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BRT Apartments (BRT) investor relations material
BRT Apartments Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Owns 21 wholly-owned multifamily properties (5,420 units) and interests in 10 unconsolidated joint ventures (2,891 units), with most assets in the Southeast U.S. and Texas.
Entered agreement to acquire a 336-unit property in Florida for $80M, expected to close in Q1 2027, and anticipates a $33M joint venture acquisition in Houston, TX.
Refinanced a $27.8M mortgage with a new $47.9M loan at 5.38% interest; further refinancings expected to increase debt and interest expense.
Financial highlights
Q2 2026 total revenues rose 1.1% year-over-year to $24.5M; six-month revenues up 1.6% to $49.1M.
Net loss attributable to common stockholders was $3.2M for Q2 2026 ($0.19/share) and $5.9M for six months ($0.35/share).
FFO per diluted share was $0.29 for Q2 and $0.62 for six months; AFFO per diluted share was $0.36 for Q2 and $0.75 for six months.
Same store NOI for Q2 2026 was $12.4M, up $78K year-over-year; six-month same store NOI was $25.8M, up $725K.
Outlook and guidance
Expects higher mortgage interest expense as $51.4M and $103.1M of debt mature in 2026 and 2027, with refinancing at higher rates.
Operating cash flow and available cash insufficient to fully fund $259.1M of balloon payments due through 2028; may require equity issuance or property sales.
Board intends to maintain REIT status and quarterly dividend, but will evaluate payout based on liquidity and capital needs.
- Revenue and NOI rose, but net loss widened amid rising costs and looming debt maturities.BRT
Q1 2026 - Abstentions and broker non-votes will not impact voting results for key annual meeting proposals.BRT
Proxy filing - Shelf registration allows up to $150M in securities for property acquisitions and corporate use.BRT
Registration filing - Annual meeting to vote on directors, executive pay, auditor, and new incentive plan.BRT
Proxy filing - AFFO per share rose to $1.45 in 2025, with stable occupancy and expanded share buybacks.BRT
Q4 2025 - Shareholders to elect four directors and ratify Ernst & Young LLP as auditor at the annual meeting.BRT
Proxy Filing - Q3 2025 saw a net loss, stable AFFO, and portfolio growth amid rising costs and tight liquidity.BRT
Q3 2025 - Q2 2025 saw modest revenue growth, higher net loss, and stable FFO/AFFO per share amid market headwinds.BRT
Q2 2025 - Revenue up, but higher costs led to a larger net loss and lower FFO/AFFO per share.BRT
Q3 2024
Next BRT Apartments earnings date
Next BRT Apartments earnings date
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