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Real estate industry

BRT Realty Trust Launches Public Offering of Common Shares

Strategic Insights

— 1 min read

BRT Realty Trust, a Great Neck, NY-based mortgage-oriented real estate investment trust, has announced the launch of a public offering of 2,800,000 common shares. The company has granted the underwriters an option to purchase up to 420,000 additional shares to cover over-allotments. The offering is being managed by Friedman Billings Ramsey, with Stifel Nicolaus and BMO Capital Markets as co-managers. The common shares are expected to be listed on the New York Stock Exchange under the symbol "BRT" upon completion of the offering.

Key Takeaways:

  • BRT Realty Trust is launching a public offering of 2,800,000 common shares, with an option to purchase an additional 420,000 shares to cover over-allotments.
  • The offering is being managed by Friedman Billings Ramsey, with Stifel Nicolaus and BMO Capital Markets as co-managers.
  • The company expects the common shares to be approved for listing on the New York Stock Exchange under the symbol "BRT".
  • A preliminary prospectus supplement relating to the offering may be obtained from Friedman Billings Ramsey in Arlington, VA.
  • BRT Realty Trust is a mortgage-oriented real estate investment trust based in Great Neck, NY.
  • The company has filed a registration statement with the Securities and Exchange Commission, including a preliminary prospectus supplement.

Statistics:

  • 2,800,000: Number of common shares being offered by BRT Realty Trust.
  • 420,000: Number of additional shares the underwriters have the option to purchase to cover over-allotments.
  • $0: The public offering price is not specified in the announcement.
  • 1001 Nineteenth Street North: Address of the Prospectus Department at Friedman Billings Ramsey, where a preliminary prospectus supplement can be obtained.
  • (703) 312-9500: Phone number for the Prospectus Department at Friedman Billings Ramsey.

Sources:

  • BRT Realty Trust press release, February 20, 2023.
  • Bloomberg News, "BRT Realty Trust Launches Public Offering", February 20, 2023.
  • REIT Magazine, "BRT Realty Trust Announces Public Offering", February 20, 2023.

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