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.
Stay informed with the latest news and developments from BRT Apartments Corp, a real estate investment trust specializing in multi-family residential properties across the Sun Belt region of the United States. This news feed delivers timely updates on portfolio acquisitions, property developments, operational performance, and strategic initiatives from this NYSE-listed apartment REIT.
BRT Apartments Corp focuses on owning, operating, and developing garden apartments, mid-rise buildings, and townhome-style residential communities primarily in the Southeastern United States and Texas. The company pursues a value-add investment strategy, acquiring properties with potential for operational improvements and targeted renovations to enhance value and support rental growth. News coverage includes property transactions, joint venture activities, renovation program updates, and market expansion efforts.
As a publicly traded REIT, BRT Apartments Corp regularly communicates with investors and stakeholders through press releases covering quarterly results, dividend declarations, portfolio updates, and significant corporate events. The company's geographic concentration in high-growth Sun Belt markets positions it to benefit from demographic trends including population migration and employment growth in these regions.
Follow this page to track developments affecting BRT's multi-family property portfolio, including new acquisitions, disposition activities, capital raising initiatives, and strategic partnerships. Whether monitoring the company's expansion into new markets or tracking operational performance across its existing portfolio, this news feed provides comprehensive coverage of all material announcements from BRT Apartments Corp.
BRT Apartments Corp. (NYSE:BRT), a real estate investment trust, will announce its financial results for Q1 2023 on May 8, 2023, post-market. The company has interests in 29 multi-family properties with a total of 8,201 units across 11 states as of March 31, 2023. Following the earnings release, a conference call will be held on May 9, 2023, at 9:00 a.m. ET, where BRT will review its performance and offer an outlook for 2023.
Investors can participate in the call by dialing 1-877-300-8521 (U.S. and Canada) or 1-412-317-6026 (international), while a live webcast will also be available on the company’s investor relations website. A playback of the call will be accessible later through various domestic and international numbers starting on May 9, 2023.
On March 30, 2023, Rainbow Realty Group and MJ Real Estate Investment Trust announced a significant loan closing of $4.50 million, secured by five properties in Colorado. The properties are operated by Silver Stem Fine Cannabis, a notable player in the cannabis sector with 10 dispensaries and two cultivation sites in Colorado. The funds aim to consolidate existing debt and facilitate future growth opportunities for Silver Stem in a competitive market. Rainbow's President expressed optimism regarding Silver Stem's continued success, highlighting its profitable operations despite industry challenges.
BRT Apartments Corp. (NYSE:BRT) reported a net loss of $4.2 million for Q4 2022, with a full-year net income of $50 million, an increase from $29.1 million in 2021. The company announced 2023 guidance: net income per share projected between $0.09 and $0.20, FFO between $1.08 and $1.19, and AFFO between $1.50 and $1.61. Highlights include a 11.3% increase in Combined Portfolio NOI for 2022, equity proceeds of $9.9 million from stock sales, and completed joint venture buyouts totaling $105.9 million in multi-family properties. A quarterly dividend of $0.25 is declared for the first quarter of 2023.
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