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BRT BRT Apartments

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
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

(
)

Calendar

7 May 21
31 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 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) 27.92M 27.92M 27.92M 27.92M 27.92M 27.92M
Cash burn (monthly) 256K 86.08K 776.33K 1.07M (positive/no burn) 180K
Cash used (since last report) 1.03M 345.63K 3.12M 4.31M n/a 722.7K
Cash remaining 26.89M 27.57M 24.8M 23.61M n/a 27.19M
Runway (months of cash) 105.0 320.3 31.9 22.0 n/a 151.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
14 Jun 21 Ryan Baltimore Common Stock Sell Dispose S No No 18.59 200 3.72K 51,025
14 Jun 21 Ryan Baltimore Common Stock Sell Dispose S No No 18.58 100 1.86K 51,225
14 Jun 21 Ryan Baltimore Common Stock Sell Dispose S No No 18.55 87 1.61K 51,325
14 Jun 21 Ryan Baltimore Common Stock Sell Dispose S No No 18.54 100 1.85K 51,412
14 Jun 21 Ryan Baltimore Common Stock Sell Dispose S No No 18.52 7 129.64 51,512
14 Jun 21 Ryan Baltimore Common Stock Sell Dispose S No No 18.51 294 5.44K 51,519
14 Jun 21 Ryan Baltimore Common Stock Sell Dispose S No No 18.5 100 1.85K 51,813
14 Jun 21 Ryan Baltimore Common Stock Sell Dispose S No No 18.49 6 110.94 51,913
14 Jun 21 Ryan Baltimore Common Stock Sell Dispose S No No 18.48 2 36.96 51,919
14 Jun 21 Ryan Baltimore Common Stock Sell Dispose S No No 18.47 1 18.47 51,921

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

29.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 68 72 -5.6%
Opened positions 3 7 -57.1%
Closed positions 7 8 -12.5%
Increased positions 18 28 -35.7%
Reduced positions 29 22 +31.8%
13F shares
Current Prev Q Change
Total value 163.14M 120.11M +35.8%
Total shares 5.18M 5.44M -4.7%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK Blackrock 1.06M $17.85M +2.7%
Renaissance Technologies 672.19K $11.32M -1.5%
Vanguard 558.62K $9.41M -10.6%
Oppenheimer & Close 538.12K $9.06M -2.1%
Geode Capital Management 189.45K $3.19M -0.4%
First Manhattan 171.24K $2.88M -3.2%
Relative Value Partners 169.43K $2.89M +11.8%
STT State Street 163.53K $2.79M -48.7%
State of New Jersey Common Pension Fund D 162.5K $2.74M 0.0%
Avantax Advisory Services 131.27K $2.21M +17.9%
Largest transactions
Shares Bought/sold Change
STT State Street 163.53K -155.4K -48.7%
Vanguard 558.62K -66.57K -10.6%
GS Goldman Sachs 95.58K +65.96K +222.6%
B. Riley Wealth Management 0 -59.03K EXIT
BLK Blackrock 1.06M +28.18K +2.7%
WFC Wells Fargo & Co. 18.54K -22.53K -54.9%
Avantax Advisory Services 131.27K +19.89K +17.9%
Relative Value Partners 169.43K +17.92K +11.8%
Citadel Advisors 17.02K +17.02K NEW
Concorde Asset Management 25.25K +14.09K +126.3%

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.
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