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. 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 announced the termination of its public offering of common stock, initially planned on May 10, 2021. Management deemed current volatile market conditions unsuitable for the offering. Consequently, no shares will be sold. The company was aiming to fund the purchase of a 41.9% interest in Bells Bluff, a 402-unit property in Nashville. Following the termination, funding will be sourced from available cash and a $15 million credit facility. As of April 30, 2021, the company's liquidity stood at approximately $45.49 million.
BRT Apartments Corp. (NYSE: BRT) has announced a public offering of 2,000,000 shares of its common stock, with an additional 300,000 shares available for underwriters. The proceeds from this offering will primarily fund the acquisition of a 41.9% interest in the Bells Bluff multi-family property in West Nashville, TN, along with efforts to repay debt and pursue further acquisition opportunities. RBC Capital Markets and UBS Investment Bank are managing the offering. The completion of the acquisition is subject to customary closing conditions.
BRT Apartments Corp. (NYSE:BRT) reported a net loss of $3.77 million for Q1 2021, a decrease from $4.83 million in the same period last year. Funds from Operations (FFO) increased to $6.03 million, reflecting positive contributions from insurance recoveries. Adjusted Funds from Operations (AFFO) also rose to $5.13 million, supported by improved operating margins. Significant portfolio performance improvements included a 5.2% increase in rental revenue from consolidated properties. The company recorded a 3.3% growth in same store NOIs and anticipates closing a $24.5 million property sale in May 2021.
BRT Apartments Corp. (NYSE:BRT) will release its financial results for Q1 2021 on May 6, 2021, after the market closes. A conference call with CEO Jeffrey A. Gould is scheduled for May 7, 2021, at 8:30 a.m. ET to discuss these results. Callers in the U.S. can dial 1-877-407-9208, while international callers should dial 1-201-493-6784. A replay of the conference call will be available from May 7 until May 21, 2021.
Investors can also access additional financial information via the company's website.
BRT Apartments Corp. reported a net loss of $3.30 million for Q4 2020, translating to $0.19 per diluted share. For the full year, net loss totaled $19.86 million or $1.16 per diluted share. Despite these losses, the company achieved 15.6% growth in AFFO year-over-year, driven by increased occupancy and rental revenues.
Rental revenues from consolidated properties grew 3.8% to $7.03 million in Q4 2020, while total expenses at consolidated properties decreased 2.9%. The company maintains a strong balance sheet with $19.89 million in cash as of December 31, 2020.
BRT Apartments Corp. (NYSE:BRT) has announced a quarterly dividend of $0.22 per share, which will be payable on April 7, 2021 to stockholders of record as of March 24, 2021. This decision reflects the company's ongoing commitment to returning value to its shareholders while maintaining a robust performance in its multi-family property investments.
BRT Apartments Corp. (NYSE:BRT) is set to release its fourth-quarter financial results for 2020 on March 11, 2021, after market close. The company, based in Great Neck, NY, specializes in multi-family real estate investments primarily in the Southeast U.S. and Texas. A conference call to discuss the results will take place the following day, March 12, 2021, at 8:30 a.m. ET. Investors can participate via telephone or through a live webcast on the company’s investor relations website.
BRT Apartments Corp. (NYSE:BRT) has declared a quarterly dividend of $0.22 per share on its common stock. This dividend is payable on January 7, 2021, to stockholders of record as of December 17, 2020. For federal income tax purposes, this dividend will be included in the 2021 taxable income.
BRT APARTMENTS CORP. (NYSE:BRT) reported a net loss of $7.48 million, or $0.44 per diluted share, for Q3 2020, compared to a profit of $3.27 million in Q3 2019. The loss included a $3.64 million impairment charge. However, Funds from Operations (FFO) increased to $4.56 million from $1.96 million year-over-year, driven by lower interest expenses and an insurance recovery. The average rental rate rose to $1,085 per month, with occupancy improving to 95.8%. Despite the pandemic's challenges, BRT collected 98% of billed rents and aims to resume property upgrades in 2021.
BRT Apartments Corp. (NYSE:BRT) announced its upcoming financial results for Q3 2020, set to be revealed after market close on November 5, 2020. A conference call will follow on November 6, 2020, at 8:30 a.m. ET, led by CEO Jeffrey A. Gould. Investors can participate via phone or webcast. A replay of the call will be available starting November 6, 2020, at 11:30 a.m. ET until November 20, 2020. For detailed financial insights, the Company encourages reviewing its Q3 2020 10-Q report, which will be accessible through its investor relations website.