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 declared a quarterly dividend of $0.25 per share, payable on October 2, 2024, to stockholders of record as of September 24, 2024. The company estimates that if it doesn't sell any multi-family properties this year, substantially all of its 2024 dividends will likely be treated as a return of capital for federal income tax purposes. This announcement demonstrates BRT's commitment to providing regular returns to its shareholders, while also offering potential tax benefits.
BRT Apartments Corp. (NYSE:BRT), a real estate investment trust specializing in multi-family properties, has filed its quarterly report on Form 10-Q for Q2 2024 with the SEC. The financial statements and supplemental information are now accessible on the company's investor relations website under 'Financials – Quarterly Results'. As of June 30, 2024, BRT owns or has interests in 29 multi-family properties comprising 7,947 units across 11 states. This filing provides investors with updated financial data and operational insights into BRT's portfolio performance and market position in the multi-family real estate sector.
BRT Apartments Corp. (NYSE:BRT), a real estate investment trust specializing in multi-family properties, has announced its intention to file its Form 10-Q for the second quarter of 2024 on or around August 7, 2024. The report will cover the financial results for the quarter ended June 30, 2024. As of that date, BRT owns or has interests in 29 multi-family properties comprising 7,947 units across 11 states. This filing will provide investors and analysts with updated information on the company's financial performance and property portfolio.
BRT Apartments Corp. (NYSE:BRT) has declared a quarterly dividend of $0.25 per share, payable on July 9, 2024, to shareholders of record as of June 25, 2024. The company estimates that a significant portion of its 2024 dividends will be considered a return of capital for federal income tax purposes, provided it does not sell any multi-family properties this year.
BRT Apartments Corp. has filed its first quarter 2024 financial statements, showcasing its real estate investment trust operations owning multi-family properties. The company's quarterly report on Form 10-Q for the quarter ended March 31, 2024, is available on the investor relations website. BRT owns 29 multi-family properties with 7,947 units in 11 states as of March 31, 2024.
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