Brandywine Realty Trust: 3Q Earnings Snapshot
PHILADELPHIA (AP) _ Brandywine Realty Trust (BDN) on Thursday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Philadelphia, said it had funds from operations of $64 million, or 36 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 36 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $6.7 million, or 4 cents per share.
The real estate investment trust posted revenue of $145.3 million in the period. Its adjusted revenue was $139.2 million, which beat Street forecasts. Five analysts surveyed by Zacks expected $138.3 million.
Brandywine Realty Trust expects full-year funds from operations to be $1.41 to $1.43 per share.
The company’s shares have increased 14% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.70, a climb of roughly 1% in the last 12 months.