The improved credit terms (lower spread and floor) reduce future borrowing costs if the facility is drawn, but the $0 outstanding balance suggests no immediate need for capital. Monitor for any future draws on the facility or execution of the repurchase program.
Price Chart
Executive Summary
BRT Apartments Corp. entered into a fourth amendment to its credit facility with VNB New York, LLC, reducing the interest rate spread from SOFR+250bps to SOFR+210bps and lowering the minimum interest rate from 6% to 5%. Separately, the board authorized a $10 million stock repurchase program replenishment. The facility remains undrawn with $40 million available.
Key Financial Metrics
Key Facts
- Interest rate reduced to 3-month Term SOFR + 210 bps (from +250 bps)
- Minimum interest rate reduced to 5% (from 6%)
- Cap rate floor reduced to 6.25% (from 6.5%)
- Outstanding principal balance on the facility is $0 as of September 17, 2026
- Facility size remains $40 million
- Board authorized replenishment of stock repurchase program to $10 million
Financial Impact
Interest cost reduction of 40 bps on the spread and 100 bps on the floor; $10 million stock repurchase authorization replenished. No immediate cash impact as facility is undrawn.
Risk Factors
- Facility remains undrawn — improved terms have no current P&L impact
- Stock repurchase authorization is discretionary and may not be executed
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000014846-26-000042 |
| Document: brt-20260917.htm | 0000014846-26-000042 |
| Document: 0000014846-26-000042-index-headers.html | 0000014846-26-000042 |
| Document: 0000014846-26-000042-index.html | 0000014846-26-000042 |
| Document: 0000014846-26-000042.txt | 0000014846-26-000042 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 17, 2026 5w ago | 8-K | $13.82 | awaiting T+60 | — | $12.94 (−6.37%) |
Sep 17, 2026 5w ago | Press Release | $13.57 | awaiting T+60 | — | $12.94 (−4.64%) |
May 7, 2026 24w ago | 8-K | $14.66 $14.25 | ▼ −2.80% | ▼ −7.64% | $12.94 (−11.73%) |
Apr 24, 2026 26w ago | S-3 | $14.32 $14.95 | ▲ +4.40% | ▼ −0.38% | $12.94 (−9.64%) |
Mar 13, 2026 32w ago | Press Release | $13.86 $14.72 | ▲ +6.20% | ▼ −5.41% | $12.94 (−6.64%) |
Mar 13, 2026 32w ago | 8-K | $13.86 $14.72 | ▼ −6.20% | ▲ +5.41% | $12.94 (+6.64%) |
Mar 11, 2026 32w ago | Press Release | $14.15 $14.64 | ▲ +3.43% | ▼ −7.27% | $12.94 (−8.58%) |
Mar 4, 2026 33w ago | 8-K/A | $14.43 $14.37 | ▼ −0.41% | ▼ −11.71% | $12.94 (−10.32%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers