NEW YORK (TheStreet) -- Shares of Brandywine Realty Trust (BDN) - Get Brandywine Realty Trust Report are gaining by 5.06% to $13.70 on heavy volume in midday trading on Thursday afternoon, after the company reported its 2015 third quarter financial results, which topped analysts' expectations for the period.
The Radnor, PA-based real estate investment trust reported funds from operations of $76.9 million or 43 cents per share. Analysts had been expecting 43 cents per share in funds from operations.
Funds from operations are a closely watched measure in the REIT sector, the Associated Press reports. It takes net income and adds back items including depreciation and amortization.
Revenue came in at $152.6 million, topping the $151 million analysts were expecting for the most recent quarter.
"We continue to capitalize on improving market conditions," Gerard H. Sweeney, CEO of Brandywine Realty Trust said in a statement.
"Our third quarter same store growth was very strong and we have achieved 99% of our 2015 speculative revenue target. Our portfolio disposition program continues to progress, and given the current strength of the investment market, we have increased our 2015 sales goal another $100 million to $400 million," Sweeney continued.
Separately, TheStreet Ratings team rates BRANDYWINE REALTY TRUST as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
We rate BRANDYWINE REALTY TRUST (BDN) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: BDN