UPDATE: ISI Group Raises PT to $13.50 on Brandywine Realty Trust on Lease-Up Outlook
ISI Group reiterated its Buy rating on Brandywine Realty Trust (NYSE: BDN) and increased its price target from $13 to $13.50.
ISI Group said, "In a flattish net absorption environment, BDN continues to benefit from tenants in its markets looking to trade up into higher quality buildings at comparable rents to their expiring rents. That said, tenants continue to have a protracted decision making timeline which is slowing down the pace of leasing. The DC market remains the softest market in the portfolio (concessions / net effective rents clearly lower), but it appears that activity remains better than originally projected in the Philadelphia markets and New Jersey/Delaware."
Brandywine Realty Trust closed at $12.39 on Monday.
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