Company did not provide specific guidance for future quarters or the full year
Overview
U.S. multifamily property owner's Q2 net loss widened yr/yr, FFO and AFFO per share flat
Company entered agreements to acquire multifamily properties in Florida and Texas
Repurchased 202,828 shares in Q2, with further repurchases in July
Result drivers
Portfolio stability - Average occupancy and rent per unit remained stable yr/yr, with average occupancy at 94.4% and average monthly rent per occupied unit at $1,423
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Loss
Beat
$3.20 mln
$3.50 mln (2 Analysts)
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the residential REITs peer group is "buy"
Wall Street's median 12-month price target for BRT Apartments Corp is $18.50, about 30.7% above its August 10 closing price of $14.15
BRT•
