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NEN logoNew England Realty Associates Limited Partnership(NEN)Earnings, Financials & Key Ratios

NEN•AMEX•REIT / Real Estate
$59.70
$168M mkt cap·34.7× P/E·Price updated May 6, 2026
SectorReal EstateIndustryReal Estate ServicesSub-IndustryReal estate owners and developers
AboutNew 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 located primarily in the metropolitan Boston area of Massachusetts. In addition, it owned a commercial shopping center in Framingham, Massachusetts; one commercial building in Newton and one in Brookline, Massachusetts; commercial space in mixed-use buildings in Boston, Brockton and Newton, and Massachusetts; and 40% to 50% ownership interest in seven residential and mixed use complexes with a total of 688 residential units, one commercial unit, and a 50 car parking lot. NewReal, Inc. serves as the general partner of the company. New England Realty Associates Limited Partnership was incorporated in 1977 and is headquartered in Allston, Massachusetts.Show more
  • Revenue$89M+10.8%
  • FFO$23.27B+71179.4%
  • FFO/Share6654.42+72112.7%
  • FFO Payout0.07%-99.8%
  • FFO per Share6654.42+72112.7%
  • NOI Margin16.37%-75.7%
  • FFO Margin26087.43%+64255.7%
  • ROA1.34%-66.6%
  • Debt/Assets104.41%+1.1%
  • Net Debt/EBITDA-1.12-112.2%
  • Book Value/Share-21.22-20.4%
Technical→

NEN Key Insights

New England Realty Associates Limited Partnership (NEN) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 33.5%
  • ✓Sustainable FFO payout ratio of 0.1%

✗Weaknesses

  • ✗FFO declining 10.3% TTM
  • ✗Low NOI margin of 16.4%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

NEN Price & Volume

New England Realty Associates Limited Partnership (NEN) stock price & volume — 10-year historical chart

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NEN Growth Metrics

New England Realty Associates Limited Partnership (NEN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years6.97%
5 Years7.51%
3 Years9.31%
TTM10.76%

Profit CAGR

10 Years4.8%
5 Years33.46%
3 Years17.44%
TTM-61.49%

EPS CAGR

10 Years5.68%
5 Years34.55%
3 Years18.64%
TTM-61.35%

Return on Capital

10 Years5.75%
5 Years5.19%
3 Years5.53%
Last Year4.89%

NEN Recent Earnings

New England Realty Associates Limited Partnership (NEN) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
Q2 2026Latest
Mar 20, 2026
EPS
$0.40
Revenue
$24M
Q2 2026
Mar 13, 2026
EPS
$11.92
Revenue
$24M
Q4 2025
Nov 7, 2025
EPS
$4.48
Revenue
$24M
Q3 2025
Aug 8, 2025
EPS
$35.59
Revenue
$21M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 20, 2026
$0.40
$24M
Q2 2026Mar 13, 2026
$11.92
$24M
Q4 2025Nov 7, 2025
$4.48
$24M
Q3 2025Aug 8, 2025
$35.59
$21M
Based on last 12 quarters of dataView full earnings history →

NEN Peer Comparison

New England Realty Associates Limited Partnership (NEN) competitors in Real estate owners and developers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
AIV logoAIVApartment Investment and Management CompanyDirect Competitor595.67M4.251.10-100%287.66%162.9%
NHI logoNHINational Health Investors, Inc.Direct Competitor3.54B73.0924.2012.93%36.81%9.77%6.22%0.76
ELME logoELMEElme CommunitiesDirect Competitor191.93M2.16-1.23-100%-18.93%32.43%2.18
NXRT logoNXRTNexPoint Residential Trust, Inc.Direct Competitor748.15M29.48-23.40-3.24%-12.67%-10.13%11.17%5.18
IRT logoIRTIndependence Realty Trust, Inc.Direct Competitor3.89B16.5068.752.76%7.27%1.35%3.77%0.64
EQR logoEQREquity ResidentialProduct Competitor24.82B66.2522.774.06%30.56%8.4%5.2%0.77
AVB logoAVBAvalonBay Communities, Inc.Product Competitor25.77B185.2525.074.29%34.64%8.76%5.49%0.79
ESS logoESSEssex Property Trust, Inc.Product Competitor17.2B266.6925.627.11%30.17%9.99%6.25%1.20

Compare NEN vs Peers

New England Realty Associates Limited Partnership (NEN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs AIV

Most directly comparable listed peer for NEN.

Scale Benchmark

vs CBRE

Larger-name benchmark to compare NEN against a more recognizable public peer.

Peer Set

Compare Top 5

vs AIV, NHI, ELME, NXRT

NEN Income Statement

New England Realty Associates Limited Partnership (NEN) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue52.83M58.01M60.48M62.1M62.64M68.29M74.48M80.53M89.2M
Revenue Growth %6.6%9.82%4.25%2.69%0.86%9.03%9.06%8.12%10.76%
Property Operating Expenses8.38M9.19M19.39M8.78M21.54M23.14M26.27M26.29M74.6M
Net Operating Income (NOI)
44.45M▲ 0%
48.83M▲ 9.8%
41.09M▼ 15.9%
53.32M▲ 29.8%
41.1M▼ 22.9%
45.16M▲ 9.9%
48.21M▲ 6.8%
54.24M▲ 12.5%
14.6M▼ 73.1%
NOI Margin %84.14%84.16%67.94%85.86%65.62%66.12%64.73%67.35%16.37%
Operating Expenses30.3M33.91M23.81M38.35M26.86M27.07M28.43M28.87M-7.15M
G&A Expenses2.64M2.98M3.45M3.07M3.72M3.37M3.91M4.08M0
EBITDA63.94M70.4M31.96M33.38M30.91M34.46M36.56M42.35M23.28B
EBITDA Margin %121.04%121.36%52.84%53.75%49.35%50.46%49.08%52.59%26105.06%
Depreciation & Amortization49.8M55.49M14.68M18.41M16.67M16.37M16.77M16.98M23.26B
D&A / Revenue %94.26%95.64%24.28%29.65%26.61%23.98%22.52%21.09%26080.67%
Operating Income
14.14M▲ 0%
14.92M▲ 5.5%
17.27M▲ 15.8%
14.97M▼ 13.3%
14.24M▼ 4.9%
18.09M▲ 27.0%
19.79M▲ 9.4%
25.37M▲ 28.2%
21.75M▼ 14.3%
Operating Margin %26.78%25.72%28.56%24.1%22.74%26.49%26.56%31.5%24.38%
Interest Expense11.11M12.39M12.2M13.71M13.63M15.05M15.72M15.46M18.59M
Interest Coverage1.27x1.20x1.42x1.09x1.04x1.20x1.26x1.64x1.17x
Non-Operating Income-3.91M-1.64M-1.48M03.31M-680.6K-4.39M-5.75M-2.87M
Pretax Income
6.94M▲ 0%
4.17M▼ 39.9%
6.55M▲ 57.0%
1.42M▼ 78.2%
-2.7M▼ 289.5%
3.72M▲ 237.9%
8.45M▲ 127.1%
15.66M▲ 85.3%
6.03M▼ 61.5%
Pretax Margin %13.13%7.19%10.83%2.29%-4.31%5.45%11.35%19.45%6.76%
Income Tax000000000
Effective Tax Rate %0%0%0%0%0%0%0%0%0%
Net Income
6.94M▲ 0%
4.17M▼ 39.9%
6.55M▲ 57.0%
1.42M▼ 78.2%
-2.7M▼ 289.5%
3.72M▲ 237.9%
8.45M▲ 127.1%
15.66M▲ 85.3%
6.03M▼ 61.5%
Net Margin %13.13%7.19%10.83%2.29%-4.31%5.45%11.35%19.45%6.76%
Net Income Growth %40.14%-39.91%57.04%-78.24%-289.55%237.89%127.06%85.26%-61.49%
Funds From Operations (FFO)
56.73M▲ 0%
59.65M▲ 5.1%
21.23M▼ 64.4%
19.84M▼ 6.6%
13.97M▼ 29.6%
20.1M▲ 43.8%
25.23M▲ 25.5%
32.64M▲ 29.4%
23.27B▲ 71179.4%
FFO Margin %107.4%102.83%35.11%31.94%22.3%29.43%33.87%40.54%26087.43%
FFO Growth %37.55%5.15%-64.41%-6.58%-29.57%43.85%25.53%29.4%71179.35%
FFO per Share15.0515.835.785.433.835.577.039.226654.42
FFO Payout Ratio %14.08%7.51%22.12%23.57%33.45%46.12%39.46%34.45%0.07%
EPS (Diluted)
1.84▲ 0%
1.11▼ 39.7%
-1.94▼ 274.8%
0.39▲ 120.1%
-0.74▼ 289.7%
1.03▲ 239.2%
2.38▲ 131.1%
4.46▲ 87.4%
1.72▼ 61.4%
EPS Growth %40.46%-39.67%-274.77%120.1%-289.74%239.19%131.07%87.39%-61.43%
EPS (Basic)1.841.12-1.940.39-0.741.032.384.461.72
Diluted Shares Outstanding3.77M3.77M3.67M3.65M3.65M3.61M3.59M3.54M3.5M

NEN Balance Sheet

New England Realty Associates Limited Partnership (NEN) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets226.81M247.04M294.29M291.67M356.88M391.82M385.73M393.51M505.33M
Asset Growth %19.02%8.92%19.13%-0.89%22.36%9.79%-1.55%2.02%28.42%
Real Estate & Other Assets-302K-152K-1.38M-51K1.27M0278.07M288.15M476.77B
PP&E (Net)207.15M230.51M0000000
Investment Securities00001000K0001000K
Total Current Assets000097.88M0106.11M105.02M28.1B
Cash & Equivalents7.24M9.06M7.55M18.65M96.08M49.56M18.23M17.62M26.67B
Receivables1000K1000K931.39K1000K1000K1000K1000K1000K1000K
Other Current Assets-8.32M-12.89M-8.48M-20.59M0-140.49M000
Intangible Assets000026K01.55M334K2.69M
Total Liabilities262.12M282.66M332.12M333.14M406.17M451.69M451.09M455.94M579.55M
Total Debt250.22M254.37M299.77M300.44M370.48M410.97M408.66M406.21M527.6M
Net Debt242.98M245.31M292.22M281.8M274.4M361.41M390.43M388.59M-26.14B
Long-Term Debt242.38M252.45M295.1M297.91M370.48M408.26M405.81M402.63M520.98M
Short-Term Borrowings7.84M1.92M4.67M2.53M02.71M2.85M3.58M6.62M
Capital Lease Obligations000000000
Total Current Liabilities00013.89M2.71M02.85M3.58M6.62M
Accounts Payable00004.32M05.72M9M8.87M
Deferred Revenue000000000
Other Liabilities-242.38M-252.45M-295.1M-297.91M35.69M-408.26M42.42M49.74M51.95M
Total Equity
-35.32M▲ 0%
-35.62M▼ 0.9%
-37.82M▼ 6.2%
-41.47M▼ 9.6%
-49.29M▼ 18.9%
-59.87M▼ 21.5%
-65.35M▼ 9.2%
-62.43M▲ 4.5%
-74.22M▼ 18.9%
Equity Growth %-3.19%-0.87%-6.17%-9.64%-18.87%-21.46%-9.16%4.47%-18.87%
Shareholders Equity-34.96M-35.27M-37.45M-41.06M-48.8M-59.27M-64.7M-61.81M-73.47M
Minority Interest-351.75K-354.83K-376.83K-413.28K-491.51K-600.19K-654.38K-626.88K-742.74K
Common Stock-34.96M-35.27M-37.45M-41.06M-48.8M-59.56M-64.94M-62.22M-73.68M
Additional Paid-in Capital000000000
Retained Earnings000000000
Preferred Stock000000000
Return on Assets (ROA)3.32%1.76%2.42%0.49%-0.83%0.99%2.17%4.02%1.34%
Return on Equity (ROE)---------
Debt / Assets110.32%102.97%101.86%103.01%103.81%104.89%105.94%103.23%104.41%
Debt / Equity---------
Net Debt / EBITDA3.80x3.48x9.14x8.44x8.88x10.49x10.68x9.17x-1.12x
Book Value per Share-9.37-9.45-10.30-11.35-13.50-16.61-18.20-17.62-21.22

NEN Cash Flow Statement

New England Realty Associates Limited Partnership (NEN) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations16.14M25.63M22.45M17.45M15.78M21.54M28.36M36.5M27.66B
Operating CF Growth %5.19%58.83%-12.42%-22.26%-9.56%36.47%31.64%28.72%75670.05%
Operating CF / Revenue %30.55%44.18%37.12%28.1%25.2%31.54%38.07%45.32%31005.66%
Net Income6.94M4.17M6.55M1.42M-2.7M3.72M8.45M15.66M6.03B
Depreciation & Amortization13.46M15.57M14.68M18.41M16.67M16.37M16.77M16.98M23.26B
Stock-Based Compensation000000000
Other Non-Cash Items-3.71M6.09M-655.24K1.56M1.77M77.15K4.08M3.87M-1.64B
Working Capital Changes-549.33K-199.96K1.87M-3.94M45.78K1.37M-948.63K-14.65K-1.13M
Cash from Investing-45.53M-2.44M-29.28M-1.72M-2.33M-93.07M-42.55M-21.57M-54.32B
Acquisitions (Net)4.72M-1.12M-43.42K-11.73K-81.11K5.98M000
Purchase of Investments-47.74M-14.33M00-81.11K-177.85M-223.77M-191.14M0
Sale of Investments1000K0001000K1000K1000K1000K0
Other Investing542.24K-1.32M-29.23M-1.7M-2.25M-4.74M0-12.46M-54.32B
Cash from Financing29.16M-21.37M5.32M-4.64M63.99M25.01M-16.57M-15.75M35.71B
Dividends Paid-7.99M-4.48M-4.7M-4.68M-4.67M-9.27M-9.95M-11.24M-16.79M
Common Dividends-7.99M-4.48M-4.7M-4.68M-4.67M-9.27M000
Debt Issuance (Net)1000K-1000K1000K569.86K1000K1000K-1000K-1000K1000K
Share Repurchases-42.55K0-4.05M-394.03K-450.26K-5.33M-3.93M-1.67M-821.19K
Other Financing-304.53K-148K-446.46K-136.33K-179.25K0-3K035.68B
Net Change in Cash
-224.79K▲ 0%
1.82M▲ 910.1%
-1.51M▼ 183.1%
11.1M▲ 833.4%
77.44M▲ 597.6%
-46.52M▼ 160.1%
-31.33M▲ 32.7%
-614.52K▲ 98.0%
9.05B▲ 1473281.3%
Exchange Rate Effect000000-571.12K206.53K0
Cash at Beginning7.46M7.24M9.06M7.55M18.65M96.08M49.56M18.23M17.62B
Cash at End7.24M9.06M7.55M18.65M96.08M49.56M18.23M17.62M26.67B
Free Cash Flow
-34.65M▲ 0%
21.51M▲ 162.1%
22.45M▲ 4.3%
17.45M▼ 22.3%
12.47M▼ 28.6%
15.56M▲ 24.8%
28.36M▲ 82.2%
36.5M▲ 28.7%
27.66B▲ 75670.1%
FCF Growth %-440.37%162.1%4.35%-22.26%-28.57%24.81%82.25%28.72%75670.06%
FCF / Revenue %-65.58%37.08%37.12%28.1%19.9%22.78%38.07%45.32%31005.66%

NEN Key Ratios

New England Realty Associates Limited Partnership (NEN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
FFO per Share10.8915.0515.835.785.433.835.577.039.226.65K
FFO Payout Ratio16.32%14.08%7.51%22.12%23.57%33.45%46.12%39.46%34.45%0.07%
NOI Margin83.34%84.14%84.16%67.94%85.86%65.62%66.12%64.73%67.35%16.37%
Net Debt / EBITDA4.14x3.80x3.48x9.14x8.44x8.88x10.49x10.68x9.17x-1.12x
Debt / Assets111.62%110.32%102.97%101.86%103.01%103.81%104.89%105.94%103.23%104.41%
Interest Coverage1.30x1.27x1.20x1.42x1.09x1.04x1.20x1.26x1.64x1.17x
Book Value / Share-9.04-9.37-9.45-10.3-11.35-13.5-16.61-18.2-17.62-21.22
Revenue Growth8.96%6.6%9.82%4.25%2.69%0.86%9.03%9.06%8.12%10.76%

NEN SEC Filings & Documents

New England Realty Associates Limited Partnership (NEN) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jun 25, 2025·SEC

Material company update

Jun 10, 2025·SEC

Material company update

Apr 17, 2025·SEC

10-K Annual Reports

6
FY 2026

Mar 13, 2026·SEC

FY 2025

Mar 14, 2025·SEC

FY 2024

Mar 14, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 8, 2025·SEC

FY 2025

May 9, 2025·SEC

NEN Frequently Asked Questions

New England Realty Associates Limited Partnership (NEN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

New England Realty Associates Limited Partnership (NEN) reported $89.2M in revenue for fiscal year 2025. This represents a 436% increase from $16.6M in 1996.

New England Realty Associates Limited Partnership (NEN) grew revenue by 10.8% over the past year. This is steady growth.

Yes, New England Realty Associates Limited Partnership (NEN) is profitable, generating $6.0M in net income for fiscal year 2025 (6.8% net margin).

Dividend & Returns

Yes, New England Realty Associates Limited Partnership (NEN) pays a dividend with a yield of 8.04%. This makes it attractive for income-focused investors.

Industry Metrics

New England Realty Associates Limited Partnership (NEN) generated Funds From Operations (FFO) of $29.3M in the trailing twelve months. FFO is the primary profitability metric for REITs.

New England Realty Associates Limited Partnership (NEN) offers a 8.04% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

Explore More NEN

New England Realty Associates Limited Partnership (NEN) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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