Brt Apartments Corp. (md) · NYSE:BRT
Brt Apartments Corp. (md) — BRT Apartments — Q3 2017 Earnings Presentation
15 slides from Brt Apartments Corp. (md)'s earnings presentation, Aug 8, 2017
Slide 1: Supplemental Information Quarter Ended June 30, 2017
Supplemental Information Quarter Ended June 30, 2017 Supplemental Information Quarter Ended June 30, 2017 A NATIONAL MULTI-FAMILY EQUITY REIT SERVING OUR CUSTOMERS FOR OVER 35 YEARS
Slide 2: Table of Contents
2 Table of Contents Description Page # Table of Contents 2 Disclosure 3 Company Profile 4 Market Information, Per Share Data and Portfolio Data 5 Consolidated Balance Sheets 6 Consolidated Statements of Operations 7 Acquisitions and Sales 8 FFO/AFFO 9 Debt Information 10 Portfolio Summary Data 11 Ne
Slide 3: Forward Looking Information
The information set forth herein contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking information that is included herein that are not historical facts
Slide 4: Company Profile
4 We are an internally managed real estate investment trust, also known as a REIT, that is primarily focused on the ownership, operation and development of multi-family properties. These activities are primarily conducted through joint ventures in which we typically have a majority equity interest i
Slide 5: Market Information, Per Share Data and Portfolio Data
2017 2016 2016 2015 2014 Market Information Market capitalization 110,236,744$ 99,434,707$ 111,190,680$ 99,976,487$ 107,273,903$ Shares outstanding 14,025,031 13,906,952 13,898,835 14,101,056 14,303,187 Closing share price 7.86$ 7.15$ 8.00$ 7.09$ 7.50$ Portfolio Multi family properties owned 35 31 3
Slide 6: Consolidated Balance Sheets
2016 2015 2014 Assets Real estate properties, net of accumulated depreciation 890,100$ 759,576$ 591,727$ 635,612$ Real estate loan 5,650 19,500 - - Cash and cash equivalents 9,795 27,399 15,556 23,181 Restricted cash 5,791 7,383 6,518 32,390 Deposits and escrows 26,407 18,972 12,782 12,273 Investmen
Slide 7: Consolidated Statements of Operations
2017 (Unaudited) 2016 (Unaudited) 2016 2015 2014 Revenues Rental and other revenue from real estate properties 26,673$ 23,679$ 90,945$ 77,023$ 61,725$ Other income 188 608 3,319 72 88 Total revenues 26,861 24,287 94,264 77,095 61,813 Expenses Real estate operating expenses 13,283 11,986 43,262 38,60
Slide 8: Acquisitions and Sales – Quarter ended June 30, 2017
Acquisitions Location Purchase Date No. of Units Contract Purchase Price Acquisition Mortgage Debt Initial BRT Equity Ownership Percentage Capitalized Acquisition Costs Creve Coeur, MO 4/4/2017 174 39,600$ 29,000$ 9,408$ 78.0% 569$ Nashville, TN (1) 6/2/2017 402 5,228 - 4,800 58.0% - Dallas, TX 6/29
Slide 9: FFO/AFFO
2017 (Unaudited) 2016 (Unaudited) 2016 2015 2014 GAAP Net (loss) income attributable to common stockholders (3,402)$ 5,480$ 31,289$ (2,388)$ (9,454)$ Add: depreciation of properties 7,561 5,871 24,329 20,681 15,562 Add: our share of depreciation in unconsoliated joint ventures 308 5 20 20 20 Add: am
Slide 10: Debt Information
10 Debt Information at June 30, 2017 (Dollars in thousands) Mortgage Debt Year Total Principal Payments Scheduled Amortization Principal Payments Due at Maturity Percent of Total Payments Due At Maturity Weighted Average Interest Rate (a) 2017 1,542$ 1,542 - - - 2018 35,297 6,297 29,000 5% 3.67% 201
Slide 11: Portfolio Summary
Portfolio Summary State Number of Properties Number of Units Average monthly rent per occupied unit for the quarter Average monthly occupancy for the quarter Texas 12 3,259 924$ 92.5% Georgia 4 959 935 95.2% Florida 3 1,026 1,151 93.7% South Carolina 3 683 1,018 94.7% (1) Alabama 2 826 727 94.2% Mis
Slide 12: Net Operating Income – Quarterly
Quarter ended June 30, 2017 (Unaudited) REVENUES EXPENSES NET OPERATING INCOME PERCENT OF TOTAL NOI Texas 8,038$ 4,460$ 3,578$ 27% Florida 3,722 1,844 1,878 14% Georgia 2,877 1,360 1,517 11% Missouri 2,641 1,217 1,424 11% Mississippi 2,093 789 1,304 10% Alabama 1,942 940 1,002 7% South Carolina 1,59
Slide 13: Net Operating Income - Prior Fiscal Year
Revenues Expenses Net Operating Income Texas 23,827$ 12,158$ 11,669$ Florida 15,652 7,197 8,455 Georgia 10,706 4,422 6,284 Tennessee 9,735 5,653 4,082 Alabama 6,966 3,199 3,767 South Carolina 6,613 2,973 3,640 Missouri 3,854 1,672 2,182 Indiana 3,152 1,588 1,564 Kansas 3,132 1,325 1,807 Mississippi
Slide 14: Reconciliation of Net (Loss) Income to Net Operating Income
We define NOI as total property revenues less total property operating expenses. Other REIT’s may use different methodologies for calculating NOI, and accordingly, our NOI may not be comparable to other REIT’s. We believe that this measure provides an operating perspective not immediately apparent f
Slide 15: Definitions
Definitions Funds from Operations (FFO) FFO is a non-GAAP financial performance measure defined by the National Association of Real Estate Investment Trusts and is widely recognized by investors and analysts as one measure of operating performance of a REIT. The FFO calculation excludes items such a