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Sep 30, 2021
BRT Q3 2021 Earnings Report
Reported strong third quarter results driven by high-quality portfolio performance and strategic capital allocation.
Key Takeaways
BRT Apartments Corp. reported a net income of $28.11 million, or $1.54 per diluted share, for the three months ended September 30, 2021. The company's performance was driven by the strong performance of its high-quality portfolio and the continued hard work of its team. BRT also strengthened its capital structure by reducing leverage and growing its wholly-owned holdings through joint venture buyouts.
Net income attributable to common stockholders was $28.11 million, or $1.54 per diluted share.
FFO was $7,000, or less than $0.01 per diluted share.
AFFO was $5.66 million, or $0.31 per diluted share.
NOI at same store properties in entire portfolio increased 8.9% to $12.76 million.
Forward Guidance
The company will continue to be disciplined and judicious in its efforts to buy-out joint venture partners and acquire multi-family properties that it believes will create long-term value for its stockholders.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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