Last10K.com

Brandywine Operating Partnership, L.P. (1060386) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Brandywine Operating Partnership, L.P.

CIK: 1060386

Exhibit 99.1
brt003logorgb.jpg
 
Company / Investor Contact:
Tom Wirth
EVP & CFO
610-832-7434 
tom.wirth@bdnreit.com




Brandywine Realty Trust Announces Third Quarter 2019 Results,
Narrows 2019 Guidance and Provides Initial 2020 Guidance


Philadelphia, PA, October 17, 2019
- Brandywine Realty Trust (NYSE:BDN) today reported its financial and operating results for the three and nine-month periods ended September 30, 2019, narrowed full year 2019 guidance and introduced 2020 earnings guidance.
Management Comments
“We are encouraged by the continued execution of our 2019 business plan during the third quarter,” stated Gerard H. Sweeney, President and Chief Executive Officer of Brandywine Realty Trust. “We are experiencing strong market conditions and continue to achieve our operating plan metrics. In addition, we took advantage of the public debt markets to raise $214 million of unsecured bonds at a weighted average interest rate of 3.0% and weighted average maturity of 7.5 years. A majority of the proceeds were used to pay-off the outstanding balance on our line of credit. We are narrowing our 2019 FFO guidance from $1.40 to $1.44 per share to $1.41 to $1.43 per share. We are also introducing our 2020 FFO guidance range of $1.41 to $1.51 per share. Our 2020 guidance, at the midpoint, represents a comparable 3% annual FFO growth rate.”
Third Quarter Highlights
Financial Results
Net income available to common shareholders; $6.7 million, or $0.04 per diluted share.
Funds from Operations (FFO); $64.0 million, or $0.36 per diluted share.
Portfolio Results
Core Portfolio: 93.2% occupied and 95.5% leased.
New and Renewal Leases Signed: 577,000 square feet.
Tenant Retention Ratio: 72%.
Rental Rate Mark-to-Market Increase: 9.3% on a GAAP basis and 4.2% on a cash basis.
2019 Business Plan Revisions
Disposition Activity: $36.4 million.
2020 Business Plan and Guidance Introduced
Net income: $0.24 to $0.34 per diluted share.
FFO: $1.41 to $1.51 per diluted share, representing a 3% growth rate at guidance midpoint.
Rental Rate Mark-to-Market Range: 8-10% cash and 17-19% GAAP.




The following information was filed by Brandywine Operating Partnership, L.P. on Friday, October 18, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Brandywine Operating Partnership, L.P.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Brandywine Operating Partnership, L.P..

Continue

Assess how Brandywine Operating Partnership, L.P.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Brandywine Operating Partnership, L.P.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Beneficiaries' Equity
Consolidated Statements Of Beneficiaries' Equity (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Partners' Equity
Consolidated Statements Of Partners' Equity (Parenthetical)
Basis Of Presentation
Basis Of Presentation (Policies)
Basis Of Presentation (Tables)
Basis Of Presentation (Textual) (Details)
Basis Of Presentation - Balance Sheet (Details)
Basis Of Presentation - Schedule Of Allocation Of Lease Revenue Recognized Between Fixed Contractual Payments And Variable Lease Payments (Details)
Basis Of Presentation - Schedule Of Lease Payments On Non-Cancellable Leases (Details)
Basis Of Presentation - Schedule Of Lease Payments On Non-Cancellable Leases Under Topic 840 (Details)
Basis Of Presentation - Statement Of Beneficiaries' Equity (Details)
Basis Of Presentation - Statement Of Partners' Equity (Details)
Basis Of Presentation - Summary Of Operating Lease Cost Recognized Through Property Operating Expenses (Details)
Beneficiaries Equity Of The Parent Company
Beneficiaries Equity Of The Parent Company (Tables)
Beneficiaries Equity Of The Parent Company (Textual) (Details)
Beneficiaries Equity Of The Parent Company - Number Of Shares And Net Income Used To Calculate Basic And Diluted Earnings Per Share (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies (Textual) (Details)
Commitments And Contingencies - Lease Payments On Non-Cancelable Leases (Details)
Debt Obligations
Debt Obligations (Tables)
Debt Obligations (Textual) (Details)
Debt Obligations - Aggregate Scheduled Principal Payments Of Debt Obligation, Excluding Amortization Of Discounts And Premiums (Details)
Debt Obligations - Consolidated Debt Obligations Outstanding (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Details)
Derivative Financial Instruments (Tables)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments (Textual) (Details)
Fair Value Of Financial Instruments - Financial Instruments For Which Estimates Of Fair Value Differ From Carrying Amounts (Details)
Intangible Assets And Liabilities
Intangible Assets And Liabilities (Tables)
Intangible Assets And Liabilities - Annual Amortization Of Intangible Assets, Liabilities (Details)
Intangible Assets And Liabilities - Intangible Assets And Liabilities (Details)
Investment In Unconsolidated Real Estate Ventures
Investment In Unconsolidated Real Estate Ventures (Tables)
Investment In Unconsolidated Real Estate Ventures (Textual) (Details)
Investment In Unconsolidated Real Estate Ventures - Summary Of Financial Position Of Real Estate Ventures (Details)
Investment In Unconsolidated Real Estate Ventures - Summary Of Results Of Operations Of Real Estate Ventures With Interests (Details)
Limited Partners' Non-Controlling Interests In The Parent Company
Limited Partners' Non-Controlling Interests In The Parent Company (Details)
Organization Of The Parent Company And The Operating Partnership
Organization Of The Parent Company And The Operating Partnership (Tables)
Organization Of The Parent Company And The Operating Partnership (Textual) (Details)
Organization Of The Parent Company And The Operating Partnership - Summary Of Core Portfolio Of Operating Properties And Excludes Development, Redevelopment And Held For Sale (Details)
Partners Equity Of The Operating Partnership
Partners Equity Of The Operating Partnership (Tables)
Partners Equity Of The Operating Partnership (Textual) (Details)
Partners Equity Of The Operating Partnership - Number Of Units And Net Income Used To Calculate Basic And Diluted Earnings Per Common Partnership Unit (Details)
Real Estate Investments
Real Estate Investments (Tables)
Real Estate Investments (Textual) (Details)
Real Estate Investments - Gross Carrying Value Of Operating Properties (Details)
Real Estate Investments - Summary Of Land Parcels Sold (Details)
Segment Information
Segment Information (Tables)
Segment Information (Textual) (Details)
Segment Information - Net Operating Income Of Company's Reportable Segments (Additional Information) (Details)
Segment Information - Net Operating Income Of Company's Reportable Segments (Details)
Segment Information - Real Estate Investments, At Cost Of Company's Reportable Segments (Additional Information) (Details)
Segment Information - Real Estate Investments, At Cost Of Company's Reportable Segments (Details)
Segment Information - Reconciliation Of Consolidated Net Income To Consolidated Noi (Details)
Segment Information - Unconsolidated Real Estate Ventures Of Company's Reportable Segments (Additional Information) (Details)
Segment Information - Unconsolidated Real Estate Ventures Of Company's Reportable Segments (Details)
Subsequent Events
Subsequent Events (Details)
CIK: 1060386
Form Type: 10-Q Quarterly Report
Accession Number: 0000790816-19-000007
Submitted to the SEC: Thu Oct 24 2019 3:39:12 PM EST
Accepted by the SEC: Thu Oct 24 2019
Period: Monday, September 30, 2019
Industry: Real Estate Investment Trusts

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/1060386/0000790816-19-000007.htm