BRST
Broad Street Realty, Inc.0.0110
+0.0000+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
384.55KP/E (TTM)
0.05Basic EPS (TTM)
0.23Dividend Yield
0%Recent Filings
8-K
8-K
Board director resigns abruptly
Broad Street Realty's board accepted Jeffrey H. Foster's immediate resignation on August 27, 2025, as director and Audit Committee chair, with no disagreements cited, and trimmed its size from seven to six members. Jeffery C. Walraven stepped in as Audit Committee chair on September 3, 2025. Board continuity holds steady. No operational disruptions disclosed.
10-Q
Q2 FY2025 results
Broad Street Realty swung to a $44.7 million net income for Q2 FY2025 ended June 30, 2025, up from a $4.5 million loss a year earlier, driven by a $56.9 million gain on deconsolidating its Eagles Sub-OP joint venture while posting a $9.3 million equity-method loss from the venture's operations. Revenues plunged 92% y/y to $0.8 million (derived), reflecting the deconsolidation's impact on rental income, with commissions down 44% y/y to $0.5 million and management fees up sharply to $0.4 million; operating loss widened to $1.7 million from $0.5 million, as expenses fell 76% but G&A held at $2.2 million. Diluted EPS rose to $0.86 from a $0.21 loss, confirmed against 44.4 million weighted shares with no anti-dilution flagged. Cash dwindled to $0.7 million amid $0.8 million negative operating cash flow, with no debt on the balance sheet post-deconsolidation but substantial doubt on going concern due to liquidity strains. The deconsolidation, triggered by Fortress's removal as managing member on April 8, 2025, ended property management ties by June 30. Yet liquidity hinges on uncertain third-party financing or asset sales. Competition in brokerage services adds pressure on slimmed-down revenues.
10-Q
Q1 FY2025 results
Broad Street Realty nudged revenues up 5% year-over-year to $10.6M in Q1 FY2025 ended March 31, 2025, with rental income climbing 3% to $9.8M on stronger tenant recoveries, while commissions surged 41% to $0.7M from higher leasing volume; yet operating expenses dipped just 2% to $10.8M, trimming the operating loss to $0.2M from $0.9M. Gross margins held steady around 71%, but net loss widened to $5.6M from $1.9M, driven by a $2.6M swing to a loss on fair value changes in debt and derivatives, plus 10% higher interest expense at $4.8M; diluted EPS fell to $(0.24) from $(0.16) on 36.7M shares, reconciling cleanly without anti-dilution. Cash dipped to $13.5M with negative $1.0M operating cash flow (derived), offset by minor investing inflows, while total debt stood at $246.9M including a $16.7M mezzanine loan at 14% now in default post-Fortress takeover of the Eagles Sub-OP JV, prompting property sales to cover $111.9M preferred redemption and $19.1M mezz prepay. No M&A or non-GAAP metrics disclosed in the 10-Q. Fortress's control risks liquidity amid going-concern doubts.
8-K
Fortress seizes control of Broad Street
Broad Street Realty's Fortress affiliate rescinded a waiver on April 8, 2025, triggering a default under the Eagles Sub-OP agreement and ousting the company's operating partnership as managing member. This escalates the $98.4 million preferred equity balance, hikes distribution rates by up to 4%, and empowers Fortress to force property sales or redemptions including a $10 million exit fee. A linked $16.9 million mezzanine loan also defaulted, risking foreclosure on key collateral. Fortress now controls all company properties.
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