BRT Apartments Corp. Q2 FY26 Results

Summary

BRT Apartments Corp. reported a net loss of $3.2 million, or $0.19 per diluted share, for the second quarter of 2026, an increase from the $2.6 million net loss in the prior year's second quarter. Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO) per diluted share remained stable at $0.29 and $0.36, respectively. Combined Portfolio Net Operating Income (NOI) saw a slight increase to $15.2 million from $15.1 million year-over-year. The company highlighted strategic acquisitions and refinancings, including an agreement to acquire Ranch Lake Apartments and a significant mortgage refinance in Southaven, MS.

Key Highlights

1. 1

   BRT Apartments Corp. reported a net loss of $3.2 million, or $0.19 per diluted share, for the second quarter of 2026, compared to a net loss of $2.6 million, or $0.14 per diluted share, in the second quarter of 2025.

2. 2

   Funds from Operations (FFO) remained stable at $0.29 per diluted share for the second quarter of 2026, matching the prior year's second quarter.

3. 3

   Adjusted Funds from Operations (AFFO) also remained stable at $0.36 per diluted share for the second quarter of 2026, consistent with the second quarter of 2025.

4. 4

   Combined Portfolio Net Operating Income (NOI) was $15.2 million for the second quarter of 2026, a slight increase from $15.1 million in the corresponding prior-year period.

5. 5

   The company entered into an agreement to acquire Ranch Lake Apartments, a 336-unit property in Bradenton, FL, for approximately $80 million, with an anticipated closing in the first quarter of 2027.

6. 6

   In July 2026, the company refinanced a mortgage on Civic Center 2 - Southaven, MS, increasing the mortgage amount from $27.8 million to $47.9 million.

7. 7

   BRT Apartments Corp. declared a dividend of $0.25 per share for the second quarter of 2026.