Brandywine Realty Trust is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in Philadelphia, PA and Austin, TX. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio comprising 120 properties and 20.0 million square feet as of …
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Brandywine Realty Trust ranks #20 of 27
scored companies in REIT - Office by moat score — the top 74%.
The widest moat in the group is Easterly Government Properties, (DEA)
at 78/100.
Moat scores for companies ranked near BDN in REIT - Office
For a REIT, pricing power is the ability to raise rents at renewal and still keep the space occupied.
AFFO Strength
Score 27
· 18% of the moat score
AFFO — adjusted funds from operations — is the cash a REIT can actually distribute after the recurring capital spending buildings need in order to stay leasable.
Balance Sheet & Cost of Capital
Score 17
· 20% of the moat score
Real estate is bought with borrowed money, so a REIT's cost of capital is its competitive advantage.
Capital Recycling & Growth
Score 81
· 16% of the moat score
REITs grow by issuing shares and debt to buy more property, which creates value only when the yield on the asset exceeds the cost of the capital raised.
Operational Efficiency
Score 27
· 14% of the moat score
Running property — leasing, maintenance, taxes, management — is the part of the business a REIT genuinely controls.
Portfolio Quality & Diversification
Score 46
· 12% of the moat score
Portfolio quality is really a question about what happens when a tenant fails.
Brandywine Realty Trust (BDN) scores 35 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #20 of 27 scored companies in REIT - Office, the top 74%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 30 companies in REIT - Office. Its strongest defense is Capital Recycling & Growth (81/100) and its weakest is Balance Sheet & Cost of Capital (17/100).
How does Brandywine Realty Trust compare with other REIT - Office companies?
Brandywine Realty Trust ranks #20 of 27 scored companies in REIT - Office by moat score. The widest moat in REIT - Office is Easterly Government Properties, (DEA) at 78/100. The companies ranked closest are City Office REIT, Inc. (CIO) at 37 just above it and Franklin Street Properties Corp (FSP) at 34 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — REIT Specialized in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 30 companies in REIT - Office. The defenses are then weighted to produce the overall score out of 100.
Why is Brandywine Realty Trust scored with the REIT Specialized template?
A REIT is a portfolio of buildings financed with debt and required to distribute most of its taxable income. Reported earnings are dominated by depreciation on assets that often appreciate, so net income says very little; the real question is how much cash the properties distribute, and how securely. The REIT template scores what determines that: rent pricing, distributable cash, cost of capital, and the discipline behind growth.
Which competitive defenses are measured for Brandywine Realty Trust?
The REIT Specialized template measures 6 defenses, and BDN scores: Rent Pricing Power (18), AFFO Strength (27), Balance Sheet & Cost of Capital (17), Capital Recycling & Growth (81), Operational Efficiency (27), Portfolio Quality & Diversification (46). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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