Financial PerformanceBRT reported 3Q24 Core FFO of $0.31, which beat our estimate of $0.27 and consensus estimates of $0.29.
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.
Stock RepurchaseManagement has been repurchasing stock, which is considered the best usage of FCF as shares are trading at a 41% discount to NAV.