Successful Business Simplification
BRT has simplified its business by taking full ownership of a majority of its properties, improving its balance sheet, and implementing a disciplined approach to capital allocation. They have no significant mortgage debt maturities until early 2026.
Strategic Share Repurchases
BRT has repurchased $16.7 million of shares during 2023 and into 2024, which management believes is a smart long-term investment.
Positive Long-term Market Outlook
Despite current challenges, BRT remains optimistic about growth in 2025 and 2026, particularly in the Sunbelt region, due to anticipated absorption of new supply and limited permitting.