Quarterly ResultAug 10, 2026, 05:20 PM
BRT Apartments Q2 Net Loss $3.2M; FFO/AFFO Flat; Acquires Property
AI Summary
BRT Apartments Corp. reported a net loss per diluted share of $0.19 for the second quarter of 2026, widening from a $0.14 loss in the prior year. Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO) per diluted share remained flat at $0.29 and $0.36, respectively. The company announced an agreement to acquire a 336-unit multifamily property for $80 million and anticipates another joint venture acquisition in Houston for $33 million. Additionally, BRT refinanced a significant mortgage and continued its share repurchase program.
Key Highlights
- Reported net loss per diluted share of $0.19 for Q2 2026, compared to $0.14 in Q2 2025.
- Funds from Operations (FFO) per diluted share remained flat at $0.29 for Q2 2026.
- Adjusted Funds from Operations (AFFO) per diluted share remained flat at $0.36 for Q2 2026.
- Combined Portfolio Net Operating Income (NOI) increased to $15.2 million in Q2 2026 from $15.1 million in Q2 2025.
- Agreed to acquire Ranch Lake Apartments, a 336-unit property, for approximately $80 million, closing Q1 2027.
- Anticipates acquiring a multifamily property in Houston, TX for $33 million through a joint venture in August 2026.
- Refinanced a $27.8 million mortgage on Civic Center 2 - Southaven, MS with a new $47.9 million mortgage at 5.38% interest.
- Repurchased 202,828 shares in Q2 2026 at a weighted average price of $14.28.
Price Impact
More from BRT