Brandywine Narrows 2026 Core FFO to $0.54–$0.56 as Asset Sales Cut Leverage
BDN is trading near its 52-week low of $2.47 (15% above the low) on elevated volume (2.7× avg).
Summary
Q3 Core FFO came in at $0.14 per diluted share, down from $0.16 a year earlier, and management narrowed full-year 2026 Core FFO guidance to $0.54–$0.56. The balance sheet is the real story: $681M of asset sales are done, well past the $305M target, pulling net debt/EBITDA down to 7.6x from 9.0x. They also retired $140M of bonds at 8.67%, a $15.4M early extinguishment charge excluded from Core FFO. The $0.08 quarterly dividend is covered at a 57% payout, so the distribution looks safe for now even with softer core earnings.
At the time of this announcement, BDN was trading at $2.83 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $471.4M. The 52-week trading range was $2.47 to $3.89. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.