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Dec 31, 2019
Brandywine Q4 2019 Earnings Report
Brandywine Realty Trust reported financial results for Q4 2019 and maintained 2020 guidance.
Key Takeaways
Brandywine Realty Trust reported a net income of $16.7 million, or $0.09 per diluted share, and FFO of $67.0 million, or $0.38 per diluted share, for the fourth quarter of 2019. The company's core portfolio was 93.0% occupied and 95.5% leased. They signed new and renewal leases for 567,000 square feet.
Net income allocated to common shareholders was $16.7 million, or $0.09 per diluted share.
Funds from Operations (FFO) totaled $67.0 million, or $0.38 per diluted share.
Core Portfolio was 93.0% occupied and 95.5% leased.
Signed new and renewal leases for 567,000 square feet.
Forward Guidance
Brandywine Realty Trust revised their 2020 net income guidance from $0.24 to $0.34 per diluted share to $0.26 to $0.36 per diluted share and maintained their 2020 FFO guidance of $1.41 - $1.51 per diluted share.
Positive Outlook
- Core Occupancy improving to a range of 94-95% by year-end 2020 and 95-96% leased
- 17-19% GAAP increase in overall lease rates
- 8-10% cash increase in overall lease rates
- 2-4% increase in 2020 same store GAAP NOI
- 0-2% increase in 2020 same store cash NOI
Historical Earnings Impact
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Avg. Return Before/After Earnings
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