BRT Apartments

BRT Apartments Corp. is a real estate investment trust, which engages in the ownership, operation, and development of multi-family properties. Its properties include Brixworth at Bridge Street, Silvana Oaks Apartments, Avondale Station, Newbridge Commons, Kendall Manor, and Parkway Grande. The company was founded in 1972 and is headquartered in Great Neck, NY.

Earnings data Q1 2021

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BRT Apartments reports robust Q4 performance and projects positive 2023 guidance

BRT Apartments showcased strong portfolio performance and strategic acquisitions in Q4 2022, projecting positive guidance for 2023.
While expense growth presents challenges, the company's focus on capital allocation and occupancy management highlights resilience.
Opportunities for growth exist through acquisitions, cost management strategies, and adapting to market dynamics.
Overall, BRT Apartments' proactive approach to investor communication and portfolio enhancement sets a positive trajectory for the future.

BRT Apartments reports mixed Q1 results, eyes strategic opportunities

BRT Apartments Q1 2023 showed operational strength with consistent revenues and successful property transactions
Financial challenges included a net loss, decreased FFO and AFFO, and impacts from non-controllable expenses
Opportunities lie in strategic financial management, NOI improvement, and addressing market-specific challenges for growth

BRT Apartments reports solid performance and addresses challenges for growth

BRT Apartments showcases strong performance with solid rent growth and successful property sale, while addressing challenges like underperformance at specific properties and debt coverage ratios. Opportunities lie in foot traffic improvements, potential distress in '24 for acquisitions, and future capital structure plans.

BRT Apartments reports Q3 loss, affirms guidance amid challenges

BRT Apartments faces challenges from inflation, underperforming assets, and expense growth. Despite this, share repurchases have been accretive, and the company remains optimistic about future investment opportunities. Guidance for 2023 is maintained based on strong year-to-date performance.

BRT Apartments reports resilient performance in 2023 amidst market challenges

BRT Apartments navigated challenges in 2023, focusing on strategic initiatives and operational improvements. Despite market headwinds, the company remains optimistic about future performance and growth opportunities. Share repurchases, project progress, and future partnership deals were key areas of discussion during the earnings call.

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BRT Apartments Corp. is a real estate investment trust. It engages in the ownership, operation, and holding interests in joint ventures that own and operate multi-family properties. The company was founded in June 1972 and is headquartered in Great Neck, NY.

Reduces Debt Through Targeted Dispositions Subsequent to Quarter Close Reduces Debt Through Targeted Dispositions Subsequent to Quarter Close

BRT Apartments Corp. Reports Second Quarter Results for 2021

GREAT NECK, N.Y., Aug. 03, 2021 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) today announced it completed the sale of two multi-family properties owned by an unconsolidated joint venture in which BRT has a 50% interest. These properties, Parc at 980, a 586-unit property in Lawrenceville, GA and The Avenue Apartments, a 522-unit property located in Ocoee, Florida, produced an internal rate of return, or IRR, of 24.9% over the three years these properties were owned. BRT estimates that as a result of these sales, it will, in the third quarter, after giving effect to its $4.2 million share of a mortgage prepayment charge, recognize an aggregate gain of approximately $30 million of equity in earnings.

BRT Apartments Corp. Generates Gain of Approximately $30 Million from Sales of Two Properties

GREAT NECK, N.Y., July 21, 2021 (GLOBE NEWSWIRE) -- BRT APARTMENTS CORP. (NYSE:BRT), a multi-family real estate investment trust with properties located primarily in the Southeast United States and Texas, today announced it will release financial results for the second quarter 2021 after the market close on Thursday, August 5, 2021.

BRT APARTMENTS CORP. Announces Second Quarter 2021 Earnings Release

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GREAT NECK, N.Y., June 28, 2021 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) today announced that it entered into contracts to sell two multi-family properties, both of which are owned by an unconsolidated joint venture for approximately $226 million and expects to recognize its share of the gain, net of any prepayment penalty, of between $28 million and $30 million from the sale of these properties.

BRT Apartments Corp. Agrees to Sell Two Multi-Family Properties and Will Recognize Embedded Gains in the Portfolio

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GREAT NECK, N.Y., May 27, 2021 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) today announced that it completed its previously announced sale of its wholly-owned multi-family property, Kendall Manor, located in Houston, Texas for a sales price of $24.5 million. BRT generated net proceeds of approximately $9.5 million from the sale and estimates that during the quarter ending June 30, 2021, it will recognize a gain on sale of this property of $7.4 million. Management anticipates redeploying the net proceeds of the sale towards the acquisition of other properties, including the buy-out of its partners' interests in certain joint venture properties, paying down debt, and for general corporate and working capital purposes.

BRT Apartments Corp. Completes Sale of Kendall Manor

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GREAT NECK, N.Y., May 13, 2021 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE: BRT) (the "Company"), today announced it has terminated the contemplated underwritten public offering of its common stock previously announced on May 10, 2021. The termination results from an assessment by the Company's management that the current volatile equity market conditions are not conducive for an offering on terms that would be in the best interests of the Company and its stockholders. As a result of such termination, no shares of common stock will be sold pursuant to the offering.

BRT Apartments Corp. Announces Termination of Public Offering of Common Stock

GREAT NECK, N.Y., May 10, 2021 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE: BRT) (the "Company"), a real estate investment trust (“REIT”) that owns, operates, and, to a lesser extent, develops multi-family properties, today announced that it has commenced an underwritten public offering of 2,000,000 shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 300,000 shares of its common stock.

BRT Apartments Corp. Commences Public Offering of 2,000,000 Shares of Common Stock

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BRT Apartments Corp (BRT) CEO Jeffrey Gould on Q1 2021 Results - Earnings Call Transcript

BRT (BRT) delivered FFO and revenue surprises of 20.00% and -0.06%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

BRT Realty (BRT) Beats Q1 FFO Estimates

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BRT Apartments Corp. Reports First Quarter Results for 2021

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GREAT NECK, N.Y., April 26, 2021 (GLOBE NEWSWIRE) -- BRT APARTMENTS CORP. (NYSE:BRT), a multi-family real estate investment trust with properties located primarily in the Southeast United States and Texas, today announced it will release financial results for the first quarter of 2021 after the market close on May 6, 2021.

BRT Apartments Corp. Announces First Quarter 2021 Earnings Release

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