BRT Realty Trust (BRT)

[wiltonio]

TOWERVIEW LLC has filed a new 13G, reporting 5.4% ownership in $BRT - https://fintel.io/so/us/brt

[OptionMonster]

Pounded this one all the way to $7 today french>>Did not catch it fast enough!

[HAK41]

Ex Div Date 9/19/08
62 cents dividend plus an extra cash dividend of 71 cents with payout for both on 10/2/08.

[frenchee]

Need some volume to confirm and BRT looks good to go...

[OptionMonster]

BRT REALTY TRUST Declares Cash Dividend to Shareholders

BRT REALTY TRUST (NYSE:BRT) announced today that its Board of Trustees has declared its quarterly cash dividend of $.62 per share payable on July 7, 2008 to shareholders of record on June 25, 2008.

[OptionMonster]

27-May-08 Friedman Billings Downgrade Mkt Perform to Underperform

[OptionMonster]

Low of $12.62 yesterday Frenchee..Getting closer to that W@G

[OptionMonster]

Getting close to that W@G Frenchee!

[OptionMonster]

Getting a little closer to your $12.21!

[frenchee]

Thanks OM...

[OptionMonster]

I just sent them an E-Mail..They had PR'd a 1 million share buyback and looking over the Q's I see a slight increase in the O/S...Will let you know if and what I hear from them..Thanks!

[frenchee]

After Friday's beatdown, BRT appears to be a candidate for further beating. After looking at the weight of the evidence suggested by the weekly charts, I'm giving the benefit of the doubt to the bears. Here's the clues pointing me toward this conclusion:

- BRT is trading under key long-term weekly MAs of 13, 34, 39, and 65.

- ADX is 17.22 and decreasing with momentum rolling over. This can be seen in: RSI bouncing off the 50 level, Force Index, and Full Sto indicators.

- Since the rally starting in early March, volume trend didn't confirm price trend. Perhaps short sellers were covering positions causing a rally, and money is leaving the marketplace.

- Lastly, negative divergence between price trend and Chi Osc. This corroborates the volume analysis above.

My W@G is support around 12.21...

[OptionMonster]

BRT Realty Trust Declares Cash Dividend to Shareholders; Announces Adoption of Buy Back Program and Suspension of Dividend Reinvestment Plan; Provides Update on Loan Portfolio
BRT REALTY TRUST (NYSE:BRT) announced today that its Board of Trustees has declared a quarterly cash dividend of $.62 per share payable on April 3, 2008 to shareholders of record on March 24, 2008. With respect to the company’s dividend policy, Jeffrey Gould, President and CEO of BRT stated that it has been BRT’s policy to declare and pay to its shareholders 100% of its taxable income, including both ordinary taxable income and capital gains, within the time frames prescribed by the Internal Revenue Code, as amended, and the rules and regulations under the code. He commented that taxable income and capital gains income of BRT for calendar 2007 must be distributed by the end of October 2008 and that the present dividend is attributable to said 2007 earnings.

BRT also announced that its Board of Trustees has authorized the repurchase of up to 1,000,000 of BRT’s common shares in the open market from time to time, subject to applicable rules and regulations. BRT intends to appoint a brokerage firm as its agent in executing such transactions.

In view of the buy back program and the current market price of BRT’s common shares its Board of Trustees deems it advisable to suspend BRT’s Dividend Reinvestment Plan and terminate the stock purchase option provided for in the Dividend Reinvestment Plan. Accordingly, effective immediately the Dividend Reinvestment Plan of BRT is suspended and the optional purchase provision of the Dividend Reinvestment Plan is terminated.

BRT also announced the following with respect to changes in its loan and real estate portfolios from January 1, 2008 through March 10, 2008:

Foreclosure proceedings have been completed with respect to a loan secured by 62 condominium units located in Miami Beach, FL and 18 condominium units located in West Palm Beach, FL. The loan was in the principal amount of approximately $11,600,000 at the time the foreclosure was completed. BRT has commenced a sales program with respect to these condominium units. Subject to completion of its usual quarterly review, management of BRT has determined that this asset is not impaired and no write down is required at this time.
In February 2008, BRT received approximately $1,500,000 from the guarantor of a loan previously reported as non-earning in connection with a transaction whereby a BRT subsidiary received a deed in lieu of foreclosure to the property. The loan, which is secured by an 8.5 acre development parcel located in Daytona, FL, was in the original principal amount of $16,000,000. A $3,000,000 loan loss allowance was established with respect to this loan in the quarter ending December 31, 2007. The $1,500,000 payment will be used to reduce the outstanding balance of this asset. BRT is continuing its foreclosure action to wipe out junior liens against the property.
In February, 2008 BRT sold an industrial property located in South Plainfield, N.J., for approximately $1,640,000 after costs and expenses. BRT acquired the property in a foreclosure proceeding in August 2007. BRT expects that this sale will result in a gain of approximately $260,000 in the quarter ending March 31, 2008.
To date in the March 2008 quarter, BRT has received approximately $490,000 from the sale of four units at the Orlando, Florida condominium project taken back in foreclosure in November 2007. BRT is pursuing a sales program with respect to the remaining condominium units and, depending on market conditions, may rent units in the future.
The interest due on February 1, 2008 with respect to five loans made to five borrowers under the control of the same principal was only partially paid and the interest due on March 1, 2008 has not been paid to date. The five loans, with an aggregate principal amount of approximately $62,400,000, are secured by seven separate, multi-family residential properties located in the State of Tennessee. The borrowers have retained a national financial advisor as agent to sell these properties. BRT has orally committed to acquire title to one of these properties, a 308 unit garden apartment project located in Chattanooga in payment of the $25.7 million loan secured by this property. BRT has been advised that an expression of interest has been received from the representative of a potential buyer for the other six properties. BRT has reached an oral arrangement with representatives of the borrowers to forebear from foreclosing on the seven properties for a short period of time in order to allow for a deed to be delivered to a subsidiary of the company for the Chattanooga property and the sale process to proceed on the other six properties. In return for the forbearance, the borrowers have orally agreed to deliver a deed in lieu of foreclosure to the property in Chattanooga, TN in satisfaction of the mortgage secured by this property and to have all operating cash flow from these seven properties paid currently to BRT under a tri-party management arrangement. If the deed to the Chattanooga property is not delivered within a reasonably short period of time and a contract of sale for the other six properties is not consummated within the same short time frame, then these loans, or a portion thereof, will be categorized as non-performing at March 31, 2008 and foreclosure proceedings will commence.
Jeffrey Gould stated that the Chattanooga property is a quality residential property which BRT believes provides an excellent investment opportunity. He also stated that he is hopeful that the other Tennessee properties which are generally well maintained and cash flow positive, will be subject to a contract of sale shortly and sales consummated by May 2008. He further commented that BRT will complete foreclosure actions and own and operate these properties if sales are not completed. In addition, based on its current analysis of the portfolio of Tennessee properties, BRT believes the value of the collateral is sufficient to satisfy the outstanding balance of each of these loans and, therefore, subject to completion of its usual quarterly review, no write down is required on these properties.

BRT REALTY TRUST is a mortgage-oriented real estate investment Trust.

Certain information contained herein is forward looking 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, including statements regarding payments of cash distributions, and the value of the collateral securing loans. BRT intends such forward looking statements to be covered by the safe harbor provisions for forward looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words “may”, “will”, “believe”, “expect”, “intend”, “anticipate”, “estimate”, “project”, or similar expressions or variations thereof. Forward looking statements, including, with respect to a non-performing loan, involve known and unknown risks, uncertainties and other factors, which, in some cases, are beyond BRT’s control and could materially affect actual results, performance or achievements. Investors are cautioned not to place undue reliance on any forward-looking statements.



BRT Realty Trust
Simeon Brinberg, 516-466-3100



Source: Business Wire (March 10, 2008 - 5:14 PM EDT)

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[frenchee]

this stock is starting to look attractive once again...not time to buy yet but should be getting close...

[OptionMonster]

Probably has something to do with the "special dividend" rumor that is cirulating..lol

[frenchee]

BRT on a short-term buy signal today...

[frenchee]

BRT still in a short-term negative down trend. Potential trendline support @ 13.30. Not ready for a long IMHO.

[OptionMonster]

Note to self: Insiders buying back in December $15-$16 range..Good sign IMO!

[OptionMonster]

Make the yield 17.55% now...WOW!

[OptionMonster]

Look at the yield on BRT now Frenchee...16.95%!! Geesh!

[frenchee]

Perhaps. My read of the tea leaves is suggesting a consolidation between 2.35 and 4. The negative "mo" is starting to lessen but hasn't turned IMO.

[OptionMonster]

No problem..In regard to FRPT..I think the knife has already landed..Up from here????

[frenchee]

I looked at Barrons and WSJ and couldn't find the news. I confused them with COMPUSA. Sorry.

Relative to the TA on CC, I'd wait and see if 4 will hold. If so, that's a major double bottom on the weekly charts.

[OptionMonster]

Do you have a link stating that?

[frenchee]

Aren't they going out of business? I recall a few weeks ago they made an announcement they would close the doors in 08. If so, I wouldn't touch it...

[QuickTrade]

Hey frenchee..I was thinking about starting a Real Estate board and came across this one..as the ibox is loading up a gigantic chart comes up..I thought about you first..and there you are as the assistant. lol!

Good to see you.

[OptionMonster]

What do you see in regard to CC?? I am seriously thinking of starting to accumulate that one...

[OptionMonster]

Thank you Frenchee..In regard to RAD..UBS put a buy rating on it last week..I am surprised not to see any 13D's coming through yet other than the majority holder..Perhaps when 2008 kicks in we could see some institutions loading up on her..Long term looks like they will make it...

[frenchee]

RAD--Possible support at 2.67; otherwise next support @ 2.15. My guess is 2.67 might hold.







CFC--The free fall on the weekly charts are starting to loose downward momentum. If 8.21 holds, will see some basing or consolidation around this level. If 8.21 doesn't hold next support around 5.23.







FRPT--Looks like a sharp knife...





WM--Next support at 11.81

[OptionMonster]

Hey French..Have you been following RAD, CFC, FRPT and WM? Thoughts on any of them in particular CFC and RAD?

[OptionMonster]

Was reading alot of the filings this morning..They have quiet a large $ amount of Non Paying Loans...However, do like the fact they are still holding $31.6M in shares of that other company...This yield is sick..Can they substain? Insiders purhased some more at the $16 level...Hmmmm....????

[frenchee]

Thanks

[OptionMonster]

Added you Frenchee..Feel free to add charts to any of the I-Boxes..

[frenchee]

BRT Daily One-Year Charts