BRT — what changed in the latest 10-Q
A section-by-section comparison of BRT's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-10 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +48 | −25 | ~18 | 47 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Other information | Text added/removed | +3 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings, Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-10
On June 2, 2026, we entered into an agreement to acquire Ranch Lake Apartments, a 336-unit multifamily property located in Bradenton, Florida. The purchase price is approximately $80 million (subject to customary closing purchase price adjustments), including the assumption of an approximately $45.7…
We anticipate that in August 2026, we will acquire, through a joint venture in which we anticipate having a 70% interest, a multifamily property located in Houston, Texas for approximately $33 million; the venture anticipates funding the purchase price in part by obtaining an approximate $23.4 milli…
On June 9, 2026, the Stono Oaks joint venture exercised its right to extend the maturity of its $37.2 million, 5.83% floating interest rate construction loan through June 9, 2027. Such venture is also entitled, subject to the satisfaction of certain conditions, to further extend the loan maturity th…
In July 2026, we refinanced the maturing mortgage of $27.8 million (bearing an interest rate of 3.73%) on our Civic Center 2 - Southaven, MS property with a new mortgage of $47.9 million; such mortgage debt matures in August 2036, bears a fixed interest rate of 5.38% and is interest only through mat…
During the quarter ending September 30, 2026, we have a maturing mortgage principal amount of $23.7 million and bearing an interest rate of 3.97%. We anticipate that (i) we will refinance this mortgage (the "Contemplated Refinancing") by obtaining new mortgage debt of approximately $27.2 million, (i…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
As used herein, the term "same store properties" refers to multifamily properties that were wholly owned for the entirety of the periods presented. For the three months ended March 31, 2026 and 2025, all of our multifamily properties in our consolidated portfolio are same store properties.
The increase is due primarily to improvements in rental (which include the effect of straight line rent adjustments related to rent concessions) and occupancy rates. Approximately $349,000 of the improvement pertains to Bells Bluff.
The change is due primarily to decreases of $162,000 of payroll costs across the portfolio and $109,000 of insurance expenses due to lower premium rates. The decrease was offset by an increase of $182,000 of expense primarily due to remediating damage from casualty events at River Place and Bells Bl…
We believe that real estate operating expense will increase in 2026 due to, among other things, anticipated increases in payroll expense and that due to, among other things, the conflict in Iran, utility expense.
The change is due primarily to the additional $357,000 mortgage interest expense related to the refinancing of the River Place, Boerne and Civic 1 mortgages in December 2025 which added $29 million to our debt and at a higher interest rate (a weighted average interest rate of 4.95%) than the debt th…
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-10
On June 23, 2026, we awarded an aggregate of 171,788 shares subject to restricted stock units (“RSUs”), and related dividend equivalent rights. Generally, the awards vest in 2029 subject to the satisfaction of, among other things, market and performance conditions similar to the conditions applicabl…
In August 2026, we determined that the performance and market conditions with respect to the vesting of 176,625 RSUs and the related dividend equivalents rights awarded in 2023 had not been met as of June 30, 2026. Accordingly, all of such awards were cancelled and forfeited.
As previously reported, on July 8, 2026, we entered into an agreement to acquire, subject to the satisfaction of certain conditions, The Waterford on Piedmont, a 153-unit, ten-story high-rise multifamily property located in the Midtown submarket of Atlanta, Georgia, for a purchase price of $35 milli…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice