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Jun 30, 2023
BRT Q2 2023 Earnings Report
Reported results, affirmed full year 2023 guidance, and completed asset disposition.
Key Takeaways
BRT Apartments Corp. reported a net income of $11.2 million, or $0.58 per diluted share, for the second quarter ended June 30, 2023. The company affirmed its full year 2023 guidance and completed the disposition of a joint venture asset in Dallas, TX.
Net income of $11.2 million, or $0.58 per diluted share.
Equity (loss) in earnings of unconsolidated joint ventures was $464,000.
Combined Portfolio NOI increased 1.4%.
Completed disposition of a joint venture asset in Dallas, TX for a gain of $14.7 million, net proceeds of $19.4 million and an IRR of 22%.
Forward Guidance
The Company affirmed its full year 2023 guidance and accompanying assumptions previously issued on March 14, 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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