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Mar 31, 2025
Brandywine Q1 2025 Earnings Report
Brandywine Realty Trust reported its financial and operating results for the first quarter ended March 31, 2025, showing a net loss attributable to common shareholders of ($27.4) million and FFO of $24.7 million.
Key Takeaways
Brandywine Realty Trust reported a net loss attributable to common shareholders of ($27.4) million, or ($0.16) per share, for the first quarter of 2025. Funds from Operations (FFO) available to common shareholders totaled $24.7 million, or $0.14 per diluted share. The company achieved 92% of its speculative revenue target and narrowed its 2025 FFO guidance.
Net loss attributable to common shareholders was ($27.4) million, or ($0.16) per share.
Funds from Operations (FFO) available to common shareholders was $24.7 million, or $0.14 per diluted share.
Core Portfolio occupancy was 86.6% and leased 89.2%.
Rental rate mark-to-market increased 8.9% on an accrual basis and 2.3% on a cash basis.
Revenue by Segment
Forward Guidance
Brandywine Realty Trust is adjusting its 2025 loss per share guidance to $(0.56) - $(0.46) per share and its 2025 FFO guidance to $0.61 - $0.71 per diluted share.
Positive Outlook
- Year-end Core Occupancy Range: 88-89%.
- Year-end Core Leased Range: 89-90%.
- Rental Rate Mark-to-Market (accrual): 3-4%.
- Speculative Revenue Target: $27.0 - $28.0 million, with $25.4 million achieved.
- Repaid $70 million unsecured term loan on scheduled February 2025 maturity date.
Challenges Ahead
- Rental Rate Mark-to-Market (cash): (3)-(2)%.
- Same Store (accrual) NOI Range: (1)-1%.
- Same Store (cash) NOI Range: 1-3%.
- Property Acquisition Activity: None.
- Share Buyback Activity: None.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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