Brandywine Realty Trust Announces Third Quarter 2026 Results
Brandywine Realty Trust reported a Q3 net loss of $22.3 million, or $(0.13) per share, with Core FFO of $24.5 million, or $0.14 per diluted share, down from $0.16 a year ago. The company raised its speculative revenue target for the second time this year to $19.5 million and executed $681 million of asset sales versus a $305 million plan, using proceeds to cut debt by $390 million and repurchase $140 million of 2028/2029 bonds plus 4.7 million shares. Net Debt/EBITDA improved to 7.6x from 9.0x last quarter, and One Uptown in Austin is now 97% leased; core portfolio is 89.0% occupied and 90.5% leased.
Key figures
- Revenue
- 125638000
- Guidance
- 2026 Core FFO narrowed to $0.54-$0.56 per diluted share (from FFO $0.53-$0.57); 2026 loss per share adjusted to $(0.64)-$(0.62) from $(0.45)-$(0.41)
- Core ffo
- 24555000
- Core leased
- 90.5%
- Cash on hand
- 313000000
- Payout ratio
- 57.1%
- Ffo per share
- 0.05
- Core occupancy
- 89.0%
- Tenant retention
- 50%
- Buyback price avg
- 3.19
- Impairment charge
- 29100000
- Core ffo per share
- 0.14
- Net debt to ebitda
- 7.6x (vs 9.0x prior quarter)
- Shares repurchased
- 4700000
- Net gain dispositions
- 55689000
- Speculative revenue target
- 19.5 million (raised second time, 11.4% above initial plan)
- Loss on debt extinguishment
- 15400000
- Core ffo prior year per share
- 0.16
AI analysis
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