Brandywine Realty, Howard Sipzner: Howard Sipzner, Executive Vice President and CFO at Brandywine Realty Trust (NYSE:BDN), acquired 6,500 company shares last Friday, Oct. 4th. He paid $11.89, totaling $77,285. Following the transaction, Sipzner now owns 420,100 shares*, valued at $5,427,692. In order to make the purchase below the trading price, he disposed of 6,500 employee stock options (right to buy) with a conversion price of $11.89. In addition, he holds another 33,373 stock options, already exercisable, to expire on February 2021.
The purchase follows an announcement, made on Oct. 1st, about the company going ex-dividend. The dividend yield will stand at 4.65% of the current stock price. After the disclosure of the acquisition, the stock price started to surge slowly.
Sipzner is not the only one feeling bullish about Brandywine. Several huge hedge funds have also invested in the company. David Dreman’s Dreman Value Management holds a stake of more than $30 million in the firm. Cliff Asness’ AQE Capital Management holds an extra $4.5 million (approx.).
* The “filing also reports in the ending balance of shares owned the sum of 1,081.31 additional common shares acquired under the Company’s Employee Share Purchase Plan (ESPP). The ESPP shares were purchased following the Reporting Person’s last Section 16 filing. Under the ESPP 1,081.31 shares were acquired on September 9, 2013 at a transaction price of $11.56 per share.” (SEC)
Disclosure: Javier Hasse holds no position in any stocks mentioned