GREAT NECK, N.Y., May 08, 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 March 31, 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 ...

SUPPLEMENTAL FINANCIAL INFORMATION FOR THREE MONTHS ENDED MARCH 31, 2024 60 Cutter Mill Rd., Great Neck, NY 11021 The following factors, among others, could cause our actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking statements: • challenges in acquiring properties (including challenges in buying properties directly without the participation of joint venture partners and the limited number of multi-family property acquisition opportunitie ...

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒ Indicate the number of shares outstanding of each of the issuer's classes of stock, as of the latest practicable date. 18,640,528 Shares ...

LionHShares of multi-family REIT BRT Apartments Corp. (NYSE:BRT) have dropped nearly 30% of their value since August 2022 as higher rates and oversupply in parts of the Sun Belt markets have weighed. Those undercurrents have slowed a management team that had been active refurbishing distressed properties, selling them for a profit, and employing the funds to buy out its partners. With no meaningful mortgage rollovers until 2026, a repurchase program fueled by asset sales, a near 5.4% yield, the recent i ...

Secured by an industrial and modernized greenhouse property in the Hudson Valley, the acquisition loan will be utilized to help expand an existing market-leading New York operation.   NEW YORK, May 1, 2024 /PRNewswire/ -- Rainbow Realty Group IV, LLC ("Rainbow"), in collaboration with Rainbow Realty Group II, LLC, GEMA CP Fund I LLC, and MJ Real Estate Investment Trust, announced the closing of a senior mortgage secured by a highly advanced cannabis cultivation property in Hudson Valley, New York (the "Prop ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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 (State or other jurisdiction of incorporation or organiza ...

BRT Apartments Corp. (NYSE:BRT) Q4 2023 Earnings Conference Call March 13, 2024 9:00 AM ET Company Participants Tripp Sullivan – Investor Relations Jeffrey Gould – President and Chief Executive Officer Conference Call Participants Michael Gorman – BTIG Barry Oxford – Colliers Operator Good day, and welcome to BRT Apartments Corp’s Fourth Quarter and Year-End Earnings Conference Call. Today’s conference is being recorded. [Operator Instructions] After today’s presentation, there will be an opportunity to ask ...

Financial Performance - Net loss attributable to common stockholders for Q4 2023 was $1.7 million, or $(0.11) per diluted share, compared to a net loss of $4.2 million, or $(0.22) per diluted share, in Q4 2022[17]. - BRT reported a net loss of $1.7 million, or $(0.11) per diluted share, for Q4 2023, compared to a net income of $50.0 million, or $2.66 per diluted share, in Q4 2022[32]. - Funds from Operations (FFO) for 2023 were $22.6 million, or $1.19 per diluted share, down from $23.2 million, or $1.24 per diluted share, in 2022[35]. - Adjusted Funds from Operations (AFFO) for 2023 were $28.9 million, or $1.52 per diluted share, consistent with $28.4 million, or $1.52 per diluted share, in 2022[35]. - The company reported a net loss attributable to common stockholders of $(1.737) million for the three months ended December 31, 2023, compared to a loss of $(4.219) million in the same period of 2022[155]. - Total revenues for the three months ended December 31, 2023, were $23,508, compared to $22,711 for the same period in 2022, representing a year-over-year increase of 3.5%[67]. - Total revenues for the twelve months ended December 31, 2023, reached $93,617, up from $70,527 in 2022, marking a significant increase of 32.6%[67]. - Total revenues for the twelve months ended December 31, 2023, reached $44,785 million, compared to $21,706 million for the previous year, indicating a 106.5% growth[158]. Operational Metrics - Combined Portfolio NOI for Q4 2023 increased by 6.4% to $16.0 million, driven by increased rental rates and prior-year expenses related to a December 2022 blizzard[17]. - Average occupancy for the Combined Portfolio was 93.4% in Q4 2023, down from 94.7% in the same period last year[17]. - Average monthly rents in Q4 2023 increased by 4.2% compared to the same period last year[17]. - The average occupancy rate for the quarter was 93.4%, slightly down from 94.7% in the previous year[62]. - The average monthly rental revenue per occupied unit increased to $1,404 in 2023, compared to $1,347 in 2022[62]. - The average occupancy rate across the portfolio was 93.8% for the twelve months ended December 31, 2023[83]. - The weighted average occupancy across the portfolio was 94.2%[107]. - The weighted average monthly rent per occupied unit was $1,343[107]. Shareholder Returns - The Board of Directors declared a quarterly dividend of $0.25 per share, payable on April 4, 2024[20]. - The company declared a dividend of $0.25 per share for Q1 2024, consistent with the previous quarter[37]. Capital Management - At December 31, 2023, BRT's available liquidity was approximately $83.5 million, consisting of $23.5 million in cash and $60.0 million available under its credit facility[19]. - The company repurchased a total of 779,423 shares for an investment of $14.4 million in 2023, with an additional 123,061 shares repurchased in Q1 2024[16]. - The company repurchased 206,105 shares in Q4 2023 at an average price of $17.53, totaling 779,423 shares repurchased in 2023 at an average price of $18.47[32]. - BRT's debt to enterprise value ratio increased to 65% in 2023, up from 62% in 2022[23]. - The company has a total of 7,707 units in its combined portfolio, which includes consolidated and unconsolidated properties[112]. Future Outlook - The company anticipates a more favorable transaction environment in the second half of 2024, with potential opportunities for asset acquisitions[21]. - The company plans to continue focusing on market expansion and enhancing operational efficiencies to drive future growth[67]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and tenant satisfaction[147]. Joint Ventures and Earnings - Equity in earnings from unconsolidated joint ventures for Q4 2023 was $588,000, compared to $580,000 in Q4 2022[17]. - Equity in earnings from unconsolidated joint ventures was $588,000 in Q4 2023 and $2.3 million for the full year 2023[32]. - The company reported equity in earnings from unconsolidated joint ventures of $588 for the three months ended December 31, 2023, compared to $580 in the same period of 2022[67]. - Equity in earnings of joint ventures for the twelve months ended December 31, 2023, was $126 million, compared to $(1) million in the previous year[158]. Expenses and Liabilities - Total expenses for the three months ended December 31, 2023, were $25,742, down from $27,628 in the same period of 2022, a decrease of 6.8%[67]. - The company reported a total liability of $481,518 million as of December 31, 2023, compared to $482,546 million in 2022[48]. - The accumulated deficit increased to $(38,986) million in 2023 from $(23,955) million in 2022[48]. - The company experienced a 10.5% increase in operating expenses, which rose to $19.659 million in 2023 from $18.014 million in 2022[151]. Real Estate and Development - The company plans to renovate approximately 600 units over the next 24 months as part of its value-add program[75]. - New developments include Stono Oaks, located in Johns Island, SC, although specific metrics were not provided[1]. - The estimated average monthly rent increase from the value-add program is projected to be $90 per unit, with an estimated annualized ROI of 14%[75].

GREAT NECK, N.Y., Feb. 21, 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, today announced it will release financial results for the fourth quarter ended December 31, 2023 after the market closes on Tuesday, March 12, 2024. The Company will host a conference call and webcast to review its fourth quarter results with investors and other interested parties ...

NEW YORK, Feb. 1, 2024 /PRNewswire/ -- Rainbow Realty Group, LLC ("RRG" or "Rainbow") is proud to announce the launch of Rainbow Realty Group Fund IV LLC ("Fund IV"), a private real estate fund, offering investment opportunities under Rule 506(c) of Regulation D. It is accessible only to accredited investors and is expecting its first close by the end of February. Rainbow has a six-decade track record of success investing in the real estate industry through its sponsor and largest investor Gould Investors L ...