Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms First Quarter 2023 Earnings Release and Conference Call
February 16 2023 - 5:06PM
Brandywine Realty Trust (NYSE:BDN) announced today that its Board
of Trustees has declared a quarterly cash dividend of $0.19 per
common share and OP Unit payable on April 19, 2023 to holders of
record on April 5, 2023. The quarterly dividend is equivalent to an
annual rate of $0.76 per share.
Conference Call and Audio
Webcast
We will release our first quarter earnings after
the market close on Wednesday, April 19, 2023 and will hold our
first quarter conference call on Thursday, April 20, 2023 at 9:00
a.m. Eastern Time. To access the conference call by phone, please
visit this link here, and you will be provided with dial in
details. A live webcast of the conference call will also be
available on the Investor Relations page of our website at
www.brandywinerealty.com.
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, Austin and Washington, D.C. markets. Organized as a
real estate investment trust (REIT), we own, develop, lease and
manage an urban, town center and transit-oriented portfolio
comprising 163 properties and 23.0 million square feet as of
December 31, 2022 which excludes assets held for sale. Our purpose
is to shape, connect and inspire the world around us through our
expertise, the relationships we foster, the communities in which we
live and work, and the history we build together. For more
information, please visit www.brandywinerealty.com.
Forward-Looking Statements
This press release contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such forward-looking
statements can generally be identified by our use of
forward-looking terminology such as “will,” “strategy,” “expects,”
“seeks,” “believes,” “potential,” or other similar words. Because
such statements involve known and unknown risks, uncertainties and
contingencies, actual results may differ materially from the
expectations, intentions, beliefs, plans or predictions of the
future expressed or implied by such forward-looking statements.
These forward-looking statements, including our 2023 guidance and
the progress of our projects under development, are based upon the
current beliefs and expectations of our management and are
inherently subject to significant business, economic and
competitive uncertainties and contingencies, many of which are
difficult to predict and not within our control. Such risks,
uncertainties and contingencies include, among others: risks
related to the impact of COVID-19 and other potential future
outbreaks of infectious diseases on our financial condition,
results of operations and cash flows and those of our tenants as
well as on the economy and real estate and financial markets;
reduced demand for office space and pricing pressures, including
from competitors, that could limit our ability to lease space or
set rents at expected levels or that could lead to declines in
rent; uncertainty and volatility in capital and credit markets,
including changes that reduce availability, and increase costs, of
capital or that delay receipt of our planned debt financings and
refinancings; the effect of inflation and interest rate
fluctuations, including on the costs of our planned debt financings
and refinancings; the potential loss or bankruptcy of tenants or
the inability of tenants to meet their rent and other lease
obligations; risks of acquisitions and dispositions, including
unexpected liabilities and integration costs; delays in completing,
and cost overruns incurred in connection with, our developments and
redevelopments; disagreements with joint venture partners;
unanticipated operating and capital costs; uninsured casualty
losses and our ability to obtain adequate insurance, including
coverage for terrorist acts; asset impairments; our dependence upon
certain geographic markets; changes in governmental regulations,
tax laws and rates and similar matters; unexpected costs of REIT
qualification compliance; and costs and disruptions as the result
of a cybersecurity incident or other technology disruption. The
declaration and payment of future dividends (both timing and
amount) is subject to the determination of our Board of Trustees,
in its sole discretion, after considering various factors,
including our financial condition, historical and forecast
operating results, and available cash flow, as well as any
applicable laws and contractual covenants and any other relevant
factors. Our Board’s practice regarding declaration of dividends
may be modified at any time and from time to time. Additional
information on factors which could impact us and the
forward-looking statements contained herein are included in our
filings with the Securities and Exchange Commission, including our
Form 10-K for the year ended December 31, 2021. We assume no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events except as required by
law.
Company / Investor Contact:Tom WirthEVP &
CFO610-832-7434 tom.wirth@bdnreit.com
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