This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Brandywine Realty Trust's CEO Discusses Q1 2012 Results - Earnings Call Transcript

In other markets were we’re accelerating absorption through aggressively gaining market share, results along these lines remain measurable and positive. And in these markets, particularly in New Jersey and Northern Virginia, while we recognize we have marginal current pricing power, we are well positioned to achieve above market absorption levels and position those portfolios for long term growth.

Our watchword remains aggressive pursuit of tenants with the goal of meeting all of our business plan targets. Based on our year-to-date activity and forward pipeline, as evidence of our confidents we did increase our 2012 speculative revenue target by 2% and year-to-date we’ve achieved 80% of this new annual target.

Looking at the quarter, we had good leasing benchmarks and solid operating metrics. Most notably, our pipeline of transactions which we defined is prospects of an issued proposals remains consistent 3.4 million square feet.

The number and square footage of prospects touring or inquiring about our properties during the quarter averaged 37 companies and 400,000 square feet per week. For the quarter, these numbers were 26% greater than in the fourth quarter of 2011. So while general market activity leasing levels were generally down, we had a very good quarter of tenant inquires and inspections evidencing from our standpoint continued emergence of tenant demand and as previously mentioned flight the quality product and landlords.

Our goal of having positive same-store growth for 2011 remains on track, mark-to-market leasing spreads were consistent with our 2012 business plan albeit lower for the quarter particularly on a cash basis than our target of run rate for the year. For the balance of the year, we expect better forward leasing spread based upon the position of our projected leasing activity.

Concession package remained fairly steady, where we’re seeing higher capital cost we’re attempting to mitigate that through extended lease terms. Our TI cost for the quarter were in line with our business plan assumptions but continue to be an area of heightened focus.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 -1.04%
FB $118.06 0.54%
GOOG $695.70 0.48%
TSLA $222.56 -4.20%
YHOO $36.00 -0.03%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs