BRT Apartments Corp.

BRT Apartments Corp. has entered into the fourth amendment to its loan agreement with VNB New York, LLC. The amendment primarily reduces the interest rate to three-month term SOFR plus 210 basis points, lowers the minimum interest rate to 5%, and decreases the adjustable cap rate to 6.25%. The company can currently borrow $40 million under this facility. Additionally, the company's board of directors authorized an increase in its stock repurchase program to $10 million.

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.

BRT Apartments Corp. reported a net loss attributable to common stockholders of $(3.22) million, or $(0.19) per share, for the three months ended June 30, 2026, compared to a net loss of $(2.57) million, or $(0.14) per share, in the prior year. Total revenues increased slightly to $24.47 million. The company also announced an agreement to acquire Ranch Lake Apartments, a 336-unit multifamily property, for approximately $80 million, expected to close in Q1 2027. Additionally, BRT declared a quarterly cash dividend of $0.25 per share and repurchased 202,828 shares for $2.90 million during the quarter.

BRT Apartments Corp. has entered into an agreement to acquire The Waterford on Piedmont, a 153-unit high-rise multifamily property in Atlanta, Georgia. The purchase price is approximately $35 million, with funding expected from a $22 million mortgage and $14 million from refinancings of other properties. The acquisition is subject to due diligence and customary closing conditions, with an anticipated close in the quarter ending September 30, 2026. The filing also provided unaudited revenue and operating expense data for the acquired property.

BRT Apartments Corp. announced that all proposals presented at its annual meeting of stockholders on June 10, 2026, were approved. Key approvals included the election of four directors for terms expiring in 2029, the advisory vote on executive compensation for 2025, and the ratification of Ernst & Young LLP as the independent registered public accounting firm for 2026. Additionally, the 2026 Incentive Plan received stockholder approval.

BRT Apartments Corp. announced that its Board of Directors declared a quarterly dividend of $0.25 per share. The dividend is scheduled for payment on July 9, 2026, to stockholders who are on record at the close of business on June 25, 2026. As a real estate investment trust, BRT owns and operates multifamily properties, holding interests in 31 properties with 8,311 units across 11 states, and preferred equity investments in two additional multifamily properties as of May 31, 2026.

BRT Apartments Corp. announced an agreement to acquire Ranch Lake Apartments, a 336-unit multifamily property in Bradenton, Florida, for approximately $80 million. The acquisition includes assuming a $45.7 million HUD-insured mortgage at a 2.91% interest rate, with the remaining $38 million to be funded through refinancings, property sales, and its credit facility. The transaction is expected to close in late 2026 or early 2027, subject to customary conditions, though the company noted a challenging operating environment and no assurance of accretion to earnings.

BRT Apartments Corp., a real estate investment trust, announced the filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, with the SEC. The report, containing financial statements and supplemental information, is accessible on the company's investor relations website. As of May 7, 2026, BRT owns or has interests in 31 multi-family properties with 8,311 units across 11 states, along with preferred equity investments in two additional multifamily properties.

BRT Apartments Corp. reported a net loss of $2.7 million, or $0.14 per diluted share, for Q1 2026, compared to a net loss of $2.4 million, or $0.12 per diluted share, in Q1 2025. Despite the wider net loss, Funds from Operations (FFO) increased to $0.33 per diluted share from $0.30, and Adjusted Funds from Operations (AFFO) remained flat at $0.39 per diluted share. The company also announced a 4.0% increase in Combined Portfolio Net Operating Income (NOI) and repurchased 318,593 shares of common stock.

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.