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5 / 10Stock Comparison
BDN vs PDM vs HIW vs DEA vs PGRE
Revenue, margins, valuation, and 5-year total return — side by side.
REIT - Office
REIT - Office
REIT - Office
REIT - Office
BDN vs PDM vs HIW vs DEA vs PGRE — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | |||||
|---|---|---|---|---|---|
| Industry | REIT - Office | REIT - Office | REIT - Office | REIT - Office | REIT - Office |
| Market Cap | $540M | $1.06B | $2.82B | $1.08B | $1.46B |
| Revenue (TTM) | $490M | $422M | $820M | $344M | $723M |
| Net Income (TTM) | $-201M | $-86M | $93M | $15M | $-97M |
| Gross Margin | 70.2% | 19.1% | 67.4% | 49.7% | 57.2% |
| Operating Margin | -1.2% | 13.9% | 25.6% | 24.9% | 14.7% |
| Forward P/E | — | — | 39.6x | 69.5x | — |
| Total Debt | $2.58B | $2.27B | $3.64B | $1.68B | $3.68B |
| Cash & Equiv. | $32M | $731K | $27M | $23M | $375M |
BDN vs PDM vs HIW vs DEA vs PGRE — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Brandywine Realty T… (BDN) | 100 | 32.2 | -67.8% |
| Piedmont Office Rea… (PDM) | 100 | 50.9 | -49.1% |
| Highwoods Propertie… (HIW) | 100 | 66.8 | -33.2% |
| Easterly Government… (DEA) | 100 | 37.2 | -62.8% |
| Paramount Group, In… (PGRE) | 100 | 85.5 | -14.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: BDN vs PDM vs HIW vs DEA vs PGRE
Each card shows where this stock fits in a portfolio — not just who wins on paper.
BDN ranks third and is worth considering specifically for income & stability and defensive.
- Dividend streak 0 yrs, beta 0.73, yield 17.2%
- Beta 0.73, yield 17.2%, current ratio 10.51x
- 17.2% yield, vs HIW's 7.7%
Among these 5 stocks, PDM doesn't own a clear edge in any measured category.
HIW carries the broadest edge in this set and is the clearest fit for long-term compounding.
- -6.8% 10Y total return vs DEA's -8.7%
- Better valuation composite
- 11.4% margin vs BDN's -41.0%
- 1.5% ROA vs BDN's -5.8%, ROIC 2.7% vs 1.9%
DEA is the clearest fit if your priority is growth.
- 11.3% FFO/revenue growth vs BDN's -4.2%
PGRE is the #2 pick in this set and the best alternative if growth exposure and sleep-well-at-night is your priority.
- Rev growth 2.0%, EPS growth 82.5%, 3Y rev CAGR 1.4%
- Lower volatility, beta 0.31, Low D/E 91.7%, current ratio 7.76x
- Beta 0.31 vs PDM's 1.08, lower leverage
- +38.7% vs BDN's -16.5%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 11.3% FFO/revenue growth vs BDN's -4.2% | |
| Value | Better valuation composite | |
| Quality / Margins | 11.4% margin vs BDN's -41.0% | |
| Stability / Safety | Beta 0.31 vs PDM's 1.08, lower leverage | |
| Dividends | 17.2% yield, vs HIW's 7.7% | |
| Momentum (1Y) | +38.7% vs BDN's -16.5% | |
| Efficiency (ROA) | 1.5% ROA vs BDN's -5.8%, ROIC 2.7% vs 1.9% |
BDN vs PDM vs HIW vs DEA vs PGRE — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
BDN vs PDM vs HIW vs DEA vs PGRE — Financial Metrics
Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.
Who Leads Where
PGRE leads in 2 of 6 categories
HIW leads 1 • BDN leads 1 • PDM leads 0 • DEA leads 0 • 2 tied
Explore the data ↓Income & Cash Flow (Last 12 Months)
Evenly matched — HIW and DEA each lead in 2 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
HIW is the larger business by revenue, generating $820M annually — 2.4x DEA's $344M. HIW is the more profitable business, keeping 11.4% of every revenue dollar as net income compared to BDN's -41.0%. On growth, DEA holds the edge at +10.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | |||||
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $490M | $422M | $820M | $344M | $723M |
| EBITDAEarnings before interest/tax | $167M | $229M | $511M | $203M | $342M |
| Net IncomeAfter-tax profit | -$201M | -$86M | $93M | $15M | -$97M |
| Free Cash FlowCash after capex | $53M | $47M | $318M | $262M | $165M |
| Gross MarginGross profit ÷ Revenue | +70.2% | +19.1% | +67.4% | +49.7% | +57.2% |
| Operating MarginEBIT ÷ Revenue | -1.2% | +13.9% | +25.6% | +24.9% | +14.7% |
| Net MarginNet income ÷ Revenue | -41.0% | -20.5% | +11.4% | +4.3% | -13.5% |
| FCF MarginFCF ÷ Revenue | +10.8% | +11.2% | +38.7% | +76.2% | +22.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +4.5% | -100.0% | +6.8% | +10.6% | -11.3% |
| EPS Growth (YoY)Latest quarter vs prior year | -75.0% | -23.0% | -67.8% | -55.4% | -191.5% |
Valuation Metrics
PGRE leads this category, winning 2 of 6 comparable metrics.
Valuation Metrics
At 17.6x trailing earnings, HIW trades at a 78% valuation discount to DEA's 80.3x P/E. On an enterprise value basis, PDM's 10.9x EV/EBITDA is more attractive than DEA's 13.9x.
| Metric | |||||
|---|---|---|---|---|---|
| Market CapShares × price | $540M | $1.1B | $2.8B | $1.1B | $1.5B |
| Enterprise ValueMkt cap + debt − cash | $3.1B | $3.3B | $6.4B | $2.7B | $4.8B |
| Trailing P/EPrice ÷ TTM EPS | -3.02x | -12.67x | 17.63x | 80.31x | -31.43x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — | 39.58x | 69.52x | — |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — | — |
| EV / EBITDAEnterprise value multiple | 12.01x | 10.88x | 12.75x | 13.85x | 12.29x |
| Price / SalesMarket cap ÷ Revenue | 1.12x | 1.88x | 3.50x | 3.21x | 1.93x |
| Price / BookPrice ÷ Book value/share | 0.68x | 0.71x | 1.16x | 0.77x | 0.36x |
| Price / FCFMarket cap ÷ FCF | 12.65x | — | 16.93x | 4.16x | 5.53x |
Profitability & Efficiency
HIW leads this category, winning 4 of 9 comparable metrics.
Profitability & Efficiency
HIW delivers a 3.8% return on equity — every $100 of shareholder capital generates $4 in annual profit, vs $-25 for BDN. PGRE carries lower financial leverage with a 0.92x debt-to-equity ratio, signaling a more conservative balance sheet compared to BDN's 3.23x. On the Piotroski fundamental quality scale (0–9), PGRE scores 7/9 vs DEA's 4/9, reflecting strong financial health.
| Metric | |||||
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | -24.6% | -5.7% | +3.8% | +1.1% | -2.4% |
| ROA (TTM)Return on assets | -5.8% | -2.2% | +1.5% | +0.4% | -1.2% |
| ROICReturn on invested capital | +1.9% | +1.5% | +2.7% | +2.1% | +1.5% |
| ROCEReturn on capital employed | +2.4% | +2.0% | +3.5% | +3.6% | +1.9% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 5 | 6 | 4 | 7 |
| Debt / EquityFinancial leverage | 3.23x | 1.52x | 1.49x | 1.23x | 0.92x |
| Net DebtTotal debt minus cash | $2.5B | $2.3B | $3.6B | $1.7B | $3.3B |
| Cash & Equiv.Liquid assets | $32M | $731,000 | $27M | $23M | $375M |
| Total DebtShort + long-term debt | $2.6B | $2.3B | $3.6B | $1.7B | $3.7B |
| Interest CoverageEBIT ÷ Interest expense | -0.28x | 0.35x | 2.07x | 1.18x | 0.95x |
Total Returns (Dividends Reinvested)
PGRE leads this category, winning 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in HIW five years ago would be worth $7,995 today (with dividends reinvested), compared to $4,556 for BDN. Over the past 12 months, PGRE leads with a +38.7% total return vs BDN's -16.5%. The 3-year compound annual growth rate (CAGR) favors PGRE at 14.9% vs DEA's -5.7% — a key indicator of consistent wealth creation.
| Metric | |||||
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +10.8% | +2.4% | +0.7% | +13.5% | — |
| 1-Year ReturnPast 12 months | -16.5% | +26.5% | -5.2% | +25.0% | +38.7% |
| 3-Year ReturnCumulative with dividends | +24.4% | +47.5% | +44.3% | -16.2% | +51.6% |
| 5-Year ReturnCumulative with dividends | -54.4% | -39.2% | -20.1% | -37.0% | -30.5% |
| 10-Year ReturnCumulative with dividends | -36.9% | -23.4% | -6.8% | -8.7% | -46.2% |
| CAGR (3Y)Annualised 3-year return | +7.6% | +13.8% | +13.0% | -5.7% | +14.9% |
Risk & Volatility
Evenly matched — DEA and PGRE each lead in 1 of 2 comparable metrics.
Risk & Volatility
PGRE is the less volatile stock with a 0.31 beta — it tends to amplify market swings less than PDM's 1.08 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. DEA currently trades 93.4% from its 52-week high vs BDN's 67.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | |||||
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.73x | 1.08x | 0.76x | 0.51x | 0.31x |
| 52-Week HighHighest price in past year | $4.63 | $9.19 | $32.76 | $24.94 | $7.85 |
| 52-Week LowLowest price in past year | $2.47 | $6.32 | $20.45 | $19.82 | $4.48 |
| % of 52W HighCurrent price vs 52-week peak | +67.2% | +92.4% | +78.0% | +93.4% | +84.1% |
| RSI (14)Momentum oscillator 0–100 | 57.0 | 67.0 | 69.6 | 54.0 | 56.8 |
| Avg Volume (50D)Average daily shares traded | 2.6M | 1.1M | 1.3M | 381K | 1.5M |
Analyst Outlook
BDN leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Analyst consensus: BDN as "Hold", PDM as "Hold", HIW as "Hold", DEA as "Hold", PGRE as "Hold". Consensus price targets imply 81.8% upside for PGRE (target: $12) vs -29.5% for DEA (target: $16). For income investors, BDN offers the higher dividend yield at 17.24% vs PGRE's 1.59%.
| Metric | |||||
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold | Hold | Hold | Hold |
| Price TargetConsensus 12-month target | $3.50 | $10.00 | $27.00 | $16.41 | $12.00 |
| # AnalystsCovering analysts | 24 | 11 | 22 | 8 | 13 |
| Dividend YieldAnnual dividend ÷ price | +17.2% | +2.9% | +7.7% | +9.0% | +1.6% |
| Dividend StreakConsecutive years of raises | 0 | 0 | 0 | 0 | 0 |
| Dividend / ShareAnnual DPS | $0.54 | $0.25 | $1.96 | $2.10 | $0.11 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% | +0.1% | 0.0% | +0.0% |
PGRE leads in 2 of 6 categories (Valuation Metrics, Total Returns). HIW leads in 1 (Profitability & Efficiency). 2 tied.
BDN vs PDM vs HIW vs DEA vs PGRE: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is BDN or PDM or HIW or DEA or PGRE a better buy right now?
For growth investors, Easterly Government Properties, Inc.
(DEA) is the stronger pick with 11. 3% revenue growth year-over-year, versus -4. 2% for Brandywine Realty Trust (BDN). Highwoods Properties, Inc. (HIW) offers the better valuation at 17. 6x trailing P/E (39. 6x forward), making it the more compelling value choice. Analysts rate Brandywine Realty Trust (BDN) a "Hold" — based on 24 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — BDN or PDM or HIW or DEA or PGRE?
On trailing P/E, Highwoods Properties, Inc.
(HIW) is the cheapest at 17. 6x versus Easterly Government Properties, Inc. at 80. 3x. On forward P/E, Highwoods Properties, Inc. is actually cheaper at 39. 6x.
03Which is the better long-term investment — BDN or PDM or HIW or DEA or PGRE?
Over the past 5 years, Highwoods Properties, Inc.
(HIW) delivered a total return of -20. 1%, compared to -54. 4% for Brandywine Realty Trust (BDN). Over 10 years, the gap is even starker: HIW returned -6. 8% versus PGRE's -46. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — BDN or PDM or HIW or DEA or PGRE?
By beta (market sensitivity over 5 years), Paramount Group, Inc.
(PGRE) is the lower-risk stock at 0. 31β versus Piedmont Office Realty Trust, Inc. 's 1. 08β — meaning PDM is approximately 249% more volatile than PGRE relative to the S&P 500. On balance sheet safety, Paramount Group, Inc. (PGRE) carries a lower debt/equity ratio of 92% versus 3% for Brandywine Realty Trust — giving it more financial flexibility in a downturn.
05Which is growing faster — BDN or PDM or HIW or DEA or PGRE?
By revenue growth (latest reported year), Easterly Government Properties, Inc.
(DEA) is pulling ahead at 11. 3% versus -4. 2% for Brandywine Realty Trust (BDN). On earnings-per-share growth, the picture is similar: Paramount Group, Inc. grew EPS 82. 5% year-over-year, compared to -37. 0% for Easterly Government Properties, Inc.. Over a 3-year CAGR, DEA leads at 4. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — BDN or PDM or HIW or DEA or PGRE?
Highwoods Properties, Inc.
(HIW) is the more profitable company, earning 19. 8% net margin versus -37. 0% for Brandywine Realty Trust — meaning it keeps 19. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: HIW leads at 26. 0% versus 14. 1% for PDM. At the gross margin level — before operating expenses — HIW leads at 67. 6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is BDN or PDM or HIW or DEA or PGRE more undervalued right now?
On forward earnings alone, Highwoods Properties, Inc.
(HIW) trades at 39. 6x forward P/E versus 69. 5x for Easterly Government Properties, Inc. — 29. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PGRE: 81. 8% to $12. 00.
08Which pays a better dividend — BDN or PDM or HIW or DEA or PGRE?
All stocks in this comparison pay dividends.
Brandywine Realty Trust (BDN) offers the highest yield at 17. 2%, versus 1. 6% for Paramount Group, Inc. (PGRE).
09Is BDN or PDM or HIW or DEA or PGRE better for a retirement portfolio?
For long-horizon retirement investors, Paramount Group, Inc.
(PGRE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 31), 1. 6% yield). Both have compounded well over 10 years (PGRE: -46. 2%, PDM: -23. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between BDN and PDM and HIW and DEA and PGRE?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: BDN is a small-cap income-oriented stock; PDM is a small-cap quality compounder stock; HIW is a small-cap deep-value stock; DEA is a small-cap income-oriented stock; PGRE is a small-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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