BRT Apartments Corp BRT

Real EstateResidential & Commercial REITsUnited States of America

Last close 12.98 USD on Nov 1, 2026, −6.8% year to date

Quant rating

Quant rating D Rank 123 of 175 in Real Estate

Growth B 46 of 175
Valuation B 68 of 175
Quality D 142 of 175
Revisions B 55 of 175
Momentum D 144 of 175

Wall Street consensus Buy (2.33)Average target 18.00 USD +38.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 244M
Enterprise value: 728M
52-week range: 12.82 – 15.63
3-year range: 12.82 – 20.06
Dividend yield: 7.70%
Beta (5 years): 0.89
Shares outstanding: 18.8M
Next earnings: Nov 4, 2026

About the company

BRT Apartments Corp. is a real estate investment trust that owns, operates, and to a lesser extent, holds interest in joint ventures that own and operate multifamily properties. The Company owns or has interests in over 31 multifamily properties with 8,311units in 11 states and has preferred equity investments in two multi-family properties. Generally, its multifamily properties are garden apartments and, to a lesser extent, mid-rise or town home style properties that provide residents with amenities, such as a clubhouse, swimming pool, laundry facilities and Internet access. In addition to its multifamily properties and preferred loan investments, the Company owns assets, and in particular, real estate assets. Its properties include Silvana Oaks Apartments, Avondale Station, Brixworth at Bridge Street, Newbridge Commons, Crossings of Bellevue, Avalon Apartments, Parkway Grande, Woodland Trails, Grove at River Place, Kilburn Crossing, The Woodland Apartments, and others.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	97.0	95.6	93.6	70.5	32.1	–
Revenue growth	1.5%	2.2%	32.7%	120.0%	14.1%	28.1%
EPS (basic, normalized)	−0.63	−0.52	0.16	2.66	1.62	–
EPS growth	–	–	−94.0%	64.2%	–	–
Gross margin	54.6%	54.5%	55.3%	56.7%	55.7%	55.3%
Net margin	−11.7%	−9.7%	4.1%	70.8%	90.8%	28.9%
ROE	−6.3%	−4.5%	1.6%	22.1%	15.3%	5.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	22.7
Current ratio	–
Long-term debt (mil)	507
Net debt (mil)	484
Total equity (mil)	160
Net debt / equity	3.01x
Net debt / EBITDA	43.92x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	97.0	+1.5%	7.5x	11.0	−72.2%	66.1x	−0.63	−21.2%	−20.6x
2026	97.9	+0.9%	7.4x	44.9	+307.6%	16.2x	−0.74	−18.3%	−17.4x
2027	106	+8.0%	6.9x	49.0	+9.1%	14.9x	−0.73	+1.3%	−17.7x
2028	108	+2.3%	6.7x	58.4	+19.3%	12.5x	−0.74	−0.7%	−17.5x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	97.9	0.0%	−1.2%	−1.6%	−0.74	0.0%	+3.2%	+6.9%
2027	106	0.0%	−0.7%	+0.8%	−0.73	0.0%	+3.9%	−13.1%
2028	108	0.0%	–	–	−0.74	0.0%	–	–

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	23.4	23.9	24.4	24.0	24.1	24.2	24.4	24.3	24.6	24.5
Sales mean (mil)	23.7	23.6	23.8	24.6	23.9	24.0	24.0	24.2	24.3	24.6
Surprise	−1.4%	+1.1%	+2.5%	−2.8%	+1.1%	+1.0%	+2.0%	+0.5%	+1.3%	−0.5%
EPS reported	−0.17	−0.13	−0.12	−0.11	−0.12	−0.14	−0.14	−0.23	−0.14	−0.19
EPS mean	−0.14	−0.16	−0.16	−0.12	−0.17	−0.16	−0.15	−0.15	−0.20	−0.20
Surprise	−21.4%	+18.8%	+25.0%	+8.3%	+27.3%	+12.5%	+6.7%	−48.4%	+30.0%	+2.6%

Peer comparison Residential & Commercial REITs

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
BRT BRT Apartments Corp	244M	43.92x	−11.7%	1.46x	−17.4x	−17.7x	16.2x	14.9x
VMRK Vivmark Residential	47.9B	4.55x	36.2%	2.21x	47.2x	38.9x	21.5x	14.6x
ESS Essex Property Trust, Inc.	17.0B	4.95x	35.5%	3.21x	46.6x	42.1x	18.6x	17.7x
INVH Invitation Homes Inc.	15.3B	5.62x	21.5%	1.75x	26.2x	35.5x	15.4x	15.2x
SUI Sun Communities Inc	13.5B	2.94x	−3.0%	2.51x	132.0x	37.0x	15.5x	16.7x
MAA Mid-America Apartment Communities Inc	13.6B	4.80x	20.1%	2.56x	31.3x	37.5x	15.6x	15.4x
Mean		11.13x	16.4%	2.28x	44.3x	28.9x	17.1x	15.7x
Median		4.87x	20.8%	2.36x	38.9x	37.2x	15.9x	15.3x

Technical analysis

1M−4.4%
3M−12.4%
1Y−5.8%
3Y−4.0%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, BRT Apartments Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	97.0	95.6	93.6	70.5	32.1	28.1
Cost of revenue	44.1	43.6	41.8	30.6	14.2	12.4
Gross profit	52.9	52.1	51.8	40.0	17.9	15.7
Selling, general & administrative expenses	15.5	15.6	15.4	14.7	12.6	11.7
Research & development	–	–	–	–	–	–
Depreciation/amortization	26.4	25.9	28.5	24.8	8.0	6.7
Interest expense (income), operating	23.5	22.6	22.2	15.5	6.8	7.1
Unusual expense (income)	−0.3	0	−0.7	0.5	2.1	3.6
Other operating expenses	0	0.3	0	0	0	0
Operating income	−12.2	−12.3	−13.6	−15.5	−11.6	−13.5
Net interest income (expense)	−0.2	1.6	17.0	66.4	33.4	−6.0
Gain (loss) on sale of assets	0.8	0.8	0.6	0	7.7	0
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	−11.6	−9.9	4.1	50.9	29.5	−19.5
Provision for taxes	0.2	−0.2	0.1	0.8	0.2	0.2
Minority interest	−0.2	−0.2	−0.1	−0.1	−0.1	−0.1
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−11.9	−9.8	3.9	50.0	29.1	−19.9
Extraordinary items	–	–	–	–	–	–
Net income	−11.9	−9.8	3.9	50.0	29.1	−19.9
EBIT, normalized	11.0	10.3	7.9	0.5	−2.8	−2.7
EBITDA, normalized	37.4	36.2	36.4	25.3	5.2	4.0
Basic EPS, normalized	−0.63	−0.52	0.16	2.66	1.62	–

Balance sheet in millions of USD, fiscal years

Balance sheet, BRT Apartments Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	25.1	27.9	23.5	20.3	32.3	19.9
Receivables	–	–	–	–	–	–
Total inventory	–	–	–	–	4.4	–
Prepaid expenses	–	–	–	–	–	–
Other current assets	–	–	–	–	–	–
Total current assets	–	–	–	–	–	–
Property, plant & equipment	599	618	638	654	296	163
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	46.1	31.3	34.2	42.6	112	169
Note receivable	17.7	17.7	–	–	–	0
Other long-term assets	47.3	46.5	37.7	36.1	51.1	33.4
Total assets	710	713	710	733	460	366
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	22.3	22.7	19.6	20.2	17.0	17.9
Accrued expenses	2.0	2.2	2.3	2.5	2.6	2.7
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	–	–	–	–	–	–
Total current liabilities	–	–	–	–	–	–
Long-term debt	508	484	460	460	237	168
Minority interest	0	−0.1	0	0	0	−0.1
Other liabilities	24.3	24.9	21.9	22.6	19.6	20.5
Total liabilities	533	508	482	483	257	188
Shareholders' equity
Preferred stock	0	0	0	–	0	0
Common stock	0.2	0.2	0.2	0.2	0.2	0.2
Additional paid-in capital	275	272	267	274	258	246
Retained earnings (accumulated deficit)	−98.3	−67.5	−39.0	−24.0	−55.4	−68.0
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	0	0
Total equity	177	205	228	250	203	178
Total liabilities & shareholders' equity	710	713	710	733	460	366

Cash flow statement in millions of USD, fiscal years

Cash flow statement, BRT Apartments Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−11.8	−9.6	4.0	50.1	29.2	−19.7
Depreciation, depletion & amortization	26.4	25.9	28.5	24.8	8.0	6.7
Deferred taxes	–	–	–	–	–	–
Non-cash items	5.8	4.4	−11.4	−60.7	−35.8	11.8
Changes in working capital	−6.3	3.5	−1.5	1.2	−2.0	−0.5
Cash from operations	14.1	24.1	19.6	15.4	−0.5	−1.8
Investing activities
Capital expenditures	−7.5	−24.4	−9.6	−6.3	−1.3	−0.9
Other investing cash flows	−14.0	5.5	26.3	−9.5	−20.8	5.7
Cash from investing	−21.5	−18.9	16.7	−15.8	−22.1	4.8
Financing activities
Financing cash flow items	−1.8	−1.4	−0.8	−0.8	−0.4	−0.1
Cash dividends paid	−18.9	−18.6	−18.9	−17.9	−15.8	−15.1
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	23.1	23.6	−12.5	5.3	49.0	8.4
Cash from financing	2.4	3.6	−32.2	−13.4	32.9	−6.8
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−5.0	8.8	4.1	−13.7	10.2	−3.7
Free cash flow	6.6	−0.3	10.0	9.2	−1.8	−2.6

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.