NYSE$BDN
Brandywine Realty Trust · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Reported financial and operating results for the first quarter of 2022.
Brandywine Realty Trust reported a net income of $5.9 million, or $0.03 per diluted share, and FFO of $60.3 million, or $0.35 per diluted share. The company experienced increased physical occupancy and traffic, achieving 84% of its speculative revenue target at the midpoint of its range. Rental rate mark-to-market increased 20.4% and 12.9% on an accrual and cash basis, respectively.
- Net income allocated to common shareholders was $5.9 million, or $0.03 per diluted share.
- Funds from Operations (FFO) totaled $60.3 million, or $0.35 per diluted share.
- Core Portfolio was 89.4% occupied and 92.4% leased.
- Rental rate mark-to-market increased 20.4% on an accrual basis and 12.9% on a cash basis.
Headline financials
Revenue & EPS history
Brandywine · Revenue · Quarterly
$128M
Revenue by segment
Brandywine · $119M total across 2 segments · Q3 2022
- Rents$117M—99.0%
- Other Revenue$1.22M—1.0%
Forward guidance
Brandywine Realty Trust is maintaining its 2022 earnings per share guidance of $0.17 - $0.25 per diluted share and maintaining its 2022 FFO guidance of $1.37 - $1.45 per diluted share.
Tailwinds
- Speculative Revenue Target: $34.0 - $36.0 million, as of April 19, 2022, $29.4 million achieved from a leasing plan of 2.0 million square feet, 1.4 million square feet achieved
- Year-end Core Occupancy Range: 91-93%
- Year-end Core Leased Range: 92-94%
- Tenant Retention Rate Range: 58-60%
- Rental Rate Growth (accrual): 16-18%
Headwinds
- Rental Rate Growth (cash): 8-10%
- Same Store (accrual) NOI Range: 0-2%
- Same Store (cash) NOI Range: 0-2%
- Property Acquisition Activity: None
- Property Sales Activity: None
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-0.1%
Avg return
Earnings day
-0.4%
Avg return
5 days after
-0.7%
Avg return
30 days after
43%
30 / 69 earnings
Positive
+7.9%
Q4 2022
Best reaction
-15.3%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.4% | +2.4% | +2.0% | |
| Q4 2025 | +5.4% | +14.5% | +8.5% | |
| Q3 2025 | -4.2% | -7.3% | -10.1% | |
| Q2 2025 | -0.7% | -1.0% | +12.1% | |
| Q1 2025 | +2.1% | +4.1% | +5.4% | |
| Q4 2024 | -5.0% | -7.6% | -12.9% | |
| Q3 2024 | -15.3% | -19.1% | -13.4% | |
| Q2 2024 | -2.1% | +6.1% | +6.7% | |
| Q1 2024 | +0.5% | +5.5% | +14.0% | |
| Q4 2023 | -12.0% | -15.8% | -14.0% | |
| Q3 2023 | -1.8% | -2.8% | +4.9% | |
| Q2 2023 | +5.6% | +7.3% | +1.9% | |
| Q1 2023 | +0.0% | -3.6% | -12.3% | |
| Q4 2022 | +7.9% | +2.7% | -10.4% | |
| Q3 2022 | +3.6% | +5.9% | +6.4% | |
| Q2 2022 | -2.7% | -0.7% | -13.0% | |
| Q1 2022 | +0.6% | -2.0% | -16.8% | |
| Q4 2021 | -0.5% | +0.0% | +4.1% | |
| Q3 2021 | -2.2% | -4.3% | +4.1% | |
| Q2 2021 | -0.1% | -0.1% | +0.1% | |
| Q1 2021 | -0.5% | +1.7% | +5.5% | |
| Q4 2020 | +0.7% | +3.4% | +14.1% | |
| Q3 2020 | -0.9% | -6.2% | +9.6% | |
| Q2 2020 | +5.0% | +2.2% | +3.2% | |
| Q1 2020 | +3.8% | +10.1% | -1.7% | |
| Q4 2019 | -3.1% | -2.4% | -15.6% | |
| Q3 2019 | +0.3% | +1.0% | +5.2% | |
| Q2 2019 | +1.0% | +2.4% | +0.1% | |
| Q1 2019 | -1.5% | -2.0% | -2.9% | |
| Q4 2018 | -0.6% | +1.6% | +2.8% | |
| Q3 2018 | -2.2% | -3.5% | -2.8% | |
| Q2 2018 | -1.8% | -2.8% | +2.6% | |
| Q1 2018 | +0.3% | +1.1% | +1.0% | |
| Q4 2017 | -0.6% | -2.8% | -8.5% | |
| Q3 2017 | -2.8% | -2.6% | -3.0% | |
| Q2 2017 | -2.5% | -2.5% | -4.1% | |
| Q1 2017 | -0.6% | +0.4% | +2.4% | |
| Q4 2016 | -1.4% | -0.6% | +2.2% | |
| Q3 2016 | -0.4% | +0.8% | -2.6% | |
| Q2 2016 | -0.5% | -0.5% | -1.1% | |
| Q1 2016 | +2.4% | — | — | |
| Q4 2015 | -1.2% | — | — | |
| Q3 2015 | +4.2% | — | — | |
| Q2 2015 | +0.6% | — | — | |
| Q1 2015 | -0.7% | — | — | |
| Q4 2014 | -0.5% | — | — | |
| Q3 2014 | +3.8% | — | — | |
| Q2 2014 | +0.4% | — | — | |
| Q1 2014 | +2.2% | — | — | |
| Q4 2013 | -1.1% | — | — | |
| Q3 2013 | +2.6% | — | — | |
| Q2 2013 | -0.5% | — | — | |
| Q1 2013 | +0.7% | — | — | |
| Q4 2012 | +0.8% | — | — | |
| Q3 2012 | -3.4% | — | — | |
| Q2 2012 | +3.5% | — | — | |
| Q1 2012 | +0.8% | — | — | |
| Q4 2011 | -0.5% | — | — | |
| Q3 2011 | +6.4% | — | — | |
| Q2 2011 | -11.1% | — | — | |
| Q1 2010 | -1.0% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q4 2008 | +4.0% | — | — | |
| Q4 2010 | +4.0% | — | — | |
| Q3 2009 | +0.1% | — | — | |
| Q3 2010 | +0.1% | — | — | |
| Q2 2010 | -0.3% | — | — | |
| Q4 2009 | -0.3% | — | — | |
| Q2 2009 | -0.3% | — | — |
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