Sterling Real Estate Trust earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026
Q3 2026 Revenue up 6% year over year to $46.4M · 8¢ of every $1 of revenue kept as net profit · operating margin 16.4%
Sterling Real Estate Trust made $46.4M in Q3 2026 (+6% Y/Y): Residential $41.7M, Commercial $4.7M. Operating margin 16.4%, net earnings $3.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Revenue$46.4M
Year over year+6%
Operating margin16.4%
Net earnings$3.6M
Operating cash flow$23.5M
Drawing the Sankey…
Open the interactive Sankey →click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $46.4M in Q3 2026, up 6% year over year and up 1% from the previous quarter. Residential was the largest line at 90% of revenue. Residential added $2.9M year over year (up 7%), 109% of the total change. Commercial declined 5%.
Operating profit was $7.6M, a 16.4% margin (up 8.9 points year over year). Of the extra revenue versus a year earlier, 164% reached operating profit, above the 7% margin then. Total costs fell 4% while revenue rose 6%. Net earnings were $3.6M, up 221% year over year. The effective tax rate was 0.0%.
Operating cash flow was $23.5M (up 37% year over year), 274% of net income including minority interests. Non-cash charges added back $7.1M of depreciation and amortization. Working capital and other items added $7.8M. Capital expenditures of $15.4M left free cash flow of $8.1M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Nov 4, 2026
$46.4M
+6%
16.4%
$3.6M
$23.5M
Q2 2026
10-Q
Aug 5, 2026
$46.1M
+7%
14.1%
$2.6M
$14.9M
Charts
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q3 2026): Net income $8.6M, Operating cash flow $23.5M.+34.2% since FY2020: more shares outstanding (issuance, stock pay).Cash $7.8M, short-term investments —, long-term debt — at 2025-12-31.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
Sterling Real Estate Trust d/b/a Sterling Multifamily Trust (“Sterling”, “the Trust” or “the Company”) is a registered, but unincorporated business trust organized in North Dakota in December 2002. Sterling has elected to be taxed as a Real Estate Investment Trust (“REIT”) under Sections 856-860 of the Internal Revenue Code.
In its own words, from its 10-Q, filed Aug 5, 2026.
Sterling Real Estate Trust against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +11%. Operating margin: 16.4% against the peers' median 16.4%.