BRT reports AFFO of $0.31 per share in Q3 2026

Key Facts

BRT Apartments reported adjusted funds from operations (AFFO) of $0.31 per diluted share in Q3 2026, compared with $0.36 in the same period last year, according to its filing with the U.S. Securities and Exchange Commission. On the other measure, the company reported funds from operations (FFO) of $0.26 per diluted share, versus $0.28 a year earlier. The figures show both per-share operating performance measures declining during the quarter, with AFFO remaining above FFO in the current period. Consolidated revenue was $24.735 million, up from $24.434 million in Q3 2025.

At the property level, same-store portfolio net operating income was $15.1 million in Q3 2026, compared with $15.3 million in the corresponding period of 2025, the company said. The decline in this measure came alongside a steady average occupancy rate of 94.4% in the third quarters of 2026 and 2025. Net operating income measures the performance of the real estate portfolio, while average occupancy indicates the share of units occupied; the comparison shows the rate holding steady as net operating income fell year over year. The available information did not detail the factors behind changes in net operating income or revenue, so the movement cannot be attributed to a specific operating item.

BRT reported a net loss attributable to common shareholders of about $3.9 million, or $0.23 per diluted share, in Q3 2026, compared with a loss of $2.7 million, or $0.14 per share, in Q3 2025. This reflects a wider reported loss in both total dollars and on a per-share basis year over year. The accounting loss differs from the FFO and AFFO measures the company reported alongside it, which were $0.26 and $0.31 per diluted share, respectively, in the current quarter. In Q2 2026, FFO was $0.29 per share, unchanged from Q2 2025, while AFFO was $0.36 in both periods. The quarterly comparison puts the third-quarter year-over-year declines in both measures in context, following year-over-year stability in the second quarter.

The company declared a cash distribution of $0.25 per share for Q3 2026, according to the statement. The distribution announcement came with results that included year-over-year declines in FFO and AFFO, lower same-store portfolio net operating income and stable average occupancy. BRT shares closed at $12.75 on November 5, 2026, according to EL7 data. The available information does not include the stock’s trading range during the session or its change that day, nor does it link the closing price to the results announcement. The closing price therefore remains separate from the quarterly performance details in the company’s statement.

As part of its real estate plans, BRT said it entered into an agreement on June 2, 2026, to acquire the Ranch Lake Apartments complex in Bradenton, Florida, which has 336 residential units. The deal is valued at about $80 million and includes the assumption of a mortgage insured by the U.S. Department of Housing and Urban Development worth approximately $45.7 million. The mortgage carries an interest rate of 2.91% and matures in 2056, according to the company’s filing. BRT expects to complete the transaction during Q1 2027. The expected closing date places the acquisition in the coming period, while the current results reflect Q3 performance before the deal is completed.