Liquidity PositionBRT is in a strong liquidity position with approximately ~$86 million, including $45.8 million of cash and cash equivalents, and maintained its revolving credit facility of up to $40.0 million, with $0 outstanding.
Market ValuationBRT stock is currently trading at a 34% discount to FTM NAV, presenting a public market valuation that is seen as overdone and misaligned with private market conditions.
Share RepurchaseBRT repurchased shares at a significant discount to FTM NAV, which is seen as an excellent use of capital.