NYSE$BDN

Brandywine Realty Trust · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

Brandywine Realty Trust reported Q4 2025, net loss of $36.9M, diluted EPS of $-0.21.

For Q4 2025, Brandywine Realty Trust reported a net loss of $36.9M, diluted EPS was $-0.21. Management discusses segment performance, capital allocation, and macro risks in the quarterly filing.

  • Net loss $36.9M.
  • Diluted EPS $-0.21.
  • Brandywine Realty Trust MD&A covers liquidity, credit, and operating priorities.

Headline financials

Total Revenue

$121M

Previous: $122M-0.8%
EPS (adj)

-$0.21

Previous: $0.17-223.5%
Tenant Retention

54.0%

No prior period
Mark-to-Market (Accrual)

20.9%

No prior period
Mark-to-Market (Cash)

10.0%

No prior period
Core Occupancy

88.3%

No prior period
Core Leased

90.4%

No prior period
Same-Store NOI (Accrual)

2.4%

No prior period
Same-Store NOI (Cash)

3.2%

No prior period
FFO Payout Ratio

100.0%

No prior period
Net Income

-$36.9M

Previous: -$43.2M+14.5%
Operating Income

$27.6M

Previous: $23.4M+18.1%

Revenue & EPS history

Brandywine · Revenue · Quarterly

$121M

Q4 2025-0.8%vs Q4 2024
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Revenue by segment

Brandywine · $119M total across 2 segments · Q3 2022

  • Rents
    $117M
  • Other Revenue
    $1.22M

Forward guidance

REIT outlook focuses on FFO, occupancy, leverage reduction, and asset recycling.

Tailwinds

  • Liquidity and undrawn credit.
  • Asset sale proceeds for deleveraging.
  • Selective share repurchases.

Headwinds

  • Office market pressure.
  • Interest rate and refinancing risk.
  • Tenant credit stress.

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 Q4 2025

Historical avgQ4 2025

-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

Earnings price reactions
QuarterReport dateReaction (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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