New England Realty Associates
Operator of Greater Boston apartments and mixed-use properties via publicly traded depositary receipts.
Something off on this page? Send us feedback.
Profile
Operates and develops a Greater Boston-centered portfolio of rental apartments, mixed-use buildings and limited commercial property, earning nearly all revenue from rent through a partnership whose properties are externally managed by an affiliated company and publicly traded as depositary receipts.
Owns, operates, develops and selectively sells a concentrated portfolio of apartments, mixed-use buildings and a smaller commercial-property base across Eastern Massachusetts and Southern New Hampshire, primarily metropolitan Boston. Rental income comes chiefly from residential apartments and condominium units; commercial rents and service income provide smaller contributions. Its local platform includes Hill Estates, Mill Street Gardens, Mill Street Heights and Westgate Apartments.
Relies on the affiliated Hamilton Company for property management, leasing, maintenance, construction, accounting, legal and architectural services, while NewReal, its general partner, controls management decisions. Public trading occurs through depositary receipts representing fractional Class A partnership units rather than common shares. Covered Boston assets are subject to energy-use reporting and emissions standards.
Company facts
Key statistics
Year to date −14.0% · Average volume (30d) 745
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 14, 2026Q2 FY26 | — | −$0.33 | — | — | $24.4M | — | −0.88% |
| Aug 7, 2026Q2 FY26 | — | −$9.99 | — | — | $24.4M | — | +0.57% |
| May 8, 2026Q1 FY26 | — | −$33.61 | — | — | $24.2M | — | 0.00% |
| Mar 13, 2026Q4 FY25 | — | −$11.92 | — | — | $23.6M | — | −1.60% |
Financial highlights
| 11 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $20.7M | $21.2M | $23.7M | $23.6M | $24.2M | $24.4M | |
| Gross profit | $14.3M | $14.2M | $15.1M | $15.6M | −$3.2M | $103.0K | |
| Operating income | $6.2M | $7.1M | $4.7M | $3.7M | $1.5M | $4.0M | |
| Net income | $3.8M | $4.1M | −$521.8K | −$1.4M | −$3.9M | −$1.2M | |
| Diluted EPS | $1.08 | $1.19 | −$0.15 | −$0.40 | −$1.12 | −$0.33 | |
| Gross margin | 69.2% | 66.7% | 63.7% | 66.1% | -13.1% | 0.4% | |
| Operating margin | 30.1% | 33.3% | 20.0% | 15.7% | 6.2% | 16.6% |
Fiscal years (4-quarter sums)FY24 $80.5M · FY25 $89.2M
Balance sheet, Jun 30, 2026Cash & short-term investments $24.75B · Total debt $526.2M · Total assets $493.9M · Shareholders' equity −$82.4M
Dividends
Raised for 29 straight years — most recently to $0.40 from $0.32 in Jun 2023. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 15, 2026 | Jun 15 | Jun 30 | $0.40 | |
| Mar 24, 2026 | Mar 24 | Mar 31 | $0.40 | |
| Dec 16, 2025 | Dec 16 | Dec 31 | $0.40 | |
| Sep 15, 2025 | Sep 15 | Sep 30 | $0.40 | |
| May 23, 2025 | May 23 | May 30 | $0.40 | |
| Mar 24, 2025 | Mar 24 | Mar 31 | $3.60 | special dividend |
| Dec 16, 2024 | Dec 16 | Dec 31 | $0.40 | |
| Sep 13, 2024 | Sep 13 | Sep 30 | $0.40 |
Ownership
Shares outstanding 3.49M · Float 2.22M · 63.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Brown Jameson Pruitt | 878.5K | 31.50% | 13D | Jun 26, 2026 |
| Maura Brown | 146.6K | 5.30% | 13G | Aug 3, 2026 |
| Caldwell Sutter Capital, Inc. | 29.0K | 0.83% | 13F | May 6, 2026 |
| Warberg Asset Management LLC | 17.7K | 0.51% | 13F | May 7, 2026 |
| Susquehanna International Group, LLP | 17.5K | 0.50% | 13F | May 15, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- AvalonBay Communities
Large Greater Boston apartment platform in leasing and asset bids.
- Equity Residential
Scale apartment owner competing for Greater Boston renters and assets.
- UDR
Boston apartment operator competing for renters and multifamily assets.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| New England Realty Associates | $55.49 | 0.00% | $193.9M | — | — | 2.0 | +14.9% |
| AvalonBay Communities | $184.06 | 0.00% | $26.28B | 25.4 | 35.5 | 8.5 | −6.3% |
| Equity Residential | $63.66 | −3.50% | $23.87B | 27.9 | 42.5 | 7.6 | +2.1% |
| UDR | $37.12 | −0.01% | $11.93B | 23.6 | 64.3 | 6.9 | −0.6% |
| Median | 25.4 | 42.5 | 7.6 | −0.6% |