Welcome to our dedicated page for BRT Apartments news (Ticker: BRT), a resource for investors and traders seeking the latest updates and insights on BRT Apartments stock.
BRT Apartments Corp (NYSE: BRT) is a leading real estate investment trust (REIT) specializing in the ownership, operation, and development of multi-family properties across the United States. Headquartered in Great Neck, New York, BRT focuses on acquiring and managing assets that generate a stable and growing income. As of March 31, 2024, the company owns or has interests in 29 multi-family properties encompassing 7,947 units spread across 11 states.
Core Business and Operations:
BRT’s primary business model involves joint ventures where it holds equity interests in the entities that own the properties. This strategy allows BRT to leverage its expertise while sharing the financial commitments and benefits.
Recent Achievements and Financial Condition:
BRT has recently reaffirmed its strong financial position amidst industry-wide challenges. For the third quarter ending September 30, 2023, the company reported stable occupancy rates and solid revenue growth due to increased rental rates. Notably, BRT has repurchased 671,000 of its shares, reflecting confidence in its market value and future prospects. By December 31, 2023, BRT had available liquidity of approximately $83.5 million and a weighted average interest rate on consolidated and unconsolidated mortgage debt of 4.02%.
Current Projects:
BRT is actively involved in several development and value-add projects aimed at enhancing its property portfolio. The company remains patient regarding new acquisitions due to current market conditions but is poised to seize opportunities that align with its strategic goals.
Partnerships and Products:
The company's portfolio includes various joint ventures with other real estate entities, allowing it to expand its reach and impact. BRT has a strategic partnership with Gould Investors L.P., which manages $2 billion in assets and is a significant shareholder in BRT.
Investor Relations:
BRT maintains a robust investor relations program, frequently updating stakeholders through quarterly reports, conference calls, and webcasts. The next investor call is scheduled for March 13, 2024, to review the Q1 2024 results and discuss future outlooks. Investors can access detailed financial statements and supplemental information on the company’s investor relations website.
For additional information on BRT's operations, activities, and properties, please visit www.brtapartments.com.
BRT Apartments Corp. (NYSE:BRT), a real estate investment trust, will announce its financial results for Q1 2023 on May 8, 2023, post-market. The company has interests in 29 multi-family properties with a total of 8,201 units across 11 states as of March 31, 2023. Following the earnings release, a conference call will be held on May 9, 2023, at 9:00 a.m. ET, where BRT will review its performance and offer an outlook for 2023.
Investors can participate in the call by dialing 1-877-300-8521 (U.S. and Canada) or 1-412-317-6026 (international), while a live webcast will also be available on the company’s investor relations website. A playback of the call will be accessible later through various domestic and international numbers starting on May 9, 2023.
On March 30, 2023, Rainbow Realty Group and MJ Real Estate Investment Trust announced a significant loan closing of $4.50 million, secured by five properties in Colorado. The properties are operated by Silver Stem Fine Cannabis, a notable player in the cannabis sector with 10 dispensaries and two cultivation sites in Colorado. The funds aim to consolidate existing debt and facilitate future growth opportunities for Silver Stem in a competitive market. Rainbow's President expressed optimism regarding Silver Stem's continued success, highlighting its profitable operations despite industry challenges.
BRT Apartments Corp. (NYSE:BRT) reported a net loss of $4.2 million for Q4 2022, with a full-year net income of $50 million, an increase from $29.1 million in 2021. The company announced 2023 guidance: net income per share projected between $0.09 and $0.20, FFO between $1.08 and $1.19, and AFFO between $1.50 and $1.61. Highlights include a 11.3% increase in Combined Portfolio NOI for 2022, equity proceeds of $9.9 million from stock sales, and completed joint venture buyouts totaling $105.9 million in multi-family properties. A quarterly dividend of $0.25 is declared for the first quarter of 2023.
BRT Apartments Corp. (NYSE:BRT), a real estate investment trust, will release its fourth quarter and full year 2022 financial results on March 14, 2023, following market close. The company will provide guidance for the full year 2023 results alongside the financial results. A conference call is scheduled for March 15, 2023, at 9:00 a.m. ET for a detailed review of the results and guidance. BRT currently owns or has interests in 29 multi-family properties with a total of 8,201 units across 11 states as of December 31, 2022. For more information, visit BRT's investor relations page.
FAQ
What is the current stock price of BRT Apartments (BRT)?
What is the market cap of BRT Apartments (BRT)?
What is BRT Apartments Corp's primary business focus?
How many properties does BRT Apartments Corp own or have interests in?
What is the company's financial condition as of the latest report?
What are some recent achievements of BRT Apartments Corp?
How does BRT Apartments Corp manage its properties?
When is the next investor conference call scheduled?
How can investors access BRT Apartments Corp's financial reports and updates?
What partnerships does BRT Apartments Corp have?
What is BRT Apartments Corp's strategy for property acquisitions?
Where can I find more information about BRT Apartments Corp?
