Company profile

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

BRT stock data

(
)

Calendar

17 Jun 20
2 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 6.92M 6.92M 6.42M 7.29M
Net income -4.8M 6.11M 4.07M -4.27M
Diluted EPS -0.29 0.38 0.2 -0.27
Net profit margin -69.31% 88.24% 63.39% -58.64%
Operating income -2.92M -2.3M -1.99M -2M
Net change in cash -3.99M 13.33M 1.07M -3.49M
Cash on hand 18.71M 22.7M 9.37M 8.31M
Annual (USD) Dec 19 Dec 18
Revenue 27.76M 23.43M
Net income 1.69M 25.63M
Diluted EPS 0.05 1.68
Net profit margin 6.10% 109%
Operating income -8.37M -8.02M
Net change in cash -840K
Cash on hand 22.7M 23.54M
Cost of revenue 22.82M

Financial data from company earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
14 Jan 20 Louis C Grassi Common Stock Grant Aquire A 0 4,200 0 51,693
14 Jan 20 Fredric H Gould Common Stock Grant Aquire A 0 11,456 0 323,851
14 Jan 20 Ryan Baltimore Common Stock Grant Aquire A 0 8,000 0 33,600
14 Jan 20 Israel Rosenzweig Common Stock Grant Aquire A 0 3,055 0 422,095
14 Jan 20 Steven Rosenzweig Common Stock Grant Aquire A 0 3,590 0 40,308
34.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 80 83 -3.6%
Opened positions 10 10
Closed positions 13 5 +160.0%
Increased positions 29 42 -31.0%
Reduced positions 21 12 +75.0%
13F shares
Current Prev Q Change
Total value 92.08M 132.29M -30.4%
Total shares 5.96M 5.45M +9.3%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK BlackRock 995.84K $10.21M +1.7%
Renaissance Technologies 773.22K $7.93M +10.7%
Vanguard 699.38K $7.17M +12.2%
Oppenheimer & Close 477.87K $4.9M +14.6%
STT State Street 280.55K $2.92M +42.1%
First Manhattan 219.03K $2.25M -0.6%
Geode Capital Management 208.2K $2.13M +5.5%
NTRS Northern Trust 165.22K $1.69M +6.8%
Martingale Asset Management L P 128.94K $1.32M +35.7%
State of New Jersey Common Pension Fund D 119K $1.22M 0.0%
Largest transactions
Shares Bought/sold Change
Relative Value Partners 116.55K +89.19K +326.0%
Millennium Management 0 -86.29K EXIT
STT State Street 280.55K +83.09K +42.1%
Panagora Asset Management 63.11K -81.9K -56.5%
Arrowstreet Capital, Limited Partnership 79.94K +79.94K NEW
Vanguard 699.38K +76.06K +12.2%
Renaissance Technologies 773.22K +74.44K +10.7%
Oppenheimer & Close 477.87K +60.96K +14.6%
JPM JPMorgan Chase & Co. 80.58K +56.9K +240.2%
Martingale Asset Management L P 128.94K +33.9K +35.7%

Financial report summary

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Risks
  • We face numerous risks associated with the real estate industry that could adversely affect our results of operations through decreased revenues or increased costs.
  • If we are unable to refinance $182.6 million in balloon payments on mortgage debt maturing through 2022, we may be forced to sell properties on disadvantageous terms.
  • Most of our multi-family properties are located in a limited number of markets, 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.
  • We may not be able to compete with competitors, many of which have greater financial and other resources than we possess.
  • We may incur impairment charges in 2020.
  • We may not have sufficient funds to make required or desired capital improvements.
  • 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.
  • 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.
  • Our acquisition, development and value-add activities are limited by the funds available to us.
  • 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.
  • Increased competition and increased affordability of residential homes could limit our ability to retain our tenants or increase or maintain rents.
  • Compliance with REIT requirements may hinder our ability to maximize profits.
  • 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.
  • Because real estate investments are illiquid, we may not be able to reconfigure our portfolio on a timely basis.
  • We depend on our subsidiaries for cash flow and will be adversely impacted if these subsidiaries are prohibited from distributing cash to us.
  • Liabilities relating to environmental matters may impact the value of our properties.
  • 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.
  • Changes to the U.S. federal income tax laws, including the enactment of certain proposed tax reform measures, could have an adverse impact on our business and financial results.
  • Compliance or failure to comply with the Americans with Disabilities Act of 1990 or other safety regulations and requirements could result in substantial costs.
  • Breaches of information technology systems could materially harm our business and reputation.
  • We could be adversely affected if we or any of our subsidiaries are required to register as an investment company under the Investment Company Act of 1940 as amended (the “1940 Act”).
  • 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.
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, 2019: (i) eight multi-family properties located in six states with an aggregate of 1,880 units and a carrying value of $159.4 million are wholly-owned by us; and (ii) we have ownership interests, through unconsolidated entities, in 30 multi-family properties located in nine states with an aggregate of 8,898 units (including 715 units at two properties currently in lease up), and the carrying value of our net equity investment therein is $177.0 million. Most of our properties are located in the Southeast United States and Texas.
  • The term "same store properties" refers to five multi-family properties that were owned for the entirety of the periods being presented.
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