Company Overview - BRT Apartments Corp. (NYSE: BRT) is a multifamily residential REIT that has been operating since 1972, yet it remains overlooked by many market participants, presenting potential opportunities for analysts to explore [1]. Market Position - The company operates in the multifamily residential sector, which is a significant area of focus for investors looking for stable income and growth potential [1].

Core Viewpoint - BRT Apartments has underperformed the Vanguard Real Estate Index Fund in 2024 but is expected to outperform going forward due to attractive valuation metrics and potential benefits from Fed rate cuts [1][10]. Company Overview - BRT Apartments is a residential REIT focused on the Sun Belt region, with approximately 81% of net operating income (NOI) from its consolidated portfolio and 19% from joint ventures [2]. - The consolidated portfolio's NOI is primarily derived from Mississippi (16%), Tennessee (14.6%), and Alabama (12.2%) [2]. Operational Overview - In Q2 2024, BRT reported an adjusted FFO of $0.35 per share, a 5% decrease year-over-year, influenced by adjustments for straight-line rent and rent concessions [5]. - Occupancy remained flat year-over-year at 94.3%, with net operating income increasing by 1.8% year-over-year [6]. - BRT's operational performance is weaker compared to peers like Independence Realty Trust, with lower occupancy growth and NOI growth [7]. 2024 Outlook Commentary - The company anticipates that new supply will limit rent growth until the second half of 2024, focusing on maintaining stable occupancy until rental rates can increase [8]. - A more favorable transaction environment is expected in the latter half of 2024, particularly for smaller operators facing capital challenges [8]. Capital Structure - As of Q2 2024, BRT's net debt stood at $553 million, representing 62% of its $897 million enterprise value [9]. - The weighted average interest rate for BRT's debt is 4.03%, with a significant portion of floating-rate debt that will benefit from anticipated Fed rate cuts [11]. Prospects and Valuation - BRT is projected to deliver an adjusted FFO of approximately $1.35 to $1.40 per share in 2024, translating to an attractive adjusted FFO multiple of about 12.75 [10]. - The market-implied cap rate based on NOI is around 7.1%, which is favorable compared to peers [10]. - There is potential for improvement in general and administrative expenses, which could make BRT an acquisition target in the future [10].

分组1 - BRT Realty (BRT) reported quarterly funds from operations (FFO) of $0.35 per share, missing the Zacks Consensus Estimate of $0.37 per share, and down from $0.37 per share a year ago, representing an FFO surprise of -5.41% [1] - The company posted revenues of $23.86 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.76%, compared to year-ago revenues of $23.32 million [2] - BRT has surpassed consensus revenue estimates two times over the last four quarters [2] 分组2 - BRT shares have lost about 3.8% since the beginning of the year, while the S&P 500 has gained 11.5% [3] - The company's FFO outlook is crucial for investors to assess future stock performance, with current consensus FFO estimates at $0.38 for the coming quarter and $1.50 for the current fiscal year [4][7] - The Zacks Industry Rank for REIT and Equity Trust - Residential is currently in the top 32% of over 250 Zacks industries, indicating a favorable industry outlook [8]

GREAT NECK, N.Y., Aug. 09, 2024 (GLOBE NEWSWIRE) -- BRT APARTMENTS CORP. (NYSE:BRT), a real estate investment trust that owns, operates, and, to a lesser extent, holds interests in joint ventures that own multi-family properties, announced that it has filed its quarterly report on Form 10-Q for the quarter ended June 30, 2024 with the Securities and Exchange Commission. The financial statements and supplemental financial information can be accessed on the Company's investor relations website under the capti ...

Exhibit 99.1 | --- | --- | |--------------------------------------------------------------|--------------------------| | | | | SUPPLEMENTAL INFORMATION FOR THREE JUNE 30, 2024 | FINANCIAL MONTHS ENDED | August 9, 2024 60 Cutter Mill Rd., Great Neck, NY 11021 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS We consider some of the information set forth herein to contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 001-07172 BRT APARTMENTS CORP. (Exact name of Registrant as specified in its charter) Maryland 13-2755856 (State or other jurisdiction of (I.R.S. Employer Identif ...

BRT is a real estate investment trust that owns, operates and, to a lesser extent, holds interests in joint ventures that own multi-family properties. As of June 30, 2024, BRT owns or has interests in 29 multi-family properties with 7,947 units in 11 states. For additional information on BRT's operations, activities and properties, please visit its website at www.brtapartments.com. BRT APARTMENTS CORP. 60 Cutter Mill Road Suite 303 Great Neck, New York 11021 Telephone: (516) 466-3100 Email: investors@BRTapa ...

About BRT Apartments Corp: BRT is a real estate investment trust that owns, operates and, to a lesser extent, develops multi-family properties. Additional information on BRT, its operations and portfolio, is available at BRT's website at: http://brtapartments.com. Interested parties are encouraged to review the reports BRT files with the Securities and Exchange Commission for additional information. GREAT NECK, N.Y., June 11, 2024 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) announced that its Board ...

About BRT Apartments Corp: BRT APARTMENTS CORP. 60 Cutter Mill Road Suite 303 Great Neck, New York 11021 Telephone (516) 466-3100 Telecopier (516) 466-3132 http://brtapartments.com GREAT NECK, N.Y., June 11, 2024 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) announced that its Board of Directors declared a quarterly dividend of $0.25 per share. The dividend is payable July 9, 2024, to stockholders of record at the close of business on June 25, 2024. BRT estimates that if it does not sell any multi-fam ...

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