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Jun 30, 2020
BRT Q2 2020 Earnings Report
Reported second quarter results with 98% of billed amounts collected and focus on tenant and team member well-being.
Key Takeaways
BRT Apartments Corp. reported a net loss of $4.25 million for the second quarter of 2020, but collected 98% of billed amounts. The company remains focused on tenant and team member well-being and is monitoring markets while protecting stockholder interests and liquidity.
Collected 98% of billed amounts for the quarter and July.
Maintained focus on the health and well-being of tenants and team members.
Monitored market conditions to balance resident needs with stockholder interests.
Believed to be well-positioned from a liquidity perspective.
BRT
BRT
BRT Revenue by Segment
Revenue by Segment
Rental and Other Revenue
CapyFin.com Forward Guidance
The company did not provide specific forward guidance in this earnings report. The focus was on the uncertainty related to COVID-19 and its potential impact on residents' ability to pay rent, as well as the company's ability to pay dividends and debt service.
Challenges Ahead
- Potential adverse effect of COVID-19 on residents' ability to pay rent.
- Possible impact on the company's ability to pay dividends.
- Potential impact on the ability to service debt.
- Resurgence of the pandemic in the Southeast United States and Texas.
- Uncertainty regarding the scope, severity, and duration of the pandemic.