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) has announced a quarterly dividend of $0.22 per share, which will be payable on April 7, 2021 to stockholders of record as of March 24, 2021. This decision reflects the company's ongoing commitment to returning value to its shareholders while maintaining a robust performance in its multi-family property investments.
BRT Apartments Corp. (NYSE:BRT) is set to release its fourth-quarter financial results for 2020 on March 11, 2021, after market close. The company, based in Great Neck, NY, specializes in multi-family real estate investments primarily in the Southeast U.S. and Texas. A conference call to discuss the results will take place the following day, March 12, 2021, at 8:30 a.m. ET. Investors can participate via telephone or through a live webcast on the company’s investor relations website.
BRT Apartments Corp. (NYSE:BRT) has declared a quarterly dividend of $0.22 per share on its common stock. This dividend is payable on January 7, 2021, to stockholders of record as of December 17, 2020. For federal income tax purposes, this dividend will be included in the 2021 taxable income.
BRT APARTMENTS CORP. (NYSE:BRT) reported a net loss of $7.48 million, or $0.44 per diluted share, for Q3 2020, compared to a profit of $3.27 million in Q3 2019. The loss included a $3.64 million impairment charge. However, Funds from Operations (FFO) increased to $4.56 million from $1.96 million year-over-year, driven by lower interest expenses and an insurance recovery. The average rental rate rose to $1,085 per month, with occupancy improving to 95.8%. Despite the pandemic's challenges, BRT collected 98% of billed rents and aims to resume property upgrades in 2021.
BRT Apartments Corp. (NYSE:BRT) announced its upcoming financial results for Q3 2020, set to be revealed after market close on November 5, 2020. A conference call will follow on November 6, 2020, at 8:30 a.m. ET, led by CEO Jeffrey A. Gould. Investors can participate via phone or webcast. A replay of the call will be available starting November 6, 2020, at 11:30 a.m. ET until November 20, 2020. For detailed financial insights, the Company encourages reviewing its Q3 2020 10-Q report, which will be accessible through its investor relations website.
BRT Apartments Corp. (NYSE: BRT) has declared a quarterly dividend of $0.22 per share on its common stock. This dividend is scheduled for payment on October 12, 2020 to shareholders recorded as of September 25, 2020. BRT operates as a real estate investment trust, owning and managing multi-family properties, either directly or through joint ventures. More detailed financial information can be accessed through their official website.
BRT Apartments Corp. (NYSE:BRT) reported its Q2 2020 results, noting a net loss of $4.25 million, or $0.25 per diluted share, slightly better than Q2 2019's $4.32 million loss. Funds from Operations (FFO) increased to $4.19 million from $3.48 million, while Adjusted Funds from Operations (AFFO) rose to $4.71 million, reflecting effective management during the pandemic. Rental revenue from consolidated properties declined 6.2% to $6.66 million, while unconsolidated properties saw an 8.8% increase in rental revenue to $31.54 million. BRT maintains a robust liquidity position with approximately $32.86 million available.
BRT APARTMENTS CORP. (NYSE:BRT) will release its financial results for Q2 2020 on August 10, 2020, after market close. A conference call to discuss the results will be held on August 11, 2020, at 8:30 a.m. ET, led by CEO Jeffrey A. Gould. Interested parties can join through a dial-in or via live webcast on the company’s investor relations website. A replay of the conference will be available from August 11 until August 25, 2020. Investors are encouraged to review the upcoming Quarterly Report on Form 10-Q for insights into the quarter ended June 30, 2020.
BRT Apartments Corp. (NYSE:BRT) reported a net loss of $4.8 million for Q1 2020, slightly widened from a $4.2 million loss in Q1 2019. Funds from Operations (FFO) rose to $3.3 million, while Adjusted Funds from Operations (AFFO) increased to $4.0 million. The company successfully collected 98% of billed amounts for April/May and 95% for June 2020. As of June 15, BRT owns 39 properties with 11,042 units, despite a 2.9% drop in rental revenue to $6.7 million from $6.9 million. The company maintains a strong liquidity position with $33.4 million available, even amidst COVID-19 challenges.
BRT Apartments Corp. (NYSE:BRT) declared a quarterly dividend of $0.22 per share, payable on July 9, 2020, to stockholders of record as of June 26, 2020. This decision reflects the company’s ongoing commitment to providing shareholder returns. BRT is a real estate investment trust that owns and operates multi-family properties, either directly or through joint ventures. For more information about its operations, stakeholders can visit BRT's website.
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?
