BRT房地产信托 2026年季度报告

FORM10-Q ☒Quarterly Report Pursuant to Section13 or 15(d)of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2026 OR ☐Transition Report Pursuant to Section13 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) 13-2755856 (I.R.S. Employer Identification No.) 516-466-3100(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act:Title of each classTrading Symbol(s)Name of each exchange on which registeredCommon StockBRTNYSE Indicate by check mark whether the Registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2)has beensubject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Date File required to be submitted pursuant toRule405 of Regulations S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany or an emerging growth company.See definition of “large accelerated filer” “accelerated filer”, “smaller reporting company” and"emerging growth company" in Rule12b-2 of the Exchange Act.(Check one): Large accelerated filer☐Accelerated filer☐Non-accelerated filer☒Smaller reporting company☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ Indicate the number of shares outstanding of each of the issuer’s classes of stock, as of the latest practicable date. 18,822,320 shares of Common Stock,par value $0.01 per share, outstanding on April30, 2026 BRT APARTMENTS CORP. AND SUBSIDIARIESTable of Contents Part I - Financial InformationPage No.Item 1.Financial StatementsConsolidated Balance Sheets –March 31, 2026 (unaudited) and December 31, 2025 (audited)2Consolidated Statements of Operations – Three months endedMarch 31, 2026 and 2025(unaudited)3Consolidated Statements of Equity – Three months endedMarch 31, 2026 and 2025(unaudited)4Consolidated Statements of Cash Flows – Three months ended March 31, 2026 and 2025 (unaudited)6Notes to Consolidated Financial Statements8Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations19Item 3.Quantitative and Qualitative Disclosures About Market Risks29Item 4.Controls and Procedures29Part II – Other InformationItem 2.Unregistered Sales of Equity Securities and Use of Proceeds30Item 5.Other Information31Item 6.Exhibits31 Explanatory Note Unless otherwise indicated or the context otherwise requires: •all references “us”, “we”, “BRT” or the “Company” refer to BRT Apartments Corp. and its consolidated and unconsolidated subsidiaries;•"acquisitions" include investments in unconsolidated joint ventures;•the term "promote" refers to our joint venture partner's share of the income and/or cash flow from a multifamily property greater than thatimplied by their percentage of equity interest in such project;•we refer to certain entities as “affiliated entities”, because such entities share with us certain executive personnel and ownership. Our“affiliated entities” include Gould Investors L.P. (“Gould Investors”), a master limited partnership involved primarily in the ownershipand operation of a diversified portfolio of real estate and other assets; Georgetown Partners LLC (“Georgetown”), which is the managinggeneral partner of Gould Investors and which is controlled by Jeffrey A. Gould, our President, Chief Executive Officer and a director, andMatthew J. Gould, our Senior Vice President and a director; One Liberty Properties, Inc. (“OLP”), a NYSE listed industrial focusedREIT; and Majestic Property Management LLC. (“Majestic Property”), a property management company which compensates certain ofour executive officers, and which is indirectly owned by, among others, Messrs. J. Gould and M. Gould. The use of the term "affiliatedentities" or similar terms does not constitute an acknowledgement that such person(s) or entities are affiliates (as such term is used in theSecurities Act (as defined below) or Exchange Act (as defined below) of ours or one another;•"same store properties" refer to properties that we owned and operated for the entirety of periods being compared, except for propertiesthat are in l