Janney Montgomery Scott Initiates Coverage on Brandywine Realty Trust (BDN) with a Neutral
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Janney Montgomery Scott initiates coverage on Brandywine Realty Trust (NYSE: BDN) with a Neutral. Fair Value $7.
Janney analyst says, "The ongoing credit crisis is turning the REIT market to shambles, and the stock of nearly any company that survives will likely be worth more in three years than it is today. However, in the near term, REIT prices are a function of one thing: balance sheet strength. A strong management team and defensive markets, two characteristics of Brandywine, will likely serve companies well several years down the road, but today is all about debt maturities and debt ratios. Brandywine is a well-run company that is slightly over-levered and has fairly sizeable (~$550M) maturities over the next twelve months."
Brandywine Realty Trust is a self-administered and self-managed real estate investment trust (REIT) that is engaged in acquiring, developing, redeveloping, leasing and managing office and industrial properties.
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