BRT Apartments (BRT) Q4 2025 earnings summary

Executive summary

• Reported a Q4 2025 net loss of $4.3M ($0.23 per diluted share), FFO of $0.26, and AFFO of $0.34 per share.

• Full year 2025 net loss was $11.9M ($0.63 per share), FFO $1.12, and AFFO $1.45 per share.

• Combined Same Store Portfolio NOI rose 0.2% in Q4 2025 year-over-year, but fell 0.8% for the full year.

• Repurchased 321,060 shares in 2025 at a $15.53 average price; buyback program extended and expanded to $10M through 2028.

• Declared a $0.25 per share dividend for Q1 2026.

Financial highlights

• Market capitalization at year-end 2025 was $277M, down from $339M in 2024; closing share price $14.70.

• Debt to enterprise value increased to 73% from 66% year-over-year.

• Q4 2025 rental revenue was $23.9M; full year $95.3M.

• Q4 2025 consolidated average occupancy was 94.3%; average monthly rent per occupied unit $1,373.

• AFFO per share for 2025 was $1.45, up from $1.43 in 2024.

Outlook and guidance

• Share repurchase program extended through 2028 and increased to $10M.

• Dividend of $0.25 per share declared for Q1 2026.