GREAT NECK, N.Y., May 08, 2025 (GLOBE NEWSWIRE) -- BRT APARTMENTS CORP. (NYSE:BRT), a real estate investment trust, announced today that it has filed its quarterly report on Form 10-Q for the quarter ended March 31, 2025 with the Securities and Exchange Commission. The financial statements and supplemental financial information can be accessed on the Company’s investor relations website under the caption “Financials – Quarterly Results.” BRT is a real estate investment trust that owns, operates and, to a le ...

Exhibit 99.1 SUPPLEMENTAL FINANCIAL INFORMATION FOR THREE MONTHS ENDED MARCH 31, 2025 May 8, 2025 60 Cutter Mill Rd., Great Neck, NY 11021 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS We consider some of the information set forth herein to contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, with respect to our expectations fo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2025 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 001-07172 BRT APARTMENTS CORP. (Exact name of Registrant as specified in its charter) Maryland 13-2755856 incorporation or organization) (State or other jurisdic ...

Core Viewpoint - BRT Apartments Corp. has filed its annual report on Form 10-K for the year ended December 31, 2024, with the SEC, providing insights into its financial performance and operations [1] Company Overview - BRT Apartments Corp. is a real estate investment trust (REIT) that primarily owns and operates multi-family properties, with some preferred equity investments in joint ventures [1] - As of December 31, 2024, BRT owns or has interests in 29 multi-family properties comprising 7,947 units across 11 states [1] - The company also holds preferred equity investments in two additional multi-family properties [1]

Financial Performance - Reported net loss for Q4 2024 was $2.1 million, or $(0.11) per diluted share, and for the full year 2024, the net loss was $9.8 million, or $(0.52) per diluted share[10]. - Funds from Operations (FFO) for Q4 2024 was $0.27 per diluted share, while the full year FFO was $1.12 per diluted share[10]. - Adjusted Funds from Operations (AFFO) for Q4 2024 was $0.37 per diluted share, and for the full year, it was $1.43 per diluted share[10]. - Total revenues for the three months ended December 31, 2024, were $23,969,000, a slight increase from $23,508,000 in the same period of 2023, representing a growth of 1.96%[18]. - Total revenues for 2024 reached $23,062 million, a slight increase of 0.3% compared to $22,995 million in 2023[64]. - Total revenues for the three months ended December 31, 2024, increased to $11,653 million, up from $10,541 million in the same period of 2023, representing a growth of 10.6%[74]. - Rental and other revenue for the twelve months ended December 31, 2024, reached $45,182 million, compared to $44,785 million in 2023, showing a slight increase of 0.9%[77]. Operating Income and Expenses - Combined Portfolio Net Operating Income (NOI) decreased by 4.6% in Q4 2024 and by 0.2% for the full year compared to the previous year[10]. - Total combined operating income for the year ended December 31, 2024, was $61,924, a slight decrease of 0.2% compared to $62,060 in 2023[47]. - Total expenses for the three months ended December 31, 2024, were $27,386,000, up from $25,742,000 in 2023, indicating an increase of 6.37%[18]. - Total expenses for the twelve months ended December 31, 2024, were $45,070 million, an increase from $40,248 million in 2023, reflecting a rise of 12.5%[77]. - Property operating expenses increased to $10,827 million in 2024, up 6.7% from $10,144 million in 2023[64]. Occupancy and Rental Rates - Average occupancy for the quarter ended December 31, 2024, was 93.7%, slightly up from 93.6% in the previous year[13]. - The portfolio occupancy rate for the quarter ended December 31, 2024, was 93.7%[38]. - The weighted average monthly rent per occupied unit across the consolidated portfolio was $1,371[38]. - The weighted average monthly rent per occupied unit increased to $1,371 in 2024, a 0.7% rise from $1,362 in 2023[64]. - The average rent per occupied unit across consolidated properties is $1,378, with the highest being $1,732 at Kilburn Crossing[50]. Debt and Liabilities - The company reported total debt outstanding of $599,369,000, with consolidated mortgages payable at $446,471,000[16]. - The total liabilities increased to $508,549,000 in 2024 from $481,518,000 in 2023, reflecting a rise of 5.6%[24]. - The total principal payments due at maturity for consolidated debt is $412,735,000, with a weighted average interest rate of 4.10%[33]. - The total principal payments due at maturity amount to $521,968, representing 100% of the total principal[35]. - The weighted average interest rate for the debt is 4.08% with a debt service coverage ratio of 2.09 for the quarter ended December 31, 2024[35]. Shareholder Returns and Dividends - The company declared a dividend of $0.25 per share for Q1 2025, maintaining the same dividend as the previous year[10]. - The company repurchased 10,286 shares in Q4 2024 at a weighted average price of $17.80, totaling 193,529 shares repurchased in 2024[10]. Strategic Initiatives and Future Outlook - The company expects controllable expense growth to be modest compared to 2024, with a decline in insurance expenses anticipated[11]. - The company plans to pursue additional Preferred Equity financing opportunities similar to previous transactions in 2024[11]. - Long-term, the company believes the Sunbelt region offers advantages due to pro-business states and favorable migration patterns[11]. - The company aims to enhance its market position through strategic expansions and potential acquisitions in the upcoming fiscal year[76]. Joint Ventures and Investments - The equity in earnings from unconsolidated joint ventures was $658,000 for the three months ended December 31, 2024, compared to $588,000 in 2023, showing an increase of 11.88%[20]. - The company reported equity in earnings of joint ventures of $235 million for the twelve months ended December 31, 2024, compared to $126 million in 2023, marking an increase of 86.5%[77]. - The total assets of unconsolidated joint ventures as of December 31, 2024, amounted to $329,710 million, with BRT's share being $148,859 million[78]. - Mortgages payable for the unconsolidated joint ventures were $251,112 million as of December 31, 2024, indicating a significant liability[78]. Credit Losses and Reserves - The company recorded a provision for credit loss of $270,000 for the three months ended December 31, 2024, compared to no provision in the same period of 2023[18]. - The company has implemented a reserve for credit losses under ASU 2016-13, reflecting potential credit losses related to its loan portfolio[54]. - BRT's strategy includes evaluating market conditions and macroeconomic forecasts to adjust its credit loss reserves accordingly[54].

Property Ownership and Investments - As of December 31, 2024, the company wholly owns 21 multi-family properties with a total of 5,420 units and a carrying value of $614.2 million[19] - The company has ownership interests in eight multi-family properties through unconsolidated entities, totaling 2,527 units with a net equity investment carrying value of $31.3 million[19] - The company invested an aggregate of $18.3 million in joint ventures for two multi-family properties, estimating approximately $1.2 million of interest income in 2025 from these investments[22] - The carrying value of preferred equity investments in two multi-family properties is $17.7 million[19] - The company owns other assets with a carrying value of $1.7 million through consolidated and unconsolidated subsidiaries[19] - The company invested an aggregate of $4.0 million for a 17.45% interest in a 240-unit development property located in Johns Island, SC, which is currently in lease-up as of January 1, 2024[33] Financial Performance - As of December 31, 2024, the total number of multi-family properties owned by the company is 21, with a total of 5,420 units generating $94.773 million in rental and other revenues, accounting for 100% of total revenues[26] - The average monthly rental rate per occupied unit across the properties increased from $1,486 in 2023 to $1,539 in 2024, representing a growth of approximately 3.6%[23] - The average physical occupancy rate for the properties was 94.4% in 2024, slightly down from 94.7% in 2023[23] - The company has a significant presence in Texas, with 3 properties generating $21.105 million in rental and other revenues, which is 46% of total joint venture revenues[27] - Approximately 75% of the company's 2024 revenues were generated from properties located in the Southeast, with an additional 10% from Texas[78] - The average rental revenue from properties in Tennessee was $14.048 million, representing 15% of total rental and other revenues in 2024[26] Share Repurchase and Stock Information - The company repurchased 193,529 shares of common stock for approximately $3.5 million, averaging $18.07 per share[22] - The board of directors increased the share repurchase program value to $10 million, extending it through December 31, 2026[21] Debt and Financing - A $27.4 million mortgage was obtained for the Woodland Trails-LaGrange, GA property, maturing in September 2031 with a fixed interest rate of 5.22%[22] - The company amended its credit facility with Valley National Bank, reducing borrowing capacity from $60 million to $40 million and extending maturity to September 2027[22] - As of December 31, 2024, the company had a total mortgage debt of $412.735 million for consolidated properties and $237.706 million for unconsolidated properties, with varying interest rates[90] - The total principal payments due for all multi-family properties is projected to be $703.3 million, with $451.3 million due from consolidated properties and $251.9 million from unconsolidated joint ventures[46] - The weighted average annual interest rate on fixed-rate mortgage debt for wholly owned properties is 4.09% with a remaining term to maturity of 6.1 years[45] Market and Economic Risks - The company faces risks from unfavorable market conditions that could adversely affect rental revenues, occupancy levels, and property values[74] - The company competes with various entities for property acquisitions and financing, with larger competitors having significant advantages[75] - The company faces risks from economic conditions, including inflation, interest rates, and tenant payment issues, which could decrease revenues or increase costs[110] - Climate change poses risks to properties located in coastal areas, potentially leading to increased costs and reduced demand for housing[114] Operational Risks - The company relies on property management companies for operations, and any failure in their performance could lead to decreased occupancy and increased expenses[80] - The company is working to acquire properties directly, which may involve greater risks compared to acquisitions with joint venture partners[81] - Joint venture investments introduce additional risks, including potential disagreements with partners over property management and financial decisions[83] - The company faces risks related to joint venture partners, including potential disputes and differing business objectives, which could adversely affect operations[87] Compliance and Regulatory Risks - The company believes it operates in substantial compliance with the Fair Housing Act and the Americans with Disabilities Act, mitigating potential legal risks[58][57] - The company is subject to regulatory risks, including potential changes to U.S. federal income tax laws that could adversely affect its business[98] - Compliance with the Americans with Disabilities Act (ADA) may require significant capital expenditures, adversely affecting financial condition and results[102] - The company is subject to various federal, state, and local regulatory requirements, which could lead to fines or unanticipated expenditures affecting cash flow and operations[103] Employee and Management Information - As of December 31, 2024, the company had eight full-time employees and utilized part-time personnel under a shared services agreement, with expenses allocated based on estimated time devoted[60] - The aggregate fees for services provided by related parties were $1.7 million in 2025, up from $1.62 million in 2024 and $1.54 million in 2023[61] - The company maintains a competitive benefits program to support employee retention and satisfaction, contributing to a long-tenured workforce[62] Insurance and Liability Risks - The company maintains all-risk property insurance for its multi-family properties, but coverage may be insufficient to compensate for losses from casualty events[85] - Insufficient insurance coverage could adversely affect the company's operating results and portfolio value[86] - Environmental liabilities could impact property values and result in substantial remediation costs for the company[100]

Core Points - BRT Apartments Corp. declared a quarterly dividend of $0.25 per share, payable on April 4, 2025, to stockholders of record as of March 27, 2025 [1] - The Board of Directors approved the extension of the share repurchase program through December 2026, increasing the repurchase value to $10 million [1] Company Overview - BRT is a real estate investment trust (REIT) that owns, operates, and makes preferred equity investments in joint ventures owning multi-family properties [2] - As of December 31, 2024, BRT owns or has interests in 29 multi-family properties with a total of 7,947 units across 11 states, along with preferred equity investments in two additional multi-family properties [2]

Core Insights - Albert Anthony is a Croatian-American media personality who has gained over 1,000 followers on investor platforms since 2023, focusing on markets and stocks [1] - He is set to launch a new book titled "Financial Markets: Growing A Dividend Income Portfolio" in 2025, which aligns with his ongoing article series on the same topic [1] - Albert Anthony has a background in management and information systems, having worked in the IT department of a top-10 financial firm [1] Company Overview - Albert Anthony operates under the brand Albert Anthony & Co., a sole proprietorship registered in Austin, Texas [1] - The company focuses on building a dividend portfolio through the Future Investor Fund, which is managed by Albert Anthony himself [1] Educational Background - Albert Anthony has completed degrees and certificates from various institutions, including Drew University, Corporate Finance Institute, UVA Darden School of Business, CompTIA, and Microsoft [1] Public Engagement - He has participated in numerous business and innovation conferences in Southeast Europe and has spoken at startup and digital nomad events in Croatia and Austin [1]

Core Viewpoint - Investors in BRT Apartments Corp. should closely monitor the stock due to significant movements in the options market, particularly the Mar 21, 2025 $5 Call, which has high implied volatility [1] Group 1: Implied Volatility - Implied volatility indicates the market's expectation of future price movement, with high levels suggesting a potential significant move or an upcoming event that could lead to a rally or sell-off [2] - The current high implied volatility for BRT Apartments may signal a developing trading opportunity, as options traders often seek to sell premium on such options to capture decay [4] Group 2: Analyst Sentiment - BRT Apartments holds a Zacks Rank of 4 (Sell) in the REIT and Equity Trust - Residential industry, which is in the bottom 18% of the Zacks Industry Rank [3] - Over the past 60 days, no analysts have raised their earnings estimates for the current quarter, while one analyst has lowered the estimate, resulting in a decrease of the Zacks Consensus Estimate from 37 cents per share to 36 cents [3]

Group 1 - BRT Realty (BRT) reported quarterly funds from operations (FFO) of $0.36 per share, exceeding the Zacks Consensus Estimate of $0.35 per share, but down from $0.41 per share a year ago, indicating a 12.2% year-over-year decline [1] - The company achieved revenues of $24.4 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 2.50%, and showing an increase from $23.85 million in the same quarter last year [2] - BRT has surpassed consensus FFO estimates two times over the last four quarters and topped consensus revenue estimates three times during the same period [2] Group 2 - The stock has underperformed, losing about 3.2% since the beginning of the year, while the S&P 500 has gained 24.3% [3] - The current consensus FFO estimate for the upcoming quarter is $0.37 on revenues of $23.83 million, and for the current fiscal year, it is $1.42 on revenues of $94.71 million [7] - The Zacks Industry Rank for REIT and Equity Trust - Residential is in the top 37% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]