BRT Apartments | 10-Q: FY2025 Q3 Revenue: USD 24.43 M

Revenue: As of FY2025 Q3, the actual value is USD 24.43 M.

EPS: As of FY2025 Q3, the actual value is USD -0.14.

EBIT: As of FY2025 Q3, the actual value is USD 8.094 M.

Segment Revenue

• Rental and Other Revenue from Real Estate Properties: $24,031,000 for the three months ended September 30, 2025, compared to $24,177,000 for the same period in 2024, representing a decrease of 0.6%.
• Loan Interest and Other Income: $403,000 for the three months ended September 30, 2025, compared to $219,000 for the same period in 2024, representing an increase of 84.0%.

Operational Metrics

• Net Loss: - $2,707,000 for the three months ended September 30, 2025, compared to - $2,205,000 for the same period in 2024.
• Depreciation and Amortization: $6,619,000 for the three months ended September 30, 2025, compared to $6,499,000 for the same period in 2024.
• Interest Expense: $5,882,000 for the three months ended September 30, 2025, compared to $5,745,000 for the same period in 2024.

Cash Flow

• Net Cash Provided by Operating Activities: $17,778,000 for the nine months ended September 30, 2025, compared to $16,562,000 for the same period in 2024.
• Net Cash Used in Investing Activities: - $21,399,000 for the nine months ended September 30, 2025, compared to - $1,288,000 for the same period in 2024.
• Net Cash (Used in) Provided by Financing Activities: - $517,000 for the nine months ended September 30, 2025, compared to $8,701,000 for the same period in 2024.

Unique Metrics

• Equity in (Loss) Earnings of Unconsolidated Joint Ventures: - $75,000 for the three months ended September 30, 2025, compared to $369,000 for the same period in 2024.

Future Outlook and Strategy

• Core Business Focus: The company plans to refinance three maturing mortgages totaling $42.5 million by year-end, expecting new mortgage debt of approximately $71.4 million with a weighted average interest rate ranging from 4.90% to 5.04%.
• Non-Core Business: The company is pursuing alternative investments in the multi-family property arena, including preferred equity investments and bridge loans, although these are not expected to constitute a significant part of the portfolio in the near term.

Priority

• The company anticipates an increase in quarterly interest expense by approximately $430,000 due to refinancing activities.