Quarterly ResultMay 8, 2026, 12:17 PM
New England Realty Q1 Net Loss $3.91M; EPS $(33.61)
AI Summary
New England Realty Associates Limited Partnership reported a net loss of $3.91 million for Q1 2026, a significant decline from a net income of $3.80 million in Q1 2025, resulting in a loss per unit of $(33.61). This was despite a 16.3% increase in total revenues to $24.16 million, primarily driven by higher rental income. The loss was largely due to a substantial increase in total expenses, particularly administrative, depreciation, operating, and interest expenses, and a $151,000 loss on the sale of real estate. The company also placed a 72-unit apartment building into service.
Key Highlights
- Net Loss of $3,907,672 for Q1 2026, compared to Net Income of $3,795,719 for Q1 2025.
- Net Loss per Unit was $(33.61) for Q1 2026, compared to Net Income per Unit of $32.53 for Q1 2025.
- Total Revenues increased 16.3% to $24,161,127 in Q1 2026 from $20,688,894 in Q1 2025.
- Total Expenses rose to $22,664,945 in Q1 2026 from $14,455,447 in Q1 2025.
- Interest Expense increased to $(5,712,327) in Q1 2026 from $(3,791,432) in Q1 2025.
- A loss of $(150,963) was incurred on the sale of two commercial office buildings in Q1 2026.
- The 72-unit Mill Street Development apartment building was placed in service on January 1, 2026, with a $35 million investment.
- Cash and Cash Equivalents decreased to $25,559,751 at March 31, 2026, from $26,668,978 at December 31, 2025.