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Sterling Real Estate Trust cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$23.5M in Q3 2026 · $68.2M over twelve months

Operating cash flow$23.5M
Free cash flow+$23.5M
Cash / net income2.7×

Analysis

In Q3 2026, Sterling Real Estate Trust generated $23.5M of operating cash flow. That is $6.3M more than in Q3 2025 ($17.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was $68.2M; the largest uses were other investing ($78.9M), dividends ($31.3M), buybacks ($5.7M); besides operations, cash came from net borrowing (+) / repaid (−) ($38.8M), other financing ($7.9M); the cash balance rose by $2.5M.

Operating cash flow was $23.5M against net income of $8.6M — 2.7× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$7.1M, accrued liabilities +$6.6M, prepaid and other assets +$2.3M.

Free cash flow

Sterling Real Estate Trust: free cash flow by quarterSterling Real Estate Trust: free cash flow by quarter$12.5MQ4 2024$3.3MQ1 2025$17.3MQ2 2025$17.2MQ3 2025$17.0MQ4 2025$12.8MQ1 2026$14.9MQ2 2026$23.5MQ3 2026
Operating cash flow less capital spending.
Sterling Real Estate Trust: operating cash flow against capital spendingSterling Real Estate Trust: operating cash flow against capital spendingOperating cash flowCapital spending$12.5M$0Q4 2024$3.3M$0Q1 2025$17.3M$0Q2 2025$17.2M$0Q3 2025$17.0M$0Q4 2025$12.8M$0Q1 2026$14.9M$0Q2 2026$23.5M$0Q3 2026
Latest (Q3 2026): Operating cash flow $23.5M, Capital spending $0.

Capital allocation, year by year

Sterling Real Estate Trust: where the cash came from (up) and went (down), by fiscal yearSterling Real Estate Trust: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedBuybacksDividendsFY2021: Operating cash flow $45.1MFY2021: Net borrowing $72.5MFY2021: Buybacks −$5.6MFY2021: Dividends −$22.6M$118MFY2021FY2022: Operating cash flow $40.8MFY2022: Net borrowing $42.8MFY2022: Buybacks −$2.1MFY2022: Dividends −$25.3M$83.6MFY2022FY2023: Operating cash flow $48.5MFY2023: Net borrowing −$40.4MFY2023: Buybacks −$5.0MFY2023: Dividends −$26.4M$48.5MFY2023FY2024: Operating cash flow $46.6MFY2024: Net borrowing −$24.9MFY2024: Shares issued $31.2MFY2024: Buybacks −$11.9MFY2024: Dividends −$27.1M$77.7MFY2024FY2025: Operating cash flow $54.8MFY2025: Net borrowing −$28.5MFY2025: Shares issued $312KFY2025: Buybacks −$9.7MFY2025: Dividends −$29.1M$55.1MFY2025
Over these 5 years operating cash flow totalled $236M; the largest uses were dividends ($130M) and net borrowing ($93.7M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$4.6M
Debt$605M
Net debt$601M
Due within a year$83.8M

Sterling Real Estate Trust funds itself: free cash flow was $68.2M over the last twelve months, and $4.6M of cash and investments stands against $605M of debt ($83.8M due within a year, 0.1× covered by cash).

Sterling Real Estate Trust: debt maturities by year (FY2025)Sterling Real Estate Trust: debt maturities by year (FY2025)$83.8MYear 1$79.6MYear 2$47.5MYear 3$91.8MYear 4$82.1MYear 5$181MAfter year 5
Principal due in each year as disclosed in the annual report, against $4.6M of cash and investments now.

Where the cash came from and went

Sterling Real Estate Trust: sources (+) and uses (−) of cash, Q3 2026Sterling Real Estate Trust: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$23.5MOther investing−$15.6MNet borrowing (+) / repaid (−)$8.5MDividends−$8.0MCash drawn (+) / kept (−)−$7.9MBuybacks−$684KOther financing$224K
Sterling Real Estate Trust: sources (+) and uses (−) of cash, TTM to Q3 2026Sterling Real Estate Trust: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$78.9MOperating cash flow$68.2MNet borrowing (+) / repaid (−)$38.8MDividends−$31.3MOther financing$7.9MBuybacks−$5.7MPartners$3.5MCash drawn (+) / kept (−)−$2.5M

From profit to cash

Sterling Real Estate Trust: net income to operating cash flow, Q3 2026Sterling Real Estate Trust: net income to operating cash flow, Q3 2026Net income$8.6MDepreciation & amortization$7.1MAccrued liabilities$6.6MPrepaid and other assets$2.3MOperating cash flow$23.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$23.5M−$684K−$8.0M$8.5M—−$7.9M$23.5M
Q2 2026$14.9M−$1.1M−$8.3M$2.5M—$3.8M$14.9M
Q1 2026$12.8M−$1.9M−$7.5M−$9.0M—$1.9M$12.8M
Q4 2025$17.0M−$2.0M−$7.5M$61.1M—−$255K$17.0M
Q3 2025$17.2M−$1.9M−$7.3M−$41.0M—−$1.0M$17.2M
Q2 2025$17.3M−$3.2M−$7.3M——−$890K$17.3M
Q1 2025$3.3M−$2.6M−$7.0M$10.0M—−$473K$3.3M
Q4 2024$12.5M−$2.1M−$6.9M−$52.0M$24.2M$6.0M$12.5M

Sterling Real Estate Trust: income statement and cash flow

Sterling Real Estate Trust, Q3 2026: revenue $46.4M (+6% year over year), operating margin 16.4%. The chart follows the revenue to costs, profit and cash.

Sterling Real Estate Trust: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.