One-glance verdict
Overvalued
$-14.54 our estimate vs market $12.83
Wall Street consensus: $17.50 (-220.4% lower than our fair-value estimate)
188% below our estimate, beyond the bull case
Fundamentals snapshot
BRT Apartments Corp.
BRT · NYQ · Real Estate · REIT - Residential
Current price
$12.83
52-week range
$12.49 - $15.63
Market cap
$241.12M
Balance sheet
Distressed
0.47x Concerning
Net debt $496.81M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 1.1% last year.
- Reward Free cash flow was positive in 4/10 years.
- Risk Net debt grew 9.9% over 3 years.
- Risk Return on equity was -8.3% last year — the company lost money on shareholders' equity.
What this company does
BRT Apartments Corp.
BRT Apartments Corp. is like a landlord that owns lots of apartment buildings across the country. The money they make comes from collecting rent from tenants living in these apartments. This matters because consistent rent collection means they have reliable income to pay their own bills and hopefully make money for their investors.
How the company got here
BRT Apartments Corp. has been around since 1972, evolving from a broader real estate financing company into a specialized real estate investment trust (REIT) focused on apartment buildings. Initially, the company was involved in various real estate activities, but over time, it strategically reduced its exposure to lending and concentrated on owning and operating multi-family properties. This shift involved buying out partners in joint ventures to gain full ownership of properties, particularly in growing markets. The company's history shows a deliberate move towards simplifying its business to focus on generating income from rental properties.
What it actually does
BRT Apartments Corp. is essentially a landlord on a large scale. It owns and manages apartment buildings, and its main goal is to collect rent from tenants. Think of it like owning a big apartment complex and being responsible for everything from finding renters to fixing leaky faucets. The company makes money by charging rent for these apartments and also by selling properties when it sees an opportunity to make a profit. Its business is centered around providing housing and generating income from those properties.
Multifamily Properties
This is the core of BRT Apartments' business. The company owns and invests in apartment buildings, which are properties with multiple rental units, often called 'multifamily' in the real estate world. These are the apartments where people and families live. BRT earns money primarily through the rent paid by these residents. They also generate income from their ownership stakes in these properties, which can include profits when a property is sold. This segment represents the vast majority of BRT's operations and revenue.
What management is betting on now
BRT's management is focused on acquiring and improving apartment properties in areas that are experiencing growth, such as the Sun Belt region of the U.S. They look for properties that might be a bit run-down or under-managed, believing they can increase their value through renovations and better management. The strategy involves investing in markets with strong job growth and population increases, aiming to generate steady rental income and potential appreciation in property values over the long term. They also strategically partner with experienced local operators to help manage these properties.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
Revenue
$24.73M
Net income
$-3.96M
Diluted EPS
—
Operating cash flow
$8.57M
Free cash flow
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Sources
Revenue
$24.47M
Net income
$-3.22M
Diluted EPS
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Operating cash flow
$6.34M
Free cash flow
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Sources
Revenue
$24.61M
Net income
$-2.68M
Diluted EPS
-0.14
Operating cash flow
$2.09M
Free cash flow
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Sources
Revenue
$24.29M
Net income
$-4.32M
Diluted EPS
-0.23
Operating cash flow
$-3.68M
Free cash flow
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Sources
Revenue
$24.43M
Net income
$-2.71M
Diluted EPS
-0.14
Operating cash flow
$9.05M
Free cash flow
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Sources
Revenue
$24.20M
Net income
$-2.57M
Diluted EPS
-0.14
Operating cash flow
$8.48M
Free cash flow
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Sources
Revenue
$24.11M
Net income
$-2.35M
Diluted EPS
-0.12
Operating cash flow
$246.00K
Free cash flow
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Sources
Revenue
$23.97M
Net income
$-2.07M
Diluted EPS
-0.11
Operating cash flow
$7.58M
Free cash flow
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Sources
Is it cheap or expensive?
Fair value $-14.54 vs current price $12.83
Wall Street consensus is the average analyst price target: $17.50 (-220.4% lower than our fair-value estimate).
Our most-likely fair value is $-14.54 a share — about 213.3% below today's price of $12.83, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Distressed
Net debt $496.8M. Interest coverage 0.5x.
Net debt
$496.81M
Interest coverage
0.47x
BRT Apartments Corp.'s profit covers its interest bill about 0.5 times over. which is stronger than most peers shown here and 5 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
BRT
BASELINE
BRT Apartments Corp.
Total debt $518.65M Interest coverage 0.47x This is the baseline the peer rows are being compared against.
Total debt $870.67M Interest coverage -0.37x -100% vs BRT This peer has almost no interest-payment cushion compared with BRT.
Total debt $1.59B Interest coverage 0.34x -28% vs BRT Carries about 1.4x less debt cushion than BRT.
Total debt $812.61M Interest coverage 0.53x +12% vs BRT Has roughly the same debt cushion as BRT.
Total debt $1.28B Interest coverage 0.72x +53% vs BRT Carries about 1.5x more debt cushion than BRT.
Total debt $709.64M Interest coverage 0.62x +32% vs BRT Carries about 1.3x more debt cushion than BRT.
What you should know
The case for and against BRT
3 Rewards
2 Risks
Rewards
-
Revenue grew 1.1% last year.
-
Free cash flow was positive in 4/10 years.
-
Dividend yield is 7.7% with 39-year payout history.
Risks
-
Net debt grew 9.9% over 3 years.
-
Return on equity was -8.3% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
-17.46x
P/B
1.59x
P/S
2.50x
EV/EBITDA
19.96x
PEG ratio
0.78x
Profitability
How much profit each dollar creates
Gross margin
53.9%
Operating margin
10.1%
Net margin
-14.7%
ROE
-8.3%
ROA
0.9%
Health
Liquidity and balance-sheet strength
Debt / equity
3.46x
Current ratio
0.96x
Quick ratio
0.85x
Total debt
$518.65M
Total cash
$21.84M
Growth
How the business has been compounding
Revenue TTM
$98.11M
Revenue 5Y CAGR
31.9%
EPS TTM
-0.81
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$13.31M
Free CF TTM
$6.64M
FCF margin
6.8%
Dividend
Shareholder payout
Yield
7.7%
Payout ratio
500.0%
Last ex-div date
2026-09-28