Quarterly ResultMay 7, 2026, 04:25 PM
BRT Apartments Q1 Net Loss $(2.68)M; EPS $(0.14)
AI Summary
BRT Apartments Corp. reported an increased net loss attributable to common stockholders of $(2.68) million, or $(0.14) per share, for the three months ended March 31, 2026, compared to a net loss of $(2.35) million, or $(0.12) per share, in the prior year. Total revenues saw a modest increase to $24.61 million, up 2.1% year-over-year, but this was offset by a swing to a loss in equity from unconsolidated joint ventures. The company's Board also replenished its share repurchase program to $10.0 million and extended it through December 31, 2028, actively repurchasing shares during the quarter.
Key Highlights
- Net loss attributable to common stockholders increased to $(2.68) million from $(2.35) million year-over-year.
- Basic and diluted net loss per share was $(0.14), compared to $(0.12) in the prior year period.
- Total revenues increased 2.1% to $24.61 million from $24.11 million in the same quarter last year.
- Equity in unconsolidated joint ventures swung to a $(0.31) million loss from $0.41 million in earnings.
- The Board replenished the share repurchase program to $10.0 million, extending it through December 31, 2028.
- The company repurchased 176,148 shares for $2.51 million at an average price of $14.26 in Q1 2026.
- A quarterly cash dividend of $0.25 per share was declared, payable on April 6, 2026.
- Total assets decreased to $698.41 million as of March 31, 2026, from $709.81 million at December 31, 2025.