Belpointe PREP, LLC

AMEX•OZ

CEO: Mr. Brandon Eric Lacoff Esq.

Sector: Real Estate

Industry: Real Estate - Development

Listing Date: 2021-10-18

Belpointe PREP, LLC focuses on identifying, acquiring, developing or redeveloping, and managing commercial real estate properties in the United States. It also intends to invest in and manage a real estate-related assets, including commercial real estate loans and mortgages; and debt and equity securities issued by other real estate-related companies, as well as private equity acquisitions and investments and opportunistic acquisitions of other qualified opportunity funds and qualified opportunity zone businesses. The company was incorporated in 2020 and is based in Greenwich, Connecticut.

Contact Information

255 Glenville Road, Greenwich, CT, 06831, United States

203-883-1944

belpointeoz.com

Market Cap

$200.10M

P/E (TTM)

-5.3

Dividend Yield

52W High

$75.73

52W Low

$48.50

52W Range

16%

Rank41Top 44.9%

4.0

F-Score

Modified Piotroski Analysis

Based on 5-year fundamentals

Average • 4 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2021-2025

Financial Dashboard

Q3 2025 Data

Revenue

$2.38M+176.98%

4-Quarter Trend

EPS

-$3.28+72.63%

4-Quarter Trend

FCF

-$5.97M+79.32%

4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Months Revenue Surge Nine months revenue reached $6.12M, sharply up from $1.58M last year, reflecting Aster & Links stabilization progress.

Debt Restructuring Completed Completed Aster & Links Refinance, drawing $172.83M; extinguished old debt incurring $3.0M loss on extinguishment.

Balance Sheet Expansion Total assets grew to $570.78M by September 30, 2025, supported by net debt increasing to $251.44M.

Class A Unit Issuance Issued 127,004 Class A units during nine months, raising aggregate gross proceeds of $8.40M.

Risk Factors

Net Loss Widened Substantially Net loss attributable to members widened to $(28.38M) for nine months, compared to $(15.63M) prior period.

Increased Operating Cash Usage Operating cash usage increased to $(15.00M) for nine months, reflecting higher interest expense burden.

Economic Uncertainty Risks Future performance faces material uncertainty from inflation, interest rates, and regulatory changes impacting results.

Ongoing Litigation Exposure Ongoing Galinn litigation concerning 497-501 Middle property; management disputes liability claims vigorously.

Outlook

Evaluate QOZ Tax Legislation Evaluating OBBBA impact on future investment strategy; consulting tax advisors regarding qualified opportunity zone changes.

Management Agreement Renewal Management Agreement renewed for three additional years, ensuring continuity in external management structure.

Sufficient Liquidity Expected Anticipated cash, offering proceeds, and financing expected to meet liquidity needs for the next 12 months.

Remaining Development Funding Anticipating minimum $39.2M remaining funding required for Aster & Links and VIV development projects.

Peer Comparison

Revenue (TTM)

DOUG

$1.03B

+6.7%

MRNO

$53.52M

+123.9%

ARL

$49.04M

-0.6%

Gross Margin (Latest Quarter)

DOUG

93.3%

+68.1pp

ARL

41.2%

+1.4pp

MRNO

38.2%

-27.8pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
ARL	$262.15M	45.5	1.0%	20.7%
DOUG	$205.17M	-3.3	-41.4%	29.7%
OZ	$200.10M	-5.3	-12.6%	44.7%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

29.6%

Strong Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

Cash Flow Needs Attention

Deep Research

Next earnings:Mar 30, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data