BRT Apartments Corp. Q1 FY26 Results

Summary

BRT Apartments Corp. reported a net loss of $2.7 million, or $0.14 per diluted share, for the first quarter of 2026, an increase from the $2.4 million net loss in the prior-year period. Despite the net loss, Funds from Operations (FFO) per diluted share improved to $0.33 from $0.30 year-over-year, while Adjusted Funds from Operations (AFFO) per diluted share remained flat at $0.39. The company's Combined Portfolio Net Operating Income (NOI) increased by 4.0% for the quarter, reflecting operational improvements. BRT also actively managed its capital, repurchasing 318,593 shares of common stock and maintaining a $40.0 million revolving credit facility with no outstanding balance.

Key Highlights

1. 1

   BRT Apartments Corp. reported a net loss of $2.7 million, or $0.14 per diluted share, in the first quarter of 2026, compared to a net loss of $2.4 million, or $0.12, in the first quarter of 2025.

2. 2

   Funds from Operations (FFO) increased to $0.33 per diluted share in the first quarter of 2026, up from $0.30 in the prior-year period.

3. 3

   Adjusted Funds from Operations (AFFO) remained stable at $0.39 per diluted share for both the first quarter of 2026 and 2025.

4. 4

   Combined Portfolio Net Operating Income (NOI) increased by 4.0% for the first quarter of 2026 compared to the prior-year period.

5. 5

   From January 1, 2026 through May 7, 2026, the company repurchased an aggregate of 318,593 shares of common stock at a weighted average purchase price of $14.14 per share.

6. 6

   The company maintained a revolving credit facility of up to $40.0 million, with no outstanding balance as of May 7, 2026, and a maturity in September 2027.

7. 7

   A dividend of $0.25 per share was declared for the first quarter of 2026, consistent with the dividend declared for the first quarter of 2025.