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 Maryland-incorporated real estate investment trust that focuses on multi-family residential properties. In its public communications, the company describes itself as a REIT that owns, operates and, to a lesser extent, holds interests in joint ventures that own multi-family properties, and it also makes preferred equity investments in joint ventures that own multi-family properties.
This news page aggregates company announcements and regulatory-related updates for BRT. Readers can find press releases about property acquisitions, such as the purchase of specific multi-family apartment complexes through joint ventures, as well as information about financing activities, including mortgage borrowings, refinancings and use of a corporate credit facility in connection with equity contributions to joint ventures.
The company also issues news releases about its quarterly dividends, stating the dividend amount per share and relevant record and payment dates, and in at least one case it has discussed the expected federal income tax treatment of a dividend. In addition, BRT announces the filing of its quarterly and annual reports with the Securities and Exchange Commission and provides high-level descriptions of the availability of financial statements and supplemental financial information.
Other news items include updates on management changes, such as the appointment or planned retirement of certain executive officers, which are also reflected in related Form 8-K filings. Investors and observers who follow BRT’s news can use this page to review the company’s own descriptions of its multi-family property portfolio, joint ventures, preferred equity investments, dividend declarations, financing transactions and governance developments over time.
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.