BRT Apartments Corp. Reports Q2 2026 Revenue Growth but Increased Net Loss

BRT Apartments Corp. reported its financial results for the second quarter of 2026, revealing total revenues of $24.5 million, a 1.1% increase from $24.2 million in the same period last year. The growth was primarily driven by a $312,000 rise in rental and other revenue from real estate properties, which reached $24.0 million, up from $23.7 million. However, the company experienced a net loss attributable to common stockholders of $3.2 million, compared to a loss of $2.6 million in the prior year, resulting in a loss per share of $0.19, compared to $0.14 in the same quarter of 2025.

For the first half of 2026, BRT's total revenues increased by 1.6% to $49.1 million, up from $48.3 million in the first half of 2025. The rental and other revenue from real estate properties contributed $48.2 million, reflecting a 1.8% increase from $47.3 million. Despite the revenue growth, the company reported a net loss of $5.9 million for the six months ended June 30, 2026, compared to a loss of $4.9 million in the same period last year. The increase in losses was attributed to higher interest expenses and reduced other income.

In terms of operational developments, BRT Apartments Corp. owns and operates 21 multifamily properties with a total of 5,420 units, alongside interests in ten additional properties through unconsolidated joint ventures. The company is in the process of acquiring Ranch Lake Apartments, a 336-unit property in Florida, for approximately $80 million, which is expected to close in early 2027, pending regulatory approvals. Additionally, BRT has plans to acquire a multifamily property in Houston, Texas, for about $33 million, further expanding its portfolio.

The company’s financial position showed total assets of $691.2 million as of June 30, 2026, down from $709.8 million at the end of 2025. Total liabilities decreased slightly to $530.8 million from $532.6 million. BRT's stockholders' equity also declined to $160.5 million from $177.2 million, primarily due to the accumulated deficit increasing to $113.7 million. The company continues to manage its capital structure actively, including a share repurchase program that has seen the repurchase of 378,976 shares at an average price of $14.27 during the first half of 2026.

Looking ahead, BRT Apartments Corp. anticipates challenges due to the uncertain economic environment, including inflation and rising interest rates, which may impact rental income and occupancy rates. The company is focused on refinancing maturing debt and managing its liquidity, with approximately $53 million available as of early August 2026. BRT remains committed to maintaining its REIT status and intends to continue its dividend payments, having declared a quarterly cash distribution of $0.25 per share in July 2026.