BRT Apartments Corp. (NYSE:BRT) Q2 2022 Earnings Conference Call August 9, 2022 8:30 AM ET

Company Participants

Stephen Swett - Investor Relations

Jeffrey Gould - President and Chief Executive Officer

George Zweier - Chief Financial Officer

Ryan Baltimore - Chief Operating Officer

David Kalish - Senior Vice President

Conference Call Participants

Gaurav Mehta - EF Hutton

Craig Kucera - B. Riley Securities

Michael Gorman - BTIG

Operator

Thank you for standing by. This is the conference operator. Welcome to the BRT Apartments Corp, Second Quarter 2022 Earnings Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]

At this time, I would like to turn the floor over to Stephen Swett, Investor Relations. Thank you. You may begin.

Stephen Swett

Thank you for joining us today for BRT Apartment Corp.'s second quarter 2022 earnings conference call. On the call today is Jeff Gould, President and Chief Executive Officer. Also available are George Zweier, Chief Financial Officer; Ryan Baltimore, Chief Operating Officer; and David Kalish Senior Vice President.

I would like to remind everyone that this conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management's current expectations, assumptions and beliefs. Forward-looking statements can often be identified by words such as believe, expect, estimate, anticipate, intend and similar expressions and variations or negatives of these words. These forward-looking statements include, but are not limited to, statements regarding BRT's strategy and expectations for the future.

They are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Listeners should not place undue reliance on any forward-looking statements and are encouraged to review the company's SEC filings including its Form 10-K and Form 10-Q for a more complete discussion of risks and other factors that could affect these forward-looking statements. Except as required by law, BRT does not undertake any obligation to publicly update or revise any forward-looking statements.

This conference call also includes a discussion of funds from operations, or FFO, adjusted funds from operations, or AFFO, net operating income, or NOI, and information regarding our pro rata share of revenues, expenses, NOI, assets and liabilities of BRT's unconsolidated subsidiaries, all of which are non-GAAP financial measures of performance. These non-GAAP measures should be used as a supplement to, and not a substitute for, net income computed in accordance with GAAP. Unless otherwise indicated, or the context otherwise requires, discussions with respect to operating results at the unconsolidated ventures, reflect BRT's pro rata share of such results.