NEN
New England Realty Associates Limited PartnershipReal Estate·Real Estate - Services
$60.90
$213M market cap
Revenue
$47.7M
Free Cash Flow
$2.3B
Rev Growth
+0.0%
FCF Margin
4781.0%
P/FCF
0.1x
EV/FCF
-10.9x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
New England Realty Associates Limited Partnership engages in acquiring, developing, holding for investment, operating, and selling real estate properties in the United States. It owns and operates various residential apartments, condominium units, and commercial properties located in Massachusetts and New Hampshire. As of February 1, 2022, the company owned 2,892 residential apartment units in 25 residential and mixed-use complexes, and 19 condominium units in a residential condominium complex l
2-Year Price History
$60.00-9.2%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 24.2 | 9.8 | 1.5 | -3.9 | 2,307 | 2,291 | -0.0 | 25,560 | 526.9 | 3.5 | 1.1% | 1.7x | -- |
| Act | 2025-Q4 | 23.6 | 11.3 | 3.7 | -1.4 | 6.5 | -8.5 | -0.0 | 26,669 | 527.6 | 3.5 | 2.8% | 2.2x | -- |
Valuation & Metrics
Market Stats
Price$60.90
Market Cap$213M
Enterprise Value$-24.8B
P/S Ratio4.5x
P/FCF0.1x
EV/FCF-10.9x
FCF Margin (TTM)4781.0%
FCF Yield1072.8%
Dividend Yield (TTM)2.6%
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$47.7M
Net Income$-5.3M
Free Cash Flow$2.3B
Revenue Growth (YoY)+0.0%
EBITDA Margin44.2%
Net Margin-11.1%
FCF Margin4781.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC2.0%
WC Change % Rev-469.8%
Interest Coverage1.9x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares0.0M
Days to Cover1.0
Change (vs Prior)-60.9%
Need at least 2 settlement dates for chart
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
2.4%(-0.9% YoY)
11 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
0.0%(+0.0% YoY)
0 filers
Vanguard, iShares, SPDR
Market makers
0.5%(+0.4% YoY)
1 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| CALDWELL SUTTER CAPITAL, INC. | $1.7M | $61.70 | +$0 | −$85K | -1.4% | $246M |
| Warberg Asset Management LLC | $1.1M | $64.53 | +$41K | +$488K | -18.2% | $88.2M |
| SUSQUEHANNA INTERNATIONAL GROUP, LLPMM | $1.1M | $63.79 | +$159K | +$891K | -0.6% | $77.14B |
| LPL Financial LLC | $604K | $68.28 | +$0 | +$0 | -0.2% | $372.65B |
| EPACRIA CAPITAL PARTNERS, LLC | $527K | $61.45 | +$0 | +$0 | +0.9% | $129M |
| UBS Group AG | $258K | $67.62 | +$117K | +$217K | -0.3% | $562.11B |
| HPM Partners LLC | $240K | $65.70 | +$0 | −$103K | -0.1% | $70.24B |
| Napier Financial, LLC | $188K | $61.05 | +$191K | +$188K | -1.7% | $436M |
| MORGAN STANLEY | $173K | $72.91 | +$0 | +$0 | -0.3% | $1.65T |
| ROYAL BANK OF CANADA | $86K | $61.05 | +$86K | +$86K | -0.2% | $526.36B |
| WELLS FARGO & COMPANY/MN | $81K | $70.68 | +$0 | +$0 | -0.2% | $497.71B |
| JPMORGAN CHASE & CO | $27K | $65.70 | +$0 | +$0 | -0.2% | $1.47T |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BEARISH
Holders
-4.34%
avg per quarter
Holders (ex-self)
-4.44%
excl. this stock
Buyers (this Q)
-0.97%
4 buyers · $0.00B in
Sellers (this Q)
+0.00%
0 sellers · $0.00B out
alpha coverage: 100% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+14.2%
how holders react when this stock falls
On quiet Qs
-0.3%
−10% to +10% baseline
On rallies (+10%+)
-5.1%
how they react when this stock rises
Holders' portfolio flow this Q
+21.5%
inflows — adds are organic
Sellers' portfolio flow this Q
+0.0%
Sellers' overall flow ~ flat.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
+0.4%
Holder mid (any stock)
-0.4%
Holder rally (any stock)
-1.1%
Biggest decreases this quarter
New buyers this quarter
Top-5 holders · 82.7%
CALDWELL SUTTER CAPITAL, INC.--
Warberg Asset Management LLC--
SUSQUEHANNA INTERNATIONAL GROUP, LLP--
LPL Financial LLC--
EPACRIA CAPITAL PARTNERS, LLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
GOLDMAN SACHS GROUP INC—CALDWELL SUTTER CAPITAL, INC.29KWarberg Asset Management LLC18KLPL Financial LLC10KEPACRIA CAPITAL PARTNERS, LLC9KCOMMONWEALTH EQUITY SERVICES, LLC—HPM Partners LLC4KMORGAN STANLEY3KBANK OF AMERICA CORP /DE/—UBS Group AG4K
Corporate
Order Flow (FINRA, ~3w lag)
32.3%retail+24.1pp
0.0%dark-3.5pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
New England Realty Associates: Aggressive Leverage, Insider Entrenchment, and Covenant Violations
Overall Risk
8/10
Fraud
3/10
Dilution
1/10
Insolvency
9/10
Earnings Overstated
4/10
Hidden Liabilities
6/10
Legal
3/10
Audit Warnings
8/10
Hidden Upside
7/10
Contextually Acceptable
4/10