Key Developments: Brandywine Realty Trust (BDN)
15.95USD
21 May 2013
$0.08 (+0.50%)
$15.80
$15.88
$15.98
$15.84
342,568
1,808,254
$15.98
$10.79
Latest Key Developments (Source: Significant Developments)
Brandywine Realty Trust Lowers FY 2013 FFO Guidance
Brandywine Realty Trust announced that as a result and specifically reflecting the dilution from the unplanned equity offering, it has revised FFO guidance for fiscal 2013 to a range of $1.35 to $1.42 per diluted share versus the prior range of $1.41 to $1.48. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $1.42 for fiscal 2013. Full Article
Brandywine Realty Trust Declares Quarterly Dividend And Distribution
Brandywine Realty Trust announced that on March 13, 2013, Board of Trustees declared a quarterly dividend of $0.15 per common share that was paid on April 19, 2013 to shareholders of record as of April 5, 2013. The Company Board also declared a quarterly dividend distribution of $0.43125 for each 6.90% Series E Cumulative Redeemable Preferred Share that was paid on April 15, 2013 to holders of record as of March 30, 2013. Full Article
Brandywine Realty Trust Announces Completion Of Common Share Offering
Brandywine Realty Trust announced that it has completed the previously announced public offering of 12,650,000 of its common shares, including 1,650,000 shares issued and sold to the underwriters pursuant to the full exercise of the underwriters' option to purchase additional shares. The Company realized net proceeds of approximately $181.7 million which it has contributed to the Operating Partnership in exchange for partnership units of the Operating Partnership. The Operating Partnership intends to use the contributed funds for working capital, capital expenditures and other general corporate purposes, which may include acquisitions, developments and the repayment, repurchase and refinancing of debt. BofA Merrill Lynch and Citigroup acted as joint book-running managers for the offering. Full Article
Brandywine Realty Trust Announces Full Exercise of Underwriters' Option to Purchase Additional Shares
Brandywine Realty Trust announced that the underwriters of its recent public offering of 11,000,000 common shares have fully exercised their option to purchase an additional 1,650,000 common shares from the Company. As a result, the Company will issue a total of 12,650,000 shares in the offering. The offering is expected to close on or about April 10, 2013, subject to customary closing conditions, and is expected to provide gross proceeds to the Company of approximately $186,000,000 before underwriting discounts and commissions and estimated offering expenses payable by us. The Company intends to contribute the net proceeds of this offering to the Operating Partnership in exchange for partnership units of the Operating Partnership. The Operating Partnership intends to use the net proceeds from this offering for working capital, capital expenditures and other general corporate purposes, which may include acquisitions, developments and repayment, repurchase and refinancing of debt. BofA Merrill Lynch and Citigroup are acting as the joint book-running managers and have offered the shares at prevailing market prices or otherwise from time to time through the NYSE, the over-the-counter market, negotiated transactions or otherwise. Full Article
Brandywine Realty Trust Announces Pricing of Upsized Public Offering of Common Shares
Brandywine Realty Trust announced that it has increased its previously announced underwritten public offering from 10,000,000 to 11,000,000 common shares and has priced it for expected gross proceeds of $161,700,000 before underwriting discounts and commissions and estimated offering expenses payable by us. The Company has also granted the underwriters a 30-day option to purchase up to 1,650,000 additional common shares. The offering is expected to close on or about April 10, 2013. BofA Merrill Lynch and Citigroup are acting as the joint book-running managers for the offering. The Company intends to contribute the net proceeds of this offering to the Operating Partnership in exchange for partnership units of the Operating Partnership. The Operating Partnership intends to use the net proceeds for working capital, capital expenditures and other general corporate purposes, which may include acquisitions, developments and repayment, repurchase and refinancing of debt. Full Article
Brandywine Realty Trust Announces Commencement Of Public Offering Of Common Shares
Brandywine Realty Trust announced that it has commenced a public offering of 10,000,000 common shares. In addition, the Company expects to grant to the underwriters for the public offering an option for 30 days to purchase up to 1,500,000 additional common shares. BofA Merrill Lynch and Citigroup will serve as the joint book-running managers for the offering and propose to offer the shares at prevailing market prices or otherwise from time to time through the NYSE, the over-the-counter market, negotiated transactions or otherwise. The Company intends to contribute the net proceeds of this offering to the Operating Partnership in exchange for partnership units of the Operating Partnership. The Operating Partnership intends to use the net proceeds for working capital, capital expenditures and other general corporate purposes, which may include acquisitions, developments and repayment, repurchase and refinancing of debt. Full Article
Brandywine Realty Trust Raises FY 2013 FFO Guidance
Brandywine Realty Trust announced that it increasing its previously issued 2013 FFO guidance to now be in a range of $1.41 to $1.48 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $1.44 for fiscal 2013. Full Article
Brandywine Realty Trust Announces Sale Of Princeton Pike Corporate Center
Brandywine Realty Trust announced that it has entered into a definitive agreement to sell Princeton Pike Corporate Center, an eight-building, 800,546 square foot office park located in Lawrenceville, New Jersey, for $121.0 million or $151 per square foot. The sale is expected to close within the next thirty days with the net proceeds used to retire existing debt including balances under unsecured revolving credit facility. Full Article
Brandywine Realty Trust Announces Quarterly Dividends
Brandywine Realty Trust announced that Board of Trustees has declared a quarterly cash dividend of $0.15 per common share, payable on January 18, 2013 to holders of record on January 4 , 2013. The Board of Trustees also declared a quarterly dividend of $0.43125 for each 6.90% Series E Cumulative Redeemable Preferred Share, payable on January 15, 2013 to holders of record on December 30 , 2012. As previously announced, we will redeem all of our outstanding 7.375% Series D Cumulative Redeemable Preferred Shares on December 28, 2012 on which date each share will receive the $25.00 redemption price plus $0.36875 of accumulated and unpaid dividends. Full Article
Brandywine Realty Trust Declares Quarterly Dividend Distribution
Brandywine Realty Trust announced that it has declared a quarterly dividend distribution of $0.15 per common share that was paid on October 19, 2012 to shareholders of record as of October 5, 2012. Our Board also declared quarterly dividend distributions of $0.460938 per 7.375% Series D Cumulative Redeemable Preferred Share and $0.43125 per 6.90% Series E Cumulative Redeemable Preferred Share that were paid on October 15, 2012 to holders of record as of September 30, 2012 of the Series D and Series E Preferred Shares, respectively. Full Article
TEXT - Fitch rates Brandywine Operating Partnership LP
Dec 14 - Fitch Ratings assigns a credit rating of 'BB+' to the $250 million aggregate principal amount 3.95% senior unsecured notes due 2023 issued by Brandywine Operating Partnership, L.P., a subsidiary of Brandywine Realty Trust (NYSE: BDN). The notes were issued at 99.27% of par to yield 4.04%, representing a 235-basis point (bp) spread to the benchmark treasury. BDN will use the proceeds to fund previously announced tender offers for up to $217 million of outstanding 7.5% senior notes due
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