Brandywine Realty Trust (NYSE:BDN) Sees Significant Drop in Short Interest

Brandywine Realty Trust (NYSE:BDN) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 13,570,000 shares, a drop of 5.5% from the October 15th total of 14,360,000 shares. Currently, 8.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,900,000 shares, the short-interest ratio is currently 7.1 days.

Brandywine Realty Trust Stock Up 0.5 %

BDN opened at $4.16 on Friday. The company has a 50 day moving average of $4.20 and a 200 day moving average of $4.36. Brandywine Realty Trust has a 12 month low of $3.42 and a 12 month high of $7.25. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 1.41.

Brandywine Realty Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Wednesday, October 4th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 14.42%. The ex-dividend date was Tuesday, October 3rd. Brandywine Realty Trust’s dividend payout ratio (DPR) is presently -857.14%.

Analysts Set New Price Targets

Several equities research analysts have commented on BDN shares. KeyCorp started coverage on shares of Brandywine Realty Trust in a research note on Monday, September 11th. They issued an “overweight” rating and a $6.00 price objective for the company. StockNews.com assumed coverage on shares of Brandywine Realty Trust in a research report on Thursday, October 5th. They set a “sell” rating for the company. Evercore ISI reduced their target price on shares of Brandywine Realty Trust from $6.00 to $5.00 in a research report on Monday, October 9th. Finally, TheStreet downgraded shares of Brandywine Realty Trust from a “c” rating to a “d+” rating in a research report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Brandywine Realty Trust presently has a consensus rating of “Hold” and an average target price of $5.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BDN. JPMorgan Chase & Co. boosted its holdings in Brandywine Realty Trust by 105.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,628,459 shares of the real estate investment trust’s stock worth $58,722,000 after buying an additional 6,487,744 shares during the period. Norges Bank bought a new position in Brandywine Realty Trust in the 4th quarter valued at $11,302,000. Federated Hermes Inc. boosted its holdings in Brandywine Realty Trust by 1,463,187.0% in the 1st quarter. Federated Hermes Inc. now owns 1,682,780 shares of the real estate investment trust’s stock valued at $7,960,000 after purchasing an additional 1,682,665 shares during the period. Millennium Management LLC boosted its holdings in Brandywine Realty Trust by 438.5% in the 2nd quarter. Millennium Management LLC now owns 1,992,114 shares of the real estate investment trust’s stock valued at $19,204,000 after purchasing an additional 1,622,170 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Brandywine Realty Trust by 1,832.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,484,966 shares of the real estate investment trust’s stock valued at $6,742,000 after purchasing an additional 1,408,138 shares during the period. 92.53% of the stock is owned by institutional investors.

About Brandywine Realty Trust

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 and Austin markets. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio comprising 160 properties and 22.6 million square feet as of September 30, 2023 which excludes assets held for sale.