Shares of Brandywine Realty Trust (NYSE: BDN) plunged 5.42% in pre-market trading on Tuesday, October 23, following the company's disappointing third-quarter earnings report and lowered full-year guidance.
The real estate investment trust reported a quarterly adjusted loss of $0.96 per share for the quarter ended January 1, significantly missing analysts' estimates of $0.05 earnings per share. The company also posted a quarterly net loss of $165.5 million, underperforming compared to the same period last year.
While Brandywine's revenue rose 1.9% year-over-year to $131.78 million, it fell short of Wall Street's expectations of $133.23 million. The company attributed the revenue miss to ongoing challenges in certain markets and headwinds affecting the commercial real estate sector.
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