BRT Apartments Q2 net income $11.2M ($0.58 EPS), affirms FY guidance

BRT Apartments Corp.

2023-Q2 EPS reported $0.37 revenue$46,257,000

Net income of $11.2M, $0.58 diluted EPS; FFO of $0.28/diluted share, AFFO $0.37.
Combined Portfolio NOI increased 1.4% YoY for Q2 2023.
Completed disposition of Dallas JV asset for $19.4M net proceeds, $14.7M gain, 22% IRR.
Repurchased 309,153 shares in Q2 at ~$19.03; $3.25M remains under buyback authorization.
Affirmed full year 2023 guidance and underlying assumptions issued March 14, 2023.

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