One-glance verdict
Overvalued
$-15.26 our estimate vs market $13.77
Wall Street consensus: $18.00 (-218.0% lower than our fair-value estimate)
190% below our estimate, beyond the bull case
Fundamentals snapshot
BRT Apartments Corp.
BRT · NYQ · Real Estate · REIT - Residential
Current price
$13.77
52-week range
$13.18 - $15.97
Market cap
$258.78M
Balance sheet
Distressed
0.47x Concerning
Net debt $485.77M. 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 0.8% 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 -7.2% last year — the company lost money on shareholders' equity.
What this company does
BRT Apartments Corp.
BRT Apartments is a company that owns and runs apartment buildings in several US states. Its main source of income is the rent it collects from thousands of tenants, which provides a predictable cash flow (the total money moving in and out of a business). This matters because steady rent payments can help the company cover its bills and share profits with its investors.
How the company got here
Founded in 1972, BRT Apartments Corp. started with a broader focus on real estate financing and lending. Over the years, it shifted its strategy to concentrate on owning and operating apartment buildings. A key turning point was in 2021 when the company began buying out its partners in various properties, moving from partial ownership in many buildings to owning fewer properties outright. This change allowed BRT to have more control over its apartment communities and focus its business on being a direct landlord.
What it actually does
BRT Apartments is a Real Estate Investment Trust (REIT), which is a type of company that owns and often operates income-producing real estate. Think of them as a landlord on a large scale; they buy apartment buildings, rent out the units to people, and manage the properties. Their portfolio includes over 8,300 apartments across 11 states, primarily in the fast-growing Sun Belt region of the U.S. The company makes money by collecting rent from tenants and occasionally from selling properties.
Multifamily Properties
This is the company's single and primary line of business. BRT owns and operates apartment communities, which are also known as multifamily properties. Their main source of revenue (the money the company brings in) is the rent paid by tenants living in these apartments. The company focuses on acquiring buildings in areas with job and population growth, aiming to attract middle-class renters. Sometimes, they also partner with other experienced operators in joint ventures (a business arrangement where two or more parties agree to pool their resources for a specific task), but owning properties directly is their main focus.
What management is betting on now
Management's current strategy is centered on owning and improving apartment buildings in high-growth Sun Belt markets like the Southeast and Texas. They often look for "value-add" opportunities, which means buying properties that could benefit from renovations and better management to increase their value and the rent they can charge. The company is also focused on operational efficiency (running the business in a way that keeps costs down) and disciplined capital allocation (being smart about how they spend money on new properties and improvements). A key goal is to generate long-term cash flow (the cash generated from normal business operations) to support and grow its dividend (a payment made by a company to its shareholders).
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
$24.47M
Net income
$-3.22M
Diluted EPS
—
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
Revenue
$24.40M
Net income
$-2.21M
Diluted EPS
-0.12
Operating cash flow
$8.97M
Free cash flow
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Sources
Is it cheap or expensive?
Fair value $-15.26 vs current price $13.77
Wall Street consensus is the average analyst price target: $18.00 (-218.0% lower than our fair-value estimate).
Our most-likely fair value is $-15.26 a share — about 210.8% below today's price of $13.77, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Distressed
Net debt $485.8M. Interest coverage 0.5x.
Net debt
$485.77M
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 $508.48M 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 $989.58M 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 0.8% last year.
-
Free cash flow was positive in 4/10 years.
-
Dividend yield is 7.3% with 39-year payout history.
Risks
-
Net debt grew 9.9% over 3 years.
-
Return on equity was -7.2% 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
-18.73x
P/B
1.61x
P/S
2.68x
EV/EBITDA
20.28x
PEG ratio
0.78x
Profitability
How much profit each dollar creates
Gross margin
54.2%
Operating margin
11.6%
Net margin
-13.4%
ROE
-7.2%
ROA
0.9%
Health
Liquidity and balance-sheet strength
Debt / equity
3.17x
Current ratio
1.10x
Quick ratio
1.02x
Total debt
$508.48M
Total cash
$22.72M
Growth
How the business has been compounding
Revenue TTM
$97.80M
Revenue 5Y CAGR
31.9%
EPS TTM
-0.71
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$13.80M
Free CF TTM
$6.64M
FCF margin
6.8%
Dividend
Shareholder payout
Yield
7.3%
Payout ratio
500.0%
Last ex-div date
2026-09-28