BRT · BRT Apartments Corp.

BRT Apartments Corp. reported a Q1 2026 net loss of $2.7 million or $0.14 per diluted share, widening slightly from $2.4 million or $0.12 in the prior-year quarter, primarily due to a $308,000 equity loss from unconsolidated joint ventures versus a $413,000 gain last year, partially offset by higher rental revenues of $24.2 million (up from $23.6 million) and a 4.0% increase in Combined Portfolio NOI. Core operational metrics showed improvement with FFO rising to $0.33 per share from $0.30, reflecting better property performance amid 93.9% average occupancy and $1,426 weighted average monthly rent per occupied unit across 8,311 units in 31 properties. AFFO held steady at $0.39 per share. The company grew its portfolio to 31 properties (8,311 units) from 29 (7,947 units), with consolidated properties stable at 21 but unconsolidated expanding to 10. Balance sheet highlights include $651 million total debt (75% debt to enterprise value, up from 67%) and $27 million cash equivalents. Capital return remains robust: a $0.25 quarterly dividend was declared, and 318,593 shares were repurchased at $14.14 average through May 7, with $6.6 million authorization remaining to 2028. A $40 million revolving credit facility remains undrawn, maturing September 2027. No forward guidance was provided, but the supplemental package details value-add programs, debt maturities, and state-level portfolio metrics, emphasizing multifamily focus in Southeastern U.S. and Texas.