BRT Q2 2020 Earnings Report
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.
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BRT Revenue by Segment
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.