Brandywine Realty Trust BDN
Brandywine Realty Trust (NYSE: BDN) is a prominent, publicly traded Real Estate Investment Trust (REIT) operating across the United States. The company stands as a full-service, integrated real estate enterprise, primarily concentrating its operations in key markets such as Philadelphia, Austin, and Washington, D.C. Brandywine actively acquires, develops, leases, and manages a diverse portfolio of urban, town center, and transit-oriented properties. As of December 31, 2020, this extensive portfolio comprised approximately 175 properties, totaling 24.7 million square feet, a figure which excludes assets held for sale. At its core, Brandywine aims to shape, connect, and inspire the environment around it, achieving this through its specialized expertise, the robust relationships it cultivates, its engagement with the communities it serves, and the lasting legacy it collectively builds.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-02-23 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / AFFO / leverage are from the Q1 2026 earnings release (filed 2026-04-23) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model BDN yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $484.45M | $-179.48M | $176.43M | $137.75M | $116.70M |
| 2024 | $505.52M | $-195.91M | $178.17M | $103.00M | $181.12M |
| 2023 | $514.65M | $-196.79M | $188.80M | $91.29M | $177.27M |
| 2022 | $506.10M | $53.82M | $177.98M | $303.89M | $209.31M |
| 2021 | $486.82M | $12.29M | $178.10M | $255.97M | $190.87M |
| 2020 | $534.85M | $305.53M | $188.28M | $572.20M | $225.81M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-07-08 | 2026-07-08 | 2026-07-22 | 2026-05-28 | $0.08 | Quarterly |
| 2026-04-02 | 2026-04-02 | 2026-04-16 | 2026-02-18 | $0.08 | Quarterly |
| 2026-01-07 | 2026-01-07 | 2026-01-22 | 2025-12-10 | $0.08 | Quarterly |
| 2025-10-09 | 2025-10-09 | 2025-10-23 | 2025-09-26 | $0.08 | Quarterly |
| 2025-07-02 | 2025-07-02 | 2025-07-17 | 2025-05-21 | $0.15 | Quarterly |
| 2025-04-03 | 2025-04-03 | 2025-04-17 | 2025-02-19 | $0.15 | Quarterly |
| 2025-01-08 | 2025-01-08 | 2025-01-23 | 2024-12-10 | $0.15 | Quarterly |
| 2024-10-09 | 2024-10-09 | 2024-10-24 | 2024-09-25 | $0.15 | Quarterly |
| 2024-07-03 | 2024-07-03 | 2024-07-18 | 2024-05-23 | $0.15 | Quarterly |
| 2024-04-03 | 2024-04-04 | 2024-04-18 | 2024-02-14 | $0.15 | Quarterly |
| 2024-01-03 | 2024-01-04 | 2024-01-18 | 2023-12-05 | $0.15 | Quarterly |
| 2023-10-03 | 2023-10-04 | 2023-10-18 | 2023-09-20 | $0.15 | Quarterly |
| 2023-07-05 | 2023-07-06 | 2023-07-20 | 2023-05-25 | $0.19 | Quarterly |
| 2023-04-04 | 2023-04-05 | 2023-04-19 | 2023-02-16 | $0.19 | Quarterly |
| 2023-01-04 | 2023-01-05 | 2023-01-19 | 2022-12-06 | $0.19 | Quarterly |
| 2022-10-05 | 2022-10-06 | 2022-10-20 | 2022-09-13 | $0.19 | Quarterly |
| 2022-07-05 | 2022-07-06 | 2022-07-20 | 2022-05-18 | $0.19 | Quarterly |
| 2022-04-05 | 2022-04-06 | 2022-04-20 | 2022-02-23 | $0.19 | Quarterly |
| 2022-01-04 | 2022-01-05 | 2022-01-19 | 2021-12-07 | $0.19 | Quarterly |
| 2021-10-05 | 2021-10-06 | 2021-10-20 | 2021-09-14 | $0.19 | Quarterly |
| 2021-07-06 | 2021-07-07 | 2021-07-21 | 2021-05-18 | $0.19 | Quarterly |
| 2021-04-06 | 2021-04-07 | 2021-04-21 | 2021-02-24 | $0.19 | Quarterly |
| 2021-01-05 | 2021-01-06 | 2021-01-20 | 2020-12-08 | $0.19 | Quarterly |
| 2020-10-06 | 2020-10-07 | 2020-10-21 | 2020-09-15 | $0.19 | Quarterly |
Coverage (payout of operating cash flow): 47.56%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — BDN
Brandywine Realty Trust: This 10.6% REIT Has Many Problems
Brandywine Realty Trust Announces Expiration of Tender Offer for the 2029 Notes
Brandywine Realty Trust Announces Expiration of Tender Offer for the 2028 Notes
Brandywine Realty Trust Announces Upsize and Extension of Expiration of the Previously Announced Tender Offer for the 2029 Notes
Brandywine Realty Trust Announces Cash Tender Offers
5 Dividend Stocks Wall Street Hates Paying Up To 12.9%
Brandywine Realty Trust (BDN) Q2 2026 Earnings Call Transcript
Brandywine Realty Trust Q2 Earnings Call Highlights
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
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Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.