Financial PerformanceBRT Apartments Corp. reported 2Q24 Core FFO of $0.30, which beat the estimate of $0.28 per share, reflecting higher NOI and lower G&A expenses.
LiquidityBRT 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.
Stock ValuationManagement has been repurchasing stock, which is considered the best usage of FCF as shares are trading at a 41% discount to NAV.