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 Q2 2023

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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.

BRT (BRT) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

BRT (BRT) Upgraded to Strong Buy: Here's Why

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GREAT NECK, N.Y., Sept. 15, 2022 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) entered into an amended credit facility which increases to up to a total of $60 million the amount available to be borrowed for the acquisition of, and repayment of mortgage debt on, multi-family properties, increases the amount available to be borrowed for operating expenses to $25 million, and extends the term of the facility to September 2025. The amended facility also reduces the interest rate to the prime rate, subject to a floor of 3.5%, and requires compliance with certain additional financial covenants. Net proceeds received from the sale, financing or refinancing of BRT's wholly-owned properties are required to be used to repay amounts outstanding under the facility.

BRT Apartments Corp. Expands Financial Flexibility With Amended Credit Facility

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GREAT NECK, N.Y., Sept. 14, 2022 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) announced that its Board of Directors declared a quarterly dividend of $0.25 per share. The dividend is payable October 7, 2022, to stockholders of record on September 27, 2022.

BRT Apartments Corp. Announces Dividend

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GREAT NECK, N.Y., Sept. 01, 2022 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) today announced that the unconsolidated joint venture in which it holds an 80% equity interest, completed the sale of a 204-unit multifamily property, Waters' Edge, located in Columbia, South Carolina, for approximately $32.4 million. BRT generated an approximate 20% IRR from this property over the six years it was owned. BRT received net proceeds of approximately $13.3 million from the sale and estimates it will recognize an $11.4 million gain and $385,000 of mortgage prepayment charges, representing its share of such gain and charge. In 2021, this property contributed $66,000 of equity in loss of unconsolidated joint ventures.

BRT Apartments Corp. Completes Sale for $11.4 Million Gain

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BRT Apartments Corp. (NYSE:BRT ) Q2 2022 Earnings Conference Call August 9, 2022 8:30 AM ET Company Participants Stephen Swett - Investor Relations Jeffrey Gould - President and Chief Executive Officer George Zweier - Chief Financial Officer Ryan Baltimore - Chief Operating Officer David Kalish - Senior Vice President Conference Call Participants Gaurav Mehta - EF Hutton Craig Kucera - B. Riley Securities Michael Gorman - BTIG Operator Thank you for standing by.

BRT Apartments Corp. (BRT) CEO Jeffrey Gould on Q2 2022 Results - Earnings Call Transcript

BRT (BRT) delivered FFO and revenue surprises of -5.13% and 8.14%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

BRT Realty (BRT) Q2 FFO Miss Estimates

– Net Income and AFFO Per Diluted Share Increase 461.8% and 19.4%, Respectively –

BRT Apartments Corp. Reports Second Quarter Results for 2022

GREAT NECK, N.Y., July 26, 2022 (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 of 2022 after the market close on Monday, August 8, 2022.

BRT Apartments Corp. Announces Second Quarter 2022 Earnings Release

GREAT NECK, N.Y., July 12, 2022 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) today announced it completed the purchase, for an aggregate of $36.2 million, of the remaining approximate 25% interest held by its joint venture partner in Civic Center I and Civic Center II, two multi-family properties with an aggregate of 776 units located in Southaven, Mississippi. In 2021, these properties contributed an aggregate of $1.1 million in equity in earnings of unconsolidated joint venture. As a result of the completion of this purchase, BRT will include on its consolidated balance sheet the approximate $57.4 million of mortgage debt currently on these properties, with a weighted average interest rate of 3.97% and 3.9 years of weighted average remaining term to maturity.

BRT Apartments Corp. Completes Purchase of Remaining 25% Interest in Partnership That Owns Civic Center I and Civic Center II

As part of its portfolio enhancing and expansion efforts, BRT Apartments (BRT) acquires its remaining interest in the entity that owns Grove at River Place. It also disposed of The Vive.

BRT Apartments (BRT) Completes Buyout, Divests Property

– Purchases Remaining 20% Interest in Partnership that Owns Grove at River Place –

BRT Apartments Corp. Completes Transactions

GREAT NECK, N.Y., June 15, 2022 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) today announced that its stockholders will have an opportunity to participate in its Dividend Reinvestment Plan (the “Plan”). BRT's board of directors has adopted the Plan to provide stockholders of record on the applicable record date with the opportunity to designate all or a portion of the cash dividends they are entitled to receive on their shares of common stock for reinvestment in additional shares of the Company's common stock.

BRT Apartments Corp. Announces Initiation of Dividend Reinvestment Plan

– Expects to Realize in Excess of a $16 million Gain on Sale –

News for BRT Apartments Stock (BRT)