BRT Apartments Corp. is a real estate investment trust that directly, or through joint ventures, owns and operates multi-family properties.

Company profile
Ticker
BRT
Exchange
Website
CEO
Jeffrey A. Gould
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
BRT REALTY TRUST, BRT Realty Trust
SEC CIK
Corporate docs
Subsidiaries
TRB No. 1 Corp. • TRB 69th Street Corp. • TRB Yonkers Corp. • TRB Lawrence Realty Corp. • TRB Daytona LLC • TRB Silvana LLC • TRB Avondale LLC • TRB Columbus LLC • TRB Arlington LLC • TRB Triple Play LLC ...
IRS number
132755856
BRT stock data
Press releases
BRT Apartments Corp. Reports Second Quarter Results for 2022
8 Aug 22
BRT Apartments Corp. Announces Second Quarter 2022 Earnings Release
26 Jul 22
BRT Apartments Corp. Completes Purchase of Remaining 25% Interest in Partnership That Owns Civic Center I and Civic Center II
12 Jul 22
BRT Apartments Corp. Completes Transactions
30 Jun 22
BRT Apartments Corp. Announces Initiation of Dividend Reinvestment Plan
15 Jun 22
Calendar
8 Aug 22
20 Aug 22
31 Dec 22
Financial summary
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Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Sep 18 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 61.83M | 61.83M | 61.83M | 61.83M | 61.83M | 61.83M |
Cash burn (monthly) | (no burn) | (no burn) | 1.04M | 877.67K | (no burn) | (no burn) |
Cash used (since last report) | n/a | n/a | 1.75M | 1.48M | n/a | n/a |
Cash remaining | n/a | n/a | 60.08M | 60.35M | n/a | n/a |
Runway (months of cash) | n/a | n/a | 57.8 | 68.8 | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
19 May 22 | Investors L P Gould | Common Stock | Buy | Acquire P | No | No | 20 | 100 | 2K | 2,996,922 |
19 May 22 | Gould Matthew J | Common Stock | Buy | Acquire P | Yes | No | 20 | 100 | 2K | 2,996,922 |
19 May 22 | Jeffrey Gould | Common Stock | Buy | Acquire P | Yes | No | 20 | 100 | 2K | 2,996,922 |
12 May 22 | Investors L P Gould | Common Stock | Buy | Acquire P | No | No | 20 | 4,250 | 85K | 2,996,822 |
12 May 22 | Investors L P Gould | Common Stock | Buy | Acquire P | No | No | 19.99 | 1,564 | 31.26K | 2,992,572 |
12 May 22 | Investors L P Gould | Common Stock | Buy | Acquire P | No | No | 19.98 | 1,010 | 20.18K | 2,991,008 |
12 May 22 | Investors L P Gould | Common Stock | Buy | Acquire P | No | No | 19.93 | 100 | 1.99K | 2,989,998 |
12 May 22 | Gould Matthew J | Common Stock | Buy | Acquire P | Yes | No | 20 | 4,250 | 85K | 2,996,822 |
12 May 22 | Gould Matthew J | Common Stock | Buy | Acquire P | Yes | No | 19.99 | 1,564 | 31.26K | 2,992,572 |
12 May 22 | Gould Matthew J | Common Stock | Buy | Acquire P | Yes | No | 19.98 | 1,010 | 20.18K | 2,991,008 |
Institutional ownership, Q2 2022
29.1% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 86 |
Opened positions | 7 |
Closed positions | 10 |
Increased positions | 32 |
Reduced positions | 30 |
13F shares | Current |
---|---|
Total value | 118.14M |
Total shares | 5.49M |
Total puts | 12.7K |
Total calls | 133.8K |
Total put/call ratio | 0.1 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 939.46K | $20.19M |
Renaissance Technologies | 603.09K | $12.96M |
Vanguard | 595.66K | $12.8M |
Oppenheimer & Close | 361.11K | $7.76M |
Avantax Advisory Services | 235.64K | $5.06M |
Geode Capital Management | 223.07K | $4.79M |
STT State Street | 202.62K | $4.4M |
Relative Value Partners | 185.79K | $4.1M |
Hillsdale Investment Management | 162.89K | $3.5M |
State of New Jersey Common Pension Fund D | 162.5K | $3.49M |
Financial report summary
?Risks
- The continuation of the 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.
- If we are unable to refinance $64.7 million in balloon payments on mortgage debt maturing through 2024, we may be forced to sell properties on disadvantageous terms.
- Our failure to comply with our obligations under our debt instruments may reduce our stockholders’ equity, and adversely affect our net income and ability to pay dividends.
- 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.
- We depend on our subsidiaries for cash flow and will be adversely impacted if these subsidiaries are prohibited from distributing cash to us.
- Changes to the U.S. federal income tax laws could have an adverse impact on our business and financial results.
- Liabilities relating to environmental matters may impact the value of our properties.
- Compliance or failure to comply with the ADA or other safety regulations and requirements could result in substantial costs.
- 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”).
- We face numerous risks associated with the real estate industry that could adversely affect our results of operations through decreased revenues or increased costs.
- 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 2022.
- 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.
- 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.
- Breaches of information technology systems could materially harm our business and reputation.
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, to a lesser extent, development of multi-family properties. These properties may be wholly owned or owned by unconsolidated joint ventures in which we generally contributed 65% to 80% of the equity. At December 31, 2021, we: (i) wholly-own ten multi-family properties with an aggregate of 2,576 units and a carrying value of $291.5 million, and (ii) have ownership interests, through unconsolidated entities, in 23 multi-family properties with an aggregate of 6,697 units, and the carrying value of our net equity investment therein is $112.3 million. These 33 properties are located in eleven states; most of which are located in the Southeast United States and Texas.
- The Impact of the COVID-19 Pandemic; 2021 and Recent Developments.
Content analysis
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Readability |
H.S. sophomore Avg
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New words:
assert, asserted, compensatory, discretion, DRP, Edge, exemplary, Harbison, injury, Loft, made, opportunity, original, Pensacola, personal, preceding, punitive, replacement, sixteen, umbrella
Removed:
addition, ATM, Bluff, Center, Civic, monthly, Notwithstanding, scheduled
Financial reports
Current reports
8-K
BRT Apartments Corp. Reports Second Quarter Results for 2022
8 Aug 22
8-K
BRT Apartments Corp. Completes Purchase of Remaining 25% Interest
12 Jul 22
8-K
BRT Apartments Corp. Completes Transactions
30 Jun 22
8-K
Other Events
21 Jun 22
8-K
BRT Apartments Corp. Completes Sale of Retreat at Cinco Ranch
14 Jun 22
8-K
Investor Presentation June 2022
10 Jun 22
8-K
BRT Apartments Corp. Reports First Quarter Results for 2022
9 May 22
8-K
Entry into a Material Definitive Agreement
12 Apr 22
8-K
Entry into a Material Definitive Agreement
18 Mar 22
8-K
BRT Apartments Reports Fourth Quarter and Year End 2021 Results
14 Mar 22
Registration and prospectus
S-8
Registration of securities for employees
14 Jun 22
424B5
Prospectus supplement for primary offering
18 Mar 22
424B5
Prospectus supplement for primary offering
10 May 21
S-8
Registration of securities for employees
6 Nov 20
424B5
Prospectus supplement for primary offering
26 Nov 19
S-3/A
Shelf registration (amended)
21 Nov 19
S-3
Shelf registration
30 Aug 19
424B5
Prospectus supplement for primary offering
17 May 18
S-8
Registration of securities for employees
12 Mar 18
Other
EFFECT
Notice of effectiveness
27 Nov 19
CORRESP
Correspondence with SEC
24 Nov 19
UPLOAD
Letter from SEC
9 Sep 19
EFFECT
Notice of effectiveness
17 May 17
EFFECT
Notice of effectiveness
16 Jan 17
EFFECT
Notice of effectiveness
30 Aug 16
CORRESP
Correspondence with SEC
29 Aug 16
UPLOAD
Letter from SEC
25 Aug 16
UPLOAD
Letter from SEC
21 Apr 16
EFFECT
Notice of effectiveness
28 Aug 13
Ownership
4
BRT Apartments / JEFFREY GOULD ownership change
23 May 22
4
BRT Apartments / MATTHEW J GOULD ownership change
23 May 22
4
BRT Apartments / INVESTORS L P GOULD ownership change
23 May 22
4
BRT Apartments / JEFFREY GOULD ownership change
18 May 22
4
BRT Apartments / MATTHEW J GOULD ownership change
18 May 22
4
BRT Apartments / INVESTORS L P GOULD ownership change
18 May 22
SC 13G/A
BRT Apartments / BlackRock ownership change
9 May 22
4/A
BRT Apartments / FREDRIC H GOULD ownership change
14 Apr 22
4/A
BRT Apartments / GARY HURAND ownership change
1 Feb 22
SC 13G/A
BRT Apartments / BlackRock ownership change
31 Jan 22
Transcripts
2022 Q2
Earnings call transcript
9 Aug 22
2022 Q1
Earnings call transcript
10 May 22
2021 Q4
Earnings call transcript
15 Mar 22
2021 Q3
Earnings call transcript
9 Nov 21
2021 Q2
Earnings call transcript
6 Aug 21
2021 Q1
Earnings call transcript
7 May 21
2020 Q4
Earnings call transcript
12 Mar 21
2020 Q3
Earnings call transcript
6 Nov 20
2020 Q2
Earnings call transcript
11 Aug 20
2019 Q3
Earnings call transcript
11 Nov 19
Reddit threads
Daily Discussion Thread - August 5th, 2022
5 Aug 22
Daily Discussion Thread - June 29th, 2022
29 Jun 22
Daily Discussion Thread - June 28th, 2022
28 Jun 22
Daily Discussion Thread - June 27th, 2022
27 Jun 22
What are some good REITs for LT when it comes to a good growth/yield balance?
22 May 22
Daily Discussion Thread - May 9th, 2022
9 May 22
Daily Discussion Thread - May 6th, 2022
6 May 22
Any advice for month 1,4,7,10 dividend stocks?
30 Apr 22
Tesla's Q1 results; 3.3B net income, 19% operating margin, 33% auto gross margin. Reduced debt from 1.4B to 88 MILLION.
20 Apr 22
Daily Discussion Thread - March 23rd, 2022
23 Mar 22