$BRT

BRT REALTY TRUST

CIK:0000014846|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Rental and other revenue from real estate properties	$ 24,041	$ 23,729	$ 48,211	$ 47,348
Loan interest and other income	433	468	868	955
Total revenues	24,474	24,197	49,079	48,303
Expenses:
Real estate operating expenses - including $9 and $6 to related parties for the three months ended and $17 and $15 for the six months ended	11,382	11,117	21,871	21,667
Interest expense	5,993	5,707	11,953	11,383
General and administrative - including $251 and $163 to related parties for the three months ended and $504 and $341 for the six months ended	3,534	3,744	7,401	7,814
Depreciation and amortization	6,708	6,580	13,391	13,121
Total expenses	27,617	27,148	54,616	53,985
Total revenues less total expenses	(3,143)	(2,951)	(5,537)	(5,682)
Equity in (loss) earnings of unconsolidated joint ventures	(1)	299	(309)	712
Insurance recovery of casualty loss	0	189	136	257
Loss from continuing operations	(3,144)	(2,463)	(5,710)	(4,713)
Income tax provision	37	60	113	118
Loss from continuing operations, net of taxes	(3,181)	(2,523)	(5,823)	(4,831)
Net income attributable to non-controlling interest	(40)	(43)	(80)	(87)
Net loss attributable to common stockholders	$ (3,221)	$ (2,566)	$ (5,903)	$ (4,918)
Weighted average number of shares of common stock outstanding:
Basic (in shares)	17,979,991	17,985,801	18,021,620	17,986,443
Diluted (in shares)	17,979,991	17,985,801	18,021,620	17,986,443
Net loss per share amounts attributable to common stockholders:
Basic (in dollars per share)	$ (0.19)	$ (0.14)	$ (0.35)	$ (0.26)
Diluted (in dollars per share)	$ (0.19)	$ (0.14)	$ (0.35)	$ (0.26)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (3,181)	$ (2,523)	$ (5,823)	$ (4,831)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization			13,391	13,121
Amortization of deferred financing costs			559	567
Amortization of debt fair value adjustment			141	255
Amortization of deferred loan fee income	(15)	(15)	(29)	(31)
Amortization of restricted stock and restricted stock units			1,870	2,277
Equity in loss (earnings) of unconsolidated joint ventures	1	(299)	309	(712)
Increases and decreases from changes in other assets and liabilities:
Increase in other assets			(1,881)	(2,333)
(Decrease) increase in accounts payable and accrued liabilities			(115)	411
Net cash provided by operating activities			8,422	8,724
Cash flows from investing activities:
Improvements to real estate properties			(3,406)	(4,272)
Distributions from unconsolidated joint ventures			2,515	2,033
Net cash used in investing activities			(891)	(2,239)
Cash flows from financing activities:
Mortgage principal payments			(2,352)	(2,231)
Dividends paid			(5,677)	(9,429)
Distributions to non-controlling interests			(120)	(98)
Proceeds from issuance of DRIP shares			2,079	1,630
Repurchase of shares of common stock			(5,408)	(2,386)
Net cash used in financing activities			(11,478)	(12,514)
Net decrease in cash, cash equivalents, restricted cash and escrows:			(3,947)	(6,029)
Cash, cash equivalents, restricted cash and escrows at beginning of period			35,620	40,579
Cash, cash equivalents, restricted cash and escrows at end of period	31,673	34,550	31,673	34,550
Supplemental disclosure of cash flow information:
Cash paid during the period for interest expense			11,035	10,638
Cash paid for income taxes and excise taxes			220	237
Reconciliation of cash and cash equivalents and restricted cash:
Cash and cash equivalents	22,718	23,645	22,718	23,645
Restricted cash	1,886	2,922	1,886	2,922
Escrows (Other assets)	7,069	7,983	7,069	7,983
Total cash, cash equivalents, restricted cash and escrows shown in consolidated statement of cash flows	$ 31,673	$ 34,550	31,673	34,550
Supplemental disclosure of non-cash financing activity:
Distributions to common stockholders			$ 3,743	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Real estate properties, net of accumulated depreciation and amortization of $146,212 and $132,821	$ 586,829	$ 596,814
Investments in unconsolidated joint ventures	43,297	46,121
Loan receivables, net of deferred fees of $223 and $252 and allowance for credit loss of $275 and $275	17,752	17,723
Cash and cash equivalents	22,718	25,138
Restricted cash	1,886	2,521
Other assets	18,673	21,496
Total Assets	691,155	709,813
Liabilities:
Mortgages payable, net of deferred costs of $4,134 and $4,614	469,352	471,083
Junior subordinated notes, net of deferred costs of $207 and $217	37,193	37,183
Credit facility	0	0
Accounts payable and accrued liabilities	24,232	24,347
Total Liabilities	530,777	532,613
Commitments and contingencies
BRT Apartments Corp. stockholders' equity:
Preferred shares $0.01 par value 2,000 shares authorized, none outstanding	0	0
Common stock, $0.01 par value, 300,000 shares authorized; 18,026 and 17,919 shares outstanding	180	180
Additional paid-in capital	273,949	275,408
Accumulated deficit	(113,669)	(98,346)
Total BRT Apartments Corp. stockholders’ equity	160,460	177,242
Non-controlling interests	(82)	(42)
Total Equity	160,378	177,200
Total Liabilities and Equity	$ 691,155	$ 709,813