BRT Apartments Corp. (BRT) | Investment Case

1. Company Snapshot

1.a. Company Description

BRT is a real estate investment trust that owns, operates and develops multi-family properties.

Show Full description

1.b. Last Insights on BRT

Recent negative drivers behind BRT Apartments Corp.'s performance include concerns over stagnant profit growth, despite positive cash flow and a diversified property portfolio across the US Sunbelt. According to a recent analysis, BRT Apartments has a "hold" rating, citing the company's inability to turn a profit lately, despite generating positive cash flow that sustains its dividend. Additionally, the multifamily REIT sector, which BRT operates in, faces challenges from suppressed rent growth and occupancy, although strong job markets and reduced new supply suggest potential for landlords to regain pricing power.

1.c. Company Highlights

Last Price	14.23
Change Percentage	0.85%
Open	14.22
Previous Close	14.11
Market Cap ( Millions)	270
Volume	29310
Year High	16.69
Year Low	13.18
M A 50	14.3
M A 200	14.93

FCF Yield	5.18%
Dividend Yield	7.03%
ROE	-6.33%
Debt / Equity	286.76%
Net Debt / EBIDTA	1262.55%
Price To Book	1.45
Price Earnings Ratio	-21.45
Price To FCF	19.29
Price To sales	2.78
EV / EBITDA	19.68

2. Transcript Summary

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3. NewsRoom

Mousetraps: 9 High-Yield REITs With Risky Dividends

Apr -08

Source: seekingalpha.com

Critical Review: Centerspace (NYSE:CSR) & BRT Apartments (NYSE:BRT)

Mar -19

Source: defenseworld.net

A Crude Awakening

Mar -15

Source: seekingalpha.com

BRT Apartments Corp. Files Fourth Quarter and Year End 2025 Financial Statements

Mar -13

Source: globenewswire.com

BRT Apartments Corp. Declares First Quarter 2026 Dividend and Announces Increase to Current Stock Repurchase Program

Mar -11

Source: globenewswire.com

BRT Apartments (NYSE:BRT) Stock Crosses Above 200 Day Moving Average – Here’s Why

Feb -19

Source: defenseworld.net

George Zweier Sells 6,801 Shares of BRT Apartments (NYSE:BRT) Stock

Jan -02

Source: defenseworld.net

The Ghost Of Inflation Past

Dec -21

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (2.00%)

6. Segments

Rental and Other Real Estate Properties

Expected Growth: 2.0%

BRT Apartments Corp.'s 2.0% growth in Rental and Other Real Estate Properties is driven by increasing demand for affordable housing, strategic property acquisitions, and effective cost management. Additionally, the company's focus on renovating and repositioning its portfolio has led to higher rental income and occupancy rates, contributing to its growth momentum.

Other

Expected Growth: 2.0%

BRT Apartments Corp.'s 2.0% growth is driven by increasing demand for affordable housing, strategic acquisitions, and effective cost management. The company's focus on value-add opportunities and renovation initiatives also contribute to its growth. Additionally, BRT's diversified portfolio across the Southeast and Northeast regions helps to mitigate risks and drive steady growth.

7. Detailed Products

Multifamily Properties

BRT Apartments Corp. owns and operates a diverse portfolio of multifamily properties, offering a range of apartments and amenities to residents.

Garden-Style Apartments

BRT's garden-style apartments offer a more suburban living experience, often with amenities like swimming pools and fitness centers.

Mid-Rise Apartments

BRT's mid-rise apartments provide a balance between urban convenience and suburban comfort, often with amenities like rooftop decks and fitness centers.

High-Rise Apartments

BRT's high-rise apartments offer luxurious living with premium amenities, often in prime urban locations.

Student Housing

BRT's student housing properties cater to college students, offering convenient locations and amenities tailored to their needs.

Senior Living Communities

BRT's senior living communities provide supportive living environments for seniors, with amenities like meal services and social activities.

8. BRT Apartments Corp.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for BRT Apartments Corp. is medium due to the availability of alternative housing options in the market.

Bargaining Power Of Customers

The bargaining power of customers is low due to the lack of negotiating power of individual renters.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium due to the presence of multiple suppliers of materials and services.

Threat Of New Entrants

The threat of new entrants is high due to the relatively low barriers to entry in the apartment rental market.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of multiple competitors in the apartment rental market.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	66.80%
Debt Cost	4.89%
Equity Weight	33.20%
Equity Cost	9.58%
WACC	6.45%
Leverage	201.16%

11. Quality Control: BRT Apartments Corp. passed 4 out of 9 key points

Strong Liquidity

Low Deb

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Clipper Realty

A-Score: 6.4/10

Value: 9.8

Growth: 6.2

Quality: 5.8

Yield: 10.0

Momentum: 2.5

Volatility: 4.0

1-Year Total Return ->

NexPoint Residential Trust

A-Score: 6.0/10

Value: 6.6

Growth: 5.1

Quality: 5.2

Yield: 9.0

Momentum: 2.0

Volatility: 8.0

1-Year Total Return ->

Centerspace

A-Score: 5.8/10

Value: 6.0

Growth: 3.2

Quality: 4.5

Yield: 8.0

Momentum: 5.0

Volatility: 8.3

1-Year Total Return ->

BRT Apartments

A-Score: 5.8/10

Value: 6.1

Growth: 5.3

Quality: 3.8

Yield: 9.0

Momentum: 2.0

Volatility: 8.7

1-Year Total Return ->

UMH Properties

A-Score: 5.5/10

Value: 3.9

Growth: 2.9

Quality: 4.6

Yield: 9.0

Momentum: 3.0

Volatility: 9.7

1-Year Total Return ->

Bluerock Homes Trust

A-Score: 5.2/10

Value: 7.5

Growth: 5.6

Quality: 3.2

Yield: 9.0

Momentum: 1.0

Volatility: 5.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

9.62%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

6.45%

BRT Apartments Corp. - US0556453035

1. Company Snapshot

1.a. Company Description

BRT is a real estate investment trust that owns, operates and develops multi-family properties.

1.b. Last Insights on BRT

1.c. Company Highlights

Higher Growth

Average Yield

Fairly Valued

Earnings Miss

Revenues Miss

Average Quality

Revenues Beats

Lower Quality

Earnings Beats

Average Growth

Stable Momentum

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (2.00%)

6. Segments

Rental and Other Real Estate Properties

Expected Growth: 2.0%

Other

Expected Growth: 2.0%

7. Detailed Products

Multifamily Properties

Garden-Style Apartments

Mid-Rise Apartments

High-Rise Apartments

Student Housing

Senior Living Communities

8. BRT Apartments Corp.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: BRT Apartments Corp. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

14.23$

Current Price

14.23$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA