00 in November 2025, maintaining an "in-line" rating. Furthermore, Citigroup lowered its price target to $2.50 from $3.20 and maintained a "Sell" rating, reflecting a less optimistic view of the company's prospects. The consensus analyst rating for BDN is "Reduce."
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1. Deteriorating Financial Performance and Dividend Cut. Brandywine Realty Trust reported a net loss of $26.2 million, or $0.15 per share, for Q3 2025, missing analysts' forecasts. Concurrently, the company announced a significant cut in its quarterly dividend from $0.15 to $0.08 per share, which was a substantial reduction that often signals financial strain and can deter income-focused investors. This dividend decrease was formally declared on December 10, 2025. Additionally, the company revised and narrowed its 2025 FFO (Funds From Operations) guidance to $0.51-$0.53 per share, further indicating challenges in its financial outlook.
2. Negative Analyst Sentiment and Downgrades. During the period, several Wall Street analysts expressed a more bearish outlook on Brandywine Realty Trust's stock. KeyCorp downgraded the stock from an "overweight" rating to a "sector weight" in December 2025 as part of its 2026 outlook for the REIT sector, noting that fundamentals across REIT subsectors "remain on uneven paths" and that the economy "appears to be downshifting." Evercore ISI also cut its price target for Brandywine from $5.00 to $4.00 in November 2025, maintaining an "in-line" rating. Furthermore, Citigroup lowered its price target to $2.50 from $3.20 and maintained a "Sell" rating, reflecting a less optimistic view of the company's prospects. The consensus analyst rating for BDN is "Reduce."
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Stock Movement Drivers
Fundamental Drivers
The -15.2% change in BDN stock from 10/31/2025 to 2/2/2026 was primarily driven by a -13.3% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.34 | 2.83 | -15.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 496 | 485 | -2.1% |
| P/S Multiple | 1.2 | 1.0 | -13.3% |
| Shares Outstanding (Mil) | 174 | 174 | -0.1% |
| Cumulative Contribution | -15.2% |
Market Drivers
10/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| BDN | -15.2% | |
| Market (SPY) | 2.0% | 5.3% |
| Sector (XLRE) | 0.1% | 53.3% |
Fundamental Drivers
The -25.8% change in BDN stock from 7/31/2025 to 2/2/2026 was primarily driven by a -24.1% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.81 | 2.83 | -25.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 496 | 485 | -2.1% |
| P/S Multiple | 1.3 | 1.0 | -24.1% |
| Shares Outstanding (Mil) | 174 | 174 | -0.1% |
| Cumulative Contribution | -25.8% |
Market Drivers
7/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| BDN | -25.8% | |
| Market (SPY) | 10.3% | 16.3% |
| Sector (XLRE) | -0.3% | 48.4% |
Fundamental Drivers
The -42.1% change in BDN stock from 1/31/2025 to 2/2/2026 was primarily driven by a -38.3% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.88 | 2.83 | -42.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 514 | 485 | -5.5% |
| P/S Multiple | 1.6 | 1.0 | -38.3% |
| Shares Outstanding (Mil) | 173 | 174 | -0.6% |
| Cumulative Contribution | -42.1% |
Market Drivers
1/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| BDN | -42.1% | |
| Market (SPY) | 16.6% | 39.0% |
| Sector (XLRE) | 1.2% | 51.5% |
Fundamental Drivers
The -36.7% change in BDN stock from 1/31/2023 to 2/2/2026 was primarily driven by a -33.4% change in the company's P/S Multiple.| (LTM values as of) | 1312023 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.47 | 2.83 | -36.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 503 | 485 | -3.4% |
| P/S Multiple | 1.5 | 1.0 | -33.4% |
| Shares Outstanding (Mil) | 172 | 174 | -1.5% |
| Cumulative Contribution | -36.7% |
Market Drivers
1/31/2023 to 2/2/2026| Return | Correlation | |
|---|---|---|
| BDN | -36.7% | |
| Market (SPY) | 77.5% | 40.5% |
| Sector (XLRE) | 10.7% | 58.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BDN Return | 19% | -51% | 2% | 17% | -40% | -3% | -59% |
| Peers Return | 23% | -36% | 1% | 15% | -15% | -0% | -22% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| BDN Win Rate | 58% | 25% | 42% | 50% | 33% | 0% | |
| Peers Win Rate | 58% | 37% | 47% | 60% | 43% | 20% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BDN Max Drawdown | -6% | -52% | -40% | -25% | -42% | -5% | |
| Peers Max Drawdown | -7% | -42% | -31% | -15% | -27% | -4% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: BXP, CUZ, HIW, ARE, KRC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/2/2026 (YTD)
How Low Can It Go
| Event | BDN | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -76.5% | -25.4% |
| % Gain to Breakeven | 325.8% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -51.7% | -33.9% |
| % Gain to Breakeven | 106.9% | 51.3% |
| Time to Breakeven | Not Fully Recovered days | 148 days |
| 2018 Correction | ||
| % Loss | -33.5% | -19.8% |
| % Gain to Breakeven | 50.3% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -93.0% | -56.8% |
| % Gain to Breakeven | 1334.1% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to BXP, CUZ, HIW, ARE, KRC
In The Past
Brandywine Realty Trust's stock fell -76.5% during the 2022 Inflation Shock from a high on 1/7/2022. A -76.5% loss requires a 325.8% gain to breakeven.
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About Brandywine Realty Trust (BDN)
Brandywine Realty Trust (NYSE: BDN) is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in the Philadelphia, Austin and Washington, D.C. markets. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio comprising 175 properties and 24.7 million square feet as of December 31, 2020 which excludes assets held for sale. Our purpose is to shape, connect and inspire the world around us through our expertise, the relationships we foster, the communities in which we live and work, and the history we build together.
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Here is a brief analogy for Brandywine Realty Trust (BDN):
- Like **Equity Residential**, but for large office buildings in major cities instead of apartments.
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Brandywine Realty Trust (BDN) Major Products/Services
- Property Leasing: Leasing office and mixed-use real estate space to a diverse range of tenants.
- Property Management: Providing comprehensive management services for its owned properties, including maintenance, security, and tenant relations.
- Real Estate Development: Engaging in the development of new properties or the redevelopment of existing assets to expand its portfolio and enhance value.
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Major Customers of Brandywine Realty Trust (BDN)
Brandywine Realty Trust (BDN) is a real estate investment trust (REIT) that owns, develops, and manages office properties. As such, its customers are primarily other companies, government entities, and institutions that lease its commercial real estate space.
Based on recent investor disclosures (e.g., Q4 2023 earnings and supplemental information), BDN's major customers (tenants) by percentage of annualized base rent include:
- Commonwealth of Pennsylvania (Government entity)
- University of Pennsylvania (Private educational institution)
- Vanguard Group (Private investment management company)
- Cozen O'Connor (Private law firm)
- PricewaterhouseCoopers (PwC) (Private professional services network)
None of these listed top customers are publicly traded companies, so no stock symbols are applicable.
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Gerard H. Sweeney, President, Chief Executive Officer and Trustee
Mr. Sweeney has served as President, Chief Executive Officer, and Trustee of Brandywine Realty Trust since its founding in 1994. Prior to founding Brandywine, he was Vice President at LCOR, Incorporated, a real estate development firm, and served as Financial Vice President and General Partner of the Linpro Company, a predecessor of LCOR, from 1983 to 1994. He is also a co-founder and co-Chief Executive Officer of Bonomo Turkish Taffy LLC.
Thomas E. Wirth, Executive Vice President and Chief Financial Officer
Mr. Wirth was appointed Executive Vice President and Chief Financial Officer in March 2014. He joined Brandywine Realty Trust in December 2009 as Executive Vice President, Portfolio Management and Investments. Before joining Brandywine, he served as Chief Financial Officer and President at Feldman Mall Properties from 2004 to 2009. From 1997 to 2004, he was Chief Financial Officer and Vice President of Finance at SL Green Realty Corporation. Mr. Wirth also held the role of Vice President of Financial Reporting and Analysis for United Waste System, Inc., and spent ten years with Ernst & Young LLP in various positions, including Senior Manager.
George D. Johnstone, Executive Vice President – Operations
Mr. Johnstone joined Brandywine Realty Trust in November 1998. He was appointed Executive Vice President of Operations in March 2014. Prior to this, he served as Senior Vice President of Operations & Asset Management. His earlier roles at Brandywine included Vice President of Operations for the Pennsylvania Region (2004–2005) and the New Jersey Region (2002–2004), and Director of Operations for the New Jersey Region (1998–2002). Before joining Brandywine, Mr. Johnstone was the Regional Controller for Linpro/LCOR Inc.
Daniel Palazzo, Senior Vice President, Chief Accounting Officer, Treasurer
Mr. Palazzo has served as Chief Accounting Officer, Senior Vice President, and Treasurer of Brandywine Realty Trust since January 2015. Before this, he was the Director of Operations in the company's New Jersey Region from 2004 to 2006 and Vice President of Asset Management in the Pennsylvania Region starting in 2006.
H. Jeffrey DeVuono, Executive Vice President and Senior Managing Director - Life Science
Mr. DeVuono serves as Executive Vice President and Senior Managing Director - Life Science for Brandywine Realty Trust.
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Brandywine Realty Trust (BDN) faces several key risks, primarily stemming from the challenging commercial real estate market and its significant financial leverage.
- High Leverage and Financial Sustainability: Brandywine Realty Trust is contending with elevated leverage, with net debt to EBITDA ratios guided between 7.7 and 8.4 times, a level considered high for the REIT sector. This high debt load, coupled with rising interest costs (interest expenses nearly doubled since 2021) and refinancing difficulties, poses a substantial financial risk. The company has been unprofitable, with net losses accelerating over the past five years. This unprofitability and strained cash flows have led to concerns about dividend sustainability, as evidenced by a high cash available for distribution (CAD) payout ratio (176% in Q2 2025) and previous dividend cuts. Further dividend reductions remain a risk if CAD continues to deteriorate.
- Challenges in the Office Real Estate Market: The company's core focus on office and mixed-use properties in major markets like Philadelphia and Austin is exposed to significant headwinds due to evolving work trends, such as remote and hybrid work models. These shifts are leading to ongoing occupancy challenges, revenue pressures, and limited growth opportunities, characterized by declining rents and shrinking Funds From Operations (FFO). Despite some positive leasing activity, the broader market continues to grapple with lower occupancy and muted demand.
- Regional Vulnerabilities and Asset Impairments: Brandywine Realty Trust has experienced specific regional vulnerabilities, particularly in its Austin portfolio, which has shown weak performance due to early lease terminations and negative net absorption. This has led to significant financial write-downs, including a hefty $63.4 million impairment charge on its Austin holdings in Q3 2025, underscoring broader challenges faced by U.S. office landlords.
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The widespread and sustained adoption of remote and hybrid work models among businesses, leading to a structural decline in overall demand for traditional office space. This emerging threat is evidenced by increased office vacancy rates across major markets, companies actively reducing their physical footprints, and a fundamental reassessment of long-term office needs, directly impacting occupancy, rental income, and property valuations for office REITs like Brandywine Realty Trust.
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Brandywine Realty Trust (symbol: BDN) primarily focuses on the acquisition, development, redevelopment, ownership, management, and operation of a portfolio that includes office, life science/lab, residential, and mixed-use properties. The company's core geographical markets are Philadelphia, PA, Washington, D.C., and Austin, TX.
Addressable Market Sizes (U.S. Region):
- Office Real Estate: The U.S. Office Real Estate Market size is estimated at USD 369.58 billion in 2025. It is projected to grow to USD 436.81 billion by 2030, demonstrating a Compound Annual Growth Rate (CAGR) of 3.40% during this period.
- Life Sciences Real Estate: The U.S. Life Sciences Real Estate Market is forecasted to reach USD 3.75 billion in 2025, with an expected increase to USD 4 billion in 2026, and approaching USD 6.76 billion by 2034. This growth reflects a CAGR of 6.76% from 2025 to 2034.
- Mixed-Use and Residential Real Estate: null
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Brandywine Realty Trust (BDN) is anticipated to drive future revenue growth over the next 2-3 years through several key strategies and market dynamics:
- Positive Mark-to-Market Rental Rate Increases: The company has consistently reported positive rental rate increases on new and renewal leases. For example, in the first quarter of 2025, Brandywine experienced positive mark-to-market rental rate increases of 8.9% on an accrual basis and 2.3% on a cash basis. In the third quarter of 2024, the mark-to-market was 14.9% on a GAAP basis and 8.9% on a cash basis, with new leasing mark-to-market at 18% and 2.9% on a GAAP and cash basis, respectively. This trend of securing higher rents on existing and new leases is a direct driver of revenue growth.
- Increased Occupancy and Leasing Activity in Core Portfolio: Brandywine Realty Trust continues to focus on leasing up its existing core portfolio. Management has highlighted strong leasing activity across its markets. For instance, in Q1 2025, new and renewal leases signed totaled 235,000 square feet in their wholly-owned portfolio, with an additional 306,000 square feet of forward new leasing commencing after the quarter. The core portfolio was 86.6% occupied and 89.2% leased in Q1 2025. Continued efforts to fill vacancies and maintain high tenant retention rates (reported at 68% in Q3 2025 with expectations to end the year at the upper end of the range) will contribute to revenue expansion.
- Lease-up and Stabilization of Development Projects: Key development projects, particularly in their strategic markets, are expected to contribute significantly to future revenue as they stabilize and achieve higher occupancy. Examples include the Avira residential development, which was 96% leased by Q1 2025 and anticipated to stabilize later in the same quarter, and Solaris, a residential project in Austin, which was 89% leased in Q2 2025. The One Uptown office development also secured a 100,000 square foot lease in Q2 2025. The successful lease-up of these projects will add new revenue streams.
- Strategic Redeployment of Capital through Dispositions: While dispositions reduce current revenue from sold assets, Brandywine's strategy involves selling non-core assets to redeploy capital into higher-growth opportunities and core markets. The company exceeded its 2024 sales target, with year-to-date gross sales reaching approximately $310 million by the end of 2024. This disciplined approach aims to enhance financial flexibility and maximize portfolio value, ultimately enabling future investments that are expected to generate revenue growth.
- "Flight to Quality" Trend and Market Positioning: Management consistently emphasizes that the company is benefiting from a "flight to quality" trend in the office sector, where tenants are seeking premium, well-located spaces. Brandywine's strong market positioning, particularly in Philadelphia and Austin, where leasing activities have been robust, allows them to capitalize on this demand. This strategic positioning is expected to drive demand for their properties and support rental growth.
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Share Repurchases
- No share buyback activity was reported in Q1, Q2, or Q3 2025.
Share Issuance
- No significant share issuance activity for capital raising was reported, with common shares outstanding approximately 173.7 million as of November 2, 2025.
Outbound Investments
- In October 2025, Brandywine acquired its partner's preferred equity interest in 3025 JFK for $70.5 million, taking full ownership and assuming a $178.0 million construction loan.
- The company made equity contributions totaling $30 million in Q2 2025 and $20 million in Q1 2025 to fund tenant leases in joint ventures and development.
- A hotel development project was initiated in the Radnor mixed-use complex.
Capital Expenditures
- The capital plan for the balance of 2025 totals $215 million.
- Expected capital expenditures for 2025 include $15 million for revenue-maintaining capital and $20 million for revenue-creating capital.
- Capital costs for certain leases, such as a significant lease in Austin, were above the initial budget.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 29.71 |
| Mkt Cap | 4.1 |
| Rev LTM | 1,045 |
| Op Inc LTM | 277 |
| FCF LTM | 207 |
| FCF 3Y Avg | 270 |
| CFO LTM | 491 |
| CFO 3Y Avg | 477 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -0.8% |
| Rev Chg 3Y Avg | 3.0% |
| Rev Chg Q | -2.4% |
| QoQ Delta Rev Chg LTM | -0.6% |
| Op Mgn LTM | 24.2% |
| Op Mgn 3Y Avg | 24.5% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 44.1% |
| CFO/Rev 3Y Avg | 45.5% |
| FCF/Rev LTM | 20.6% |
| FCF/Rev 3Y Avg | 28.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.1 |
| P/S | 3.3 |
| P/EBIT | 9.1 |
| P/E | 4.9 |
| P/CFO | 7.3 |
| Total Yield | 3.9% |
| Dividend Yield | 7.1% |
| FCF Yield 3Y Avg | 7.8% |
| D/E | 1.3 |
| Net D/E | 1.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.1% |
| 3M Rtn | -9.8% |
| 6M Rtn | -7.3% |
| 12M Rtn | -12.2% |
| 3Y Rtn | 0.2% |
| 1M Excs Rtn | -5.3% |
| 3M Excs Rtn | -12.1% |
| 6M Excs Rtn | -18.2% |
| 12M Excs Rtn | -26.3% |
| 3Y Excs Rtn | -65.8% |
Price Behavior
Price Behavior
| Market Price | $2.83 | |
| Market Cap ($ Bil) | 0.5 | |
| First Trading Date | 07/24/1986 | |
| Distance from 52W High | -42.1% | |
| 50 Days | 200 Days | |
| DMA Price | $3.01 | $3.64 |
| DMA Trend | down | down |
| Distance from DMA | -6.1% | -22.2% |
| 3M | 1YR | |
| Volatility | 33.3% | 32.5% |
| Downside Capture | 20.43 | 89.42 |
| Upside Capture | -64.62 | 19.86 |
| Correlation (SPY) | 5.1% | 38.7% |
BDN Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.30 | -0.08 | 0.15 | 0.36 | 0.66 | 1.09 |
| Up Beta | 2.77 | 3.06 | 0.54 | 1.28 | 0.57 | 0.81 |
| Down Beta | 0.44 | 0.61 | 0.79 | 0.62 | 0.91 | 1.17 |
| Up Capture | -69% | -162% | -67% | -31% | 13% | 101% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 8 | 14 | 23 | 53 | 114 | 343 |
| Down Capture | -15% | -45% | 22% | 36% | 92% | 108% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 11 | 24 | 34 | 67 | 126 | 373 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BDN | |
|---|---|---|---|---|
| BDN | -42.1% | 32.5% | -1.64 | - |
| Sector ETF (XLRE) | 1.0% | 16.3% | -0.12 | 51.5% |
| Equity (SPY) | 16.0% | 19.2% | 0.64 | 39.0% |
| Gold (GLD) | 66.9% | 23.7% | 2.11 | -7.1% |
| Commodities (DBC) | 7.0% | 16.3% | 0.23 | 14.6% |
| Real Estate (VNQ) | 2.9% | 16.5% | -0.00 | 55.9% |
| Bitcoin (BTCUSD) | -19.7% | 39.9% | -0.46 | 18.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BDN | |
|---|---|---|---|---|
| BDN | -15.9% | 37.4% | -0.37 | - |
| Sector ETF (XLRE) | 5.0% | 19.0% | 0.17 | 60.2% |
| Equity (SPY) | 14.1% | 17.1% | 0.66 | 46.3% |
| Gold (GLD) | 19.9% | 16.6% | 0.97 | 6.8% |
| Commodities (DBC) | 11.4% | 18.9% | 0.49 | 16.4% |
| Real Estate (VNQ) | 4.5% | 18.8% | 0.15 | 65.3% |
| Bitcoin (BTCUSD) | 20.9% | 57.6% | 0.56 | 20.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BDN | |
|---|---|---|---|---|
| BDN | -6.7% | 34.8% | -0.10 | - |
| Sector ETF (XLRE) | 6.8% | 20.5% | 0.29 | 68.2% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 54.4% |
| Gold (GLD) | 15.0% | 15.3% | 0.81 | 4.9% |
| Commodities (DBC) | 8.3% | 17.6% | 0.39 | 23.0% |
| Real Estate (VNQ) | 5.8% | 20.8% | 0.25 | 73.3% |
| Bitcoin (BTCUSD) | 71.1% | 66.4% | 1.10 | 16.1% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/23/2025 | -4.2% | -10.1% | -12.7% |
| 7/24/2025 | -1.0% | -3.1% | -0.5% |
| 4/23/2025 | 2.1% | 2.6% | 7.2% |
| 2/6/2025 | 0.6% | -0.4% | -7.3% |
| 10/23/2024 | 0.4% | -2.8% | 2.2% |
| 7/24/2024 | -3.7% | 4.3% | 5.8% |
| 4/18/2024 | 3.3% | 3.8% | 13.4% |
| 2/1/2024 | -7.2% | -14.6% | -9.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 13 |
| # Negative | 15 | 15 | 11 |
| Median Positive | 0.8% | 4.0% | 5.8% |
| Median Negative | -2.4% | -3.1% | -9.3% |
| Max Positive | 4.1% | 6.7% | 15.7% |
| Max Negative | -7.2% | -14.6% | -17.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 07/28/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 04/24/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 05/01/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 07/29/2022 | 10-Q |
| 03/31/2022 | 04/27/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sweeney, Gerard H | President and CEO | Direct | Buy | 11122025 | 3.38 | 88,500 | 298,882 | 10,274,152 | Form |
| 2 | Diggs, James C | Direct | Sell | 11032025 | 3.47 | 23,190 | 80,469 | 446,492 | Form | |
| 3 | Desroches, Reginald | Direct | Sell | 6102025 | 4.55 | 15,000 | 68,250 | 384,320 | Form | |
| 4 | Sweeney, Gerard H | President and CEO | Direct | Buy | 5022025 | 4.07 | 61,576 | 250,614 | 12,002,804 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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