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BRT Apartments Corp. reports developments as a real estate investment trust focused on multifamily apartment properties. The company owns and operates apartment assets directly and through unconsolidated joint ventures, and it also holds preferred equity investments in multifamily properties.
Recurring news includes quarterly and annual financial statement filings, supplemental property information, dividends, share repurchase authorizations, mortgage refinancings, apartment acquisitions and management or accounting appointments. Property and financing updates center on BRT’s multifamily portfolio, mortgage debt, credit facility activity and capital allocation actions tied to its REIT structure.
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.
BRT Apartments Corp. (NYSE:BRT) provided a business update highlighting the strong performance of the multi-family rental sector amid COVID-19. As of May 18, 2020, the company collected 96% of rents from its properties for May, consistent with April's collection rates. BRT is actively working with residents facing economic challenges to establish fair payment plans. All corporate staff remain employed and remote work procedures are in place. The company is current on financial obligations despite uncertainties related to the pandemic and its impact on operations.