REIT - Office
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BDN vs PGRE vs SLG vs PDM
Revenue, margins, valuation, and 5-year total return — side by side.
REIT - Office
REIT - Office
REIT - Office
BDN vs PGRE vs SLG vs PDM — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||||
|---|---|---|---|---|
| Industry | REIT - Office | REIT - Office | REIT - Office | REIT - Office |
| Market Cap | $540M | $1.46B | $3.22B | $1.06B |
| Revenue (TTM) | $490M | $723M | $981M | $422M |
| Net Income (TTM) | $-201M | $-97M | $-88M | $-86M |
| Gross Margin | 70.2% | 57.2% | 58.2% | 19.1% |
| Operating Margin | -1.2% | 14.7% | 42.7% | 13.9% |
| Total Debt | $2.58B | $3.68B | $7.91B | $2.27B |
| Cash & Equiv. | $32M | $375M | $336M | $731K |
BDN vs PGRE vs SLG vs PDM — 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% |
| Paramount Group, In… (PGRE) | 100 | 85.5 | -14.5% |
| SL Green Realty Cor… (SLG) | 100 | 101.3 | +1.3% |
| Piedmont Office Rea… (PDM) | 100 | 50.9 | -49.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: BDN vs PGRE vs SLG vs PDM
Each card shows where this stock fits in a portfolio — not just who wins on paper.
BDN is the clearest fit if your priority is 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 PGRE's 1.6%, (1 stock pays no dividend)
PGRE carries the broadest edge in this set and is the clearest fit for growth exposure and sleep-well-at-night.
- 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
- Better valuation composite
- Beta 0.31 vs SLG's 1.20, lower leverage
SLG is the #2 pick in this set and the best alternative if long-term compounding is your priority.
- -26.2% 10Y total return vs PDM's -23.4%
- 42.0% FFO/revenue growth vs BDN's -4.2%
- -9.0% margin vs BDN's -41.0%
- -0.8% ROA vs BDN's -5.8%, ROIC 1.1% vs 1.9%
PDM lags the leaders in this set but could rank higher in a more targeted comparison.
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 42.0% FFO/revenue growth vs BDN's -4.2% | |
| Value | Better valuation composite | |
| Quality / Margins | -9.0% margin vs BDN's -41.0% | |
| Stability / Safety | Beta 0.31 vs SLG's 1.20, lower leverage | |
| Dividends | 17.2% yield, vs PGRE's 1.6%, (1 stock pays no dividend) | |
| Momentum (1Y) | +38.7% vs BDN's -16.5% | |
| Efficiency (ROA) | -0.8% ROA vs BDN's -5.8%, ROIC 1.1% vs 1.9% |
BDN vs PGRE vs SLG vs PDM — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
BDN vs PGRE vs SLG vs PDM — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
Who Leads Where
SLG leads in 2 of 6 categories
PGRE leads 2 • BDN leads 1 • PDM leads 0 • 1 tied
Explore the data ↓Income & Cash Flow (Last 12 Months)
SLG leads this category, winning 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
SLG is the larger business by revenue, generating $981M annually — 2.3x PDM's $422M. SLG is the more profitable business, keeping -9.0% of every revenue dollar as net income compared to BDN's -41.0%. On growth, SLG holds the edge at +9.2% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||||
|---|---|---|---|---|
| RevenueTrailing 12 months | $490M | $723M | $981M | $422M |
| EBITDAEarnings before interest/tax | $167M | $342M | $678M | $229M |
| Net IncomeAfter-tax profit | -$201M | -$97M | -$88M | -$86M |
| Free Cash FlowCash after capex | $53M | $165M | $28M | $47M |
| Gross MarginGross profit ÷ Revenue | +70.2% | +57.2% | +58.2% | +19.1% |
| Operating MarginEBIT ÷ Revenue | -1.2% | +14.7% | +42.7% | +13.9% |
| Net MarginNet income ÷ Revenue | -41.0% | -13.5% | -9.0% | -20.5% |
| FCF MarginFCF ÷ Revenue | +10.8% | +22.9% | +2.9% | +11.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +4.5% | -11.3% | +9.2% | -100.0% |
| EPS Growth (YoY)Latest quarter vs prior year | -75.0% | -191.5% | -13.2% | -23.0% |
Valuation Metrics
PGRE leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, PDM's 10.9x EV/EBITDA is more attractive than SLG's 26.3x.
| Metric | ||||
|---|---|---|---|---|
| Market CapShares × price | $540M | $1.5B | $3.2B | $1.1B |
| Enterprise ValueMkt cap + debt − cash | $3.1B | $4.8B | $10.8B | $3.3B |
| Trailing P/EPrice ÷ TTM EPS | -3.02x | -31.43x | -28.48x | -12.67x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — |
| EV / EBITDAEnterprise value multiple | 12.01x | 12.29x | 26.34x | 10.88x |
| Price / SalesMarket cap ÷ Revenue | 1.12x | 1.93x | 3.21x | 1.88x |
| Price / BookPrice ÷ Book value/share | 0.68x | 0.36x | 0.73x | 0.71x |
| Price / FCFMarket cap ÷ FCF | 12.65x | 5.53x | — | — |
Profitability & Efficiency
PGRE leads this category, winning 3 of 9 comparable metrics.
Profitability & Efficiency
SLG delivers a -2.0% return on equity — every $100 of shareholder capital generates $-2 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 SLG's 2/9, reflecting strong financial health.
| Metric | ||||
|---|---|---|---|---|
| ROE (TTM)Return on equity | -24.6% | -2.4% | -2.0% | -5.7% |
| ROA (TTM)Return on assets | -5.8% | -1.2% | -0.8% | -2.2% |
| ROICReturn on invested capital | +1.9% | +1.5% | +1.1% | +1.5% |
| ROCEReturn on capital employed | +2.4% | +1.9% | +1.5% | +2.0% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 7 | 2 | 5 |
| Debt / EquityFinancial leverage | 3.23x | 0.92x | 1.82x | 1.52x |
| Net DebtTotal debt minus cash | $2.5B | $3.3B | $7.6B | $2.3B |
| Cash & Equiv.Liquid assets | $32M | $375M | $336M | $731,000 |
| Total DebtShort + long-term debt | $2.6B | $3.7B | $7.9B | $2.3B |
| Interest CoverageEBIT ÷ Interest expense | -0.28x | 0.95x | — | 0.35x |
Total Returns (Dividends Reinvested)
SLG leads this category, winning 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in SLG five years ago would be worth $8,473 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 SLG at 34.8% vs BDN's 7.6% — a key indicator of consistent wealth creation.
| Metric | ||||
|---|---|---|---|---|
| YTD ReturnYear-to-date | +10.8% | — | -2.3% | +2.4% |
| 1-Year ReturnPast 12 months | -16.5% | +38.7% | -13.3% | +26.5% |
| 3-Year ReturnCumulative with dividends | +24.4% | +51.6% | +144.9% | +47.5% |
| 5-Year ReturnCumulative with dividends | -54.4% | -30.5% | -15.3% | -39.2% |
| 10-Year ReturnCumulative with dividends | -36.9% | -46.2% | -26.2% | -23.4% |
| CAGR (3Y)Annualised 3-year return | +7.6% | +14.9% | +34.8% | +13.8% |
Risk & Volatility
Evenly matched — PGRE and PDM 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 SLG's 1.20 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. PDM currently trades 92.4% 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 | 0.31x | 1.20x | 1.08x |
| 52-Week HighHighest price in past year | $4.63 | $7.85 | $66.91 | $9.19 |
| 52-Week LowLowest price in past year | $2.47 | $4.48 | $34.77 | $6.32 |
| % of 52W HighCurrent price vs 52-week peak | +67.2% | +84.1% | +67.7% | +92.4% |
| RSI (14)Momentum oscillator 0–100 | 57.0 | 56.8 | 63.8 | 67.0 |
| Avg Volume (50D)Average daily shares traded | 2.6M | 1.5M | 1.3M | 1.1M |
Analyst Outlook
BDN leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Analyst consensus: BDN as "Hold", PGRE as "Hold", SLG as "Hold", PDM as "Hold". Consensus price targets imply 81.8% upside for PGRE (target: $12) vs 11.4% for SLG (target: $50). 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 |
| Price TargetConsensus 12-month target | $3.50 | $12.00 | $50.46 | $10.00 |
| # AnalystsCovering analysts | 24 | 13 | 31 | 11 |
| Dividend YieldAnnual dividend ÷ price | +17.2% | +1.6% | — | +2.9% |
| Dividend StreakConsecutive years of raises | 0 | 0 | 0 | 0 |
| Dividend / ShareAnnual DPS | $0.54 | $0.11 | — | $0.25 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.0% | 0.0% | 0.0% |
SLG leads in 2 of 6 categories (Income & Cash Flow, Total Returns). PGRE leads in 2 (Valuation Metrics, Profitability & Efficiency). 1 tied.
BDN vs PGRE vs SLG vs PDM: Key Questions Answered
8 questions · data-driven answers · updated daily
01Is BDN or PGRE or SLG or PDM a better buy right now?
For growth investors, SL Green Realty Corp.
(SLG) is the stronger pick with 42. 0% revenue growth year-over-year, versus -4. 2% for Brandywine Realty Trust (BDN). 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 is the better long-term investment — BDN or PGRE or SLG or PDM?
Over the past 5 years, SL Green Realty Corp.
(SLG) delivered a total return of -15. 3%, compared to -54. 4% for Brandywine Realty Trust (BDN). Over 10 years, the gap is even starker: PDM returned -23. 4% 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.
03Which is safer — BDN or PGRE or SLG or PDM?
By beta (market sensitivity over 5 years), Paramount Group, Inc.
(PGRE) is the lower-risk stock at 0. 31β versus SL Green Realty Corp. 's 1. 20β — meaning SLG is approximately 286% 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.
04Which is growing faster — BDN or PGRE or SLG or PDM?
By revenue growth (latest reported year), SL Green Realty Corp.
(SLG) is pulling ahead at 42. 0% 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 -21. 2% for SL Green Realty Corp.. Over a 3-year CAGR, SLG leads at 5. 2% 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.
05Which has better profit margins — BDN or PGRE or SLG or PDM?
Paramount Group, Inc.
(PGRE) is the more profitable company, earning -6. 1% net margin versus -37. 0% for Brandywine Realty Trust — meaning it keeps -6. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PGRE leads at 19. 6% versus 14. 1% for PDM. At the gross margin level — before operating expenses — PGRE leads at 60. 0%, 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.
06Which pays a better dividend — BDN or PGRE or SLG or PDM?
In this comparison, BDN (17.
2% yield), PDM (2. 9% yield), PGRE (1. 6% yield) pay a dividend. SLG does not pay a meaningful dividend and should not be held primarily for income.
07Is BDN or PGRE or SLG or PDM 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%, SLG: -26. 2%), 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.
08What are the main differences between BDN and PGRE and SLG and PDM?
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; PGRE is a small-cap quality compounder stock; SLG is a small-cap high-growth stock; PDM is a small-cap quality compounder stock. BDN, PGRE, PDM pay a dividend while SLG does not, making them suitable for different income and tax situations. 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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