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BRT BRT Apartments

BRT Apartments Corp. operates as a real estate investment trust. The firm engages in the ownership, operation and development of multi-family properties. It operates through the following segments: Multi-Family Real Estate and Other Real Estate. The Multi-Family Real Estate segment comprises of the ownership, operation and development of multi family properties. The Other Real Estate segment includes activities related to the ownership, operation and development of other real estate assets. The company was founded in June 1972 and is headquartered in Great Neck, NY.

Company profile

Ticker
BRT
Exchange
CEO
Jeffrey A. Gould
Employees
Incorporated
Location
Fiscal year end
Former names
BRT REALTY TRUST, BRT Realty Trust
SEC CIK
IRS number
132755856

BRT stock data

(
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Calendar

31 Mar 21
12 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Sep 18 Sep 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 28.69M 28.69M 28.69M 28.69M 28.69M 28.69M
Cash burn (monthly) (positive/no burn) 311.08K 639.67K 1.12M 10K 146.25K
Cash used (since last report) n/a 1.06M 2.19M 3.83M 34.17K 499.73K
Cash remaining n/a 27.62M 26.5M 24.85M 28.65M 28.19M
Runway (months of cash) n/a 88.8 41.4 22.2 2865.1 192.7

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Jan 21 Isaac Kalish Common Stock Grant Aquire A No No 0 8,900 0 69,066
8 Jan 21 Elie Weiss Common Stock Grant Aquire A No No 0 4,000 0 67,471
8 Jan 21 Fredric H Gould Common Stock Grant Aquire A No No 0 11,456 0 335,307
8 Jan 21 Israel Rosenzweig Common Stock Grant Aquire A No No 0 2,803 0 424,898
8 Jan 21 David Kalish Common Stock Grant Aquire A No No 0 7,864 0 196,747

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

31.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 72 73 -1.4%
Opened positions 7 9 -22.2%
Closed positions 8 8
Increased positions 28 23 +21.7%
Reduced positions 22 29 -24.1%
13F shares
Current Prev Q Change
Total value 120.11M 65.03M +84.7%
Total shares 5.44M 5.55M -2.1%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK Blackrock 1.03M $15.69M +5.0%
Renaissance Technologies 682.62K $10.38M -4.4%
Vanguard 625.19K $9.5M +0.7%
Oppenheimer & Close 549.81K $8.36M +0.3%
STT State Street 318.93K $4.91M +2.8%
Geode Capital Management 190.3K $2.89M +3.1%
First Manhattan 176.99K $2.69M -1.0%
State of New Jersey Common Pension Fund D 162.5K $2.47M +9.1%
Relative Value Partners 151.51K $2.34M +20.6%
NTRS Northern Trust 129.47K $1.97M -18.9%
Largest transactions
Shares Bought/sold Change
BLK Blackrock 1.03M +49.49K +5.0%
Arrowstreet Capital, Limited Partnership 0 -48.79K EXIT
Alps Advisors 43.15K +43.15K NEW
Martingale Asset Management L P 0 -38.72K EXIT
WINTON 15.21K -35.55K -70.0%
Renaissance Technologies 682.62K -31.6K -4.4%
Bailard 0 -30.35K EXIT
NTRS Northern Trust 129.47K -30.26K -18.9%
IVZ Invesco 25.08K -28.87K -53.5%
Albert D Mason 86.54K -25.9K -23.0%

Financial report summary

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Risks
  • The ongoing COVID-19 pandemic, the responses thereto and the economic consequences flowing therefrom, may adversely impact our business, income, cash flow, results of operations, financial condition, liquidity, prospects, ability to service our debt obligations, and our ability to pay cash dividends to our stockholders.
  • Most of our multi-family properties are located in the Southeast and Texas which makes us susceptible to adverse developments in such markets.
  • Risks involved in conducting real estate activity through joint ventures.
  • The failure of third party property management companies to properly manage our properties or obtain sufficient insurance coverage could adversely impact our results of operations.
  • Increasing real estate taxes, utilities and insurance premiums may negatively impact operating results.
  • We may not be able to compete with competitors, many of which have greater financial and other resources than we possess.
  • Our operating results are significantly influenced by demand for multi-family properties generally, and a decrease in such demand will likely have a greater adverse effect on our revenues than if we owned a more diversified real estate portfolio.
  • Our value-add activities involve greater risks than more conservative investment strategies.
  • Increased competition and increased affordability of residential homes could limit our ability to retain our tenants or increase or maintain rents.
  • Our operating results and assets may be negatively affected if our insurance coverage is insufficient to compensate us for casualty events occurring at our properties.
  • Development, redevelopment and construction risks could affect our operating results.
  • The expiration of our $10 million credit facility in April 2021 will adversely affect our liquidity
  • We may not have sufficient funds to make required or desired capital improvements.
  • Our acquisition, development and value-add activities are limited by the funds available to us.
  • If we are required to make payments under any “bad boy” carve out guarantees that we have provided in connection with certain mortgages and related loans, our business and financial results could be materially adversely affected.
  • We could be negatively impacted by changes in our relationship with Fannie Mae or Freddie Mac, changes in the condition of Fannie Mae or Freddie Mac and by changes in government support for multi-family housing.
  • The phasing out of LIBOR after 2021 may adversely affect our cash flow and financial results.
  • Liabilities relating to environmental matters may impact the value of our properties.
  • Compliance with REIT requirements may hinder our ability to maximize profits.
  • Because real estate investments are illiquid, we may not be able to reconfigure our portfolio on a timely basis.
  • We may incur impairment charges in 2021.
  • Our transactions with affiliated entities involve conflicts of interest.
  • Senior management and other key personnel are critical to our business and our future success may depend on our ability to retain them.
  • Certain provisions of our Articles of Incorporation, our Bylaws and Maryland law may inhibit a change in control that stockholders consider favorable and could also limit the market price of our common stock
  • The stock market is volatile, and fluctuations in our operating results, removal from various indices and other factors could cause our stock price to decline.
  • A material weakness in our internal control over financial reporting was identified and has not been remediated.
Management Discussion
  • Item 7.    Management's Discussion and Analysis of Financial Condition and Results of Operations.
  • We are an internally managed real estate investment trust, also known as a REIT, that is focused on the ownership, operation and development of multi-family properties. Generally, these properties are owned by unconsolidated joint ventures in which we contributed 65% to 80% of the equity. At December 31, 2020: (i) eight multi-family properties with an aggregate of 1,880 units and a carrying value of $153.6 million are wholly-owned by us; and (ii) we have ownership interests, through unconsolidated entities, in 31 multi-family properties with an aggregate of 9,162 units, and the carrying value of our net equity investment therein is $169.4 million. These 39 properties are located in 11 states; most of our properties are located in the Southeast United States and Texas.
  • The Impact of the COVID-19 Pandemic; 2020 and Recent Developments.
Content analysis
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