Brt Apartments Corp Stock Price, News & Analysis

BRT Apartments Corp. (NYSE:BRT) reported strong financial results for Q3 2021, with a net income of $28.11 million or $1.54 per diluted share, compared to a net loss of $7.48 million in Q3 2020. The company experienced a significant gain of $34.98 million from property sales, contributing to an 8.9% increase in Net Operating Income (NOI) across its portfolio. Additionally, BRT reduced its mortgage debt by $31.9 million, strengthening its capital structure. The firm continues to pursue advantageous buyouts of its joint venture partners to enhance long-term value for shareholders.

BRT APARTMENTS CORP. (NYSE:BRT), a multi-family real estate investment trust, will announce its Q3 2021 financial results after the market closes on November 8, 2021. A conference call scheduled for November 9, 2021, at 8:30 a.m. ET, will allow investors to review the results. The call will be led by CEO Jeffrey A. Gould. Interested parties can access the results on the company's investor relations website and through a replay available until November 23, 2021.

BRT Apartments Corp. (NYSE:BRT) announced a quarterly dividend of $0.23 per share, an increase of $0.01 or 4.5% from the previous payment. The dividend is set to be paid on October 7, 2021, to stockholders on record as of September 24, 2021. This move reflects the company's continuing commitment to provide income to shareholders while operating in the multi-family property sector through direct ownership and joint ventures.

BRT Apartments Corp. (NYSE:BRT) announced the acquisition of the remaining 41.9% interest in Bells Bluff for approximately $28 million, making it a wholly-owned property. Additionally, BRT has agreed to buy the remaining 10% interest in Crestmont at Thornblade for $1.6 million, expected to close by the end of Q3 2021. These acquisitions strengthen BRT's presence in the growing Southeast markets of Nashville and Greenville, enhancing its multi-family portfolio.

BRT Apartments Corp. (NYSE:BRT) reported a net income of $6.03 million, or $0.34 per diluted share, for Q2 2021, marking a recovery from a net loss of $4.25 million in Q2 2020. Funds from Operations (FFO) increased by 21% year-over-year to $5.06 million, while Adjusted Funds from Operations (AFFO) rose by 16% to $5.49 million, driven by a 4.9% increase in net operating income (NOI). The company is actively reducing debt and pursuing multi-family property acquisitions. BRT expects to recognize approximately $30 million in gains from recent property sales in Q3 2021.

BRT Apartments Corp. (NYSE:BRT) announced the sale of two multi-family properties: Parc at 980 in Georgia and The Avenue Apartments in Florida. The properties, owned through a joint venture, yielded a remarkable internal rate of return (IRR) of 24.9% over three years. Following the sale, BRT anticipates recognizing a gain of approximately $30 million in equity earnings, despite a $4.2 million mortgage prepayment charge. CEO Jeffrey A. Gould highlighted the strengthening of financial flexibility through these sales, intending to fund the acquisition of Bells Bluff in Nashville with the proceeds.

BRT Apartments Corp. (NYSE:BRT) will release its financial results for Q2 2021 after the market closes on August 5, 2021. A conference call will follow on August 6, 2021, at 8:30 a.m. ET, hosted by CEO Jeffrey A. Gould, providing insights into the financial performance. Investors are encouraged to participate using the provided numbers and options for international callers. A replay of the call will be available from August 6 to August 20, 2021. BRT is a real estate investment trust focused on multi-family properties primarily in the Southeast U.S. and Texas.

BRT Apartments Corp. (NYSE:BRT) has announced contracts to sell two multi-family properties for approximately $226 million. The expected net gain from these sales is between $28 million and $30 million. The properties, Parc at 980 and The Avenue Apartments, will provide net proceeds of around $46 million after debt repayment and costs. BRT plans to use these funds to reduce debt and finance the acquisition of interests in Bells Bluff, TN. Additionally, BRT will sell its interests in two properties in St. Louis for $3 million, resulting in an estimated impairment charge of $510,000.

BRT Apartments Corp. (NYSE:BRT) has declared a quarterly dividend of $0.22 per share on its common stock. This dividend is scheduled to be paid on July 9, 2021, to stockholders on record as of June 25, 2021. BRT is a real estate investment trust that owns and operates multi-family properties, providing opportunities for investors in the real estate sector.