BRT Apartments Corp Dossier
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SectorReal Estate IndustryResidential REITs Beta (adjusted)0.90 Intrinsic Value $15.62median of 1 methodbased on filings through 30 Jun 2026 Market Price $13.36Price as of 30 Sep 2026 UndervaluedIntrinsic value is 17% above the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $251.1M Enterprise Value $736.6M Shares Outstanding 18M diluted Next Earnings Date5 Nov 2026 Last ex-dividend25 Jun 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary BRT Apartments Corp. (NYSE: BRT) is a small-cap multifamily REIT focused on high-growth Sunbelt markets. Despite near-term headwinds from elevated supply deliveries and high interest expenses, BRT is well-positioned to benefit as the construction cycle turns and supply pressures moderate. The company's disciplined expense management, stable occupancy of 94.5%, and robust dividend yield of approximately 6.8% provide a compelling risk-reward profile for income-focused investors. Furthermore, management's active share repurchase program highlights deep confidence in the platform's long-term intrinsic value. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$15.50 Mean target$18.00 High · most bullish analyst$20.00 Our research · scenarios, merits, risks, and invalidation triggersResearch as of 20 Jun 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $13.5020% Prolonged oversupply in Sunbelt submarkets forces aggressive rent concessions, dragging down occupancy and same-store NOI. High interest rates persist, and refinancing upcoming maturities at elevated rates compresses margins, putting pressure on dividend coverage. Base CaseCentral scenario $18.0060% Matches the consensus meanMultifamily supply and demand in the Sunbelt region gradually return to balance through 2026 and 2027. BRT maintains stable occupancy around 94-95% and achieves modest organic rent growth. Disciplined cost controls offset elevated interest expenses, supporting the $1.00 annualized dividend. Bull CaseUpside scenario $20.0030% A rapid deceleration in Sunbelt multifamily supply deliveries combined with strong demographic inflows accelerates rent growth. BRT successfully executes capital recycling, selling non-core assets at premium valuations to deleverage the balance sheet, driving Core FFO and AFFO expansion. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
Thesis Invalidation Triggers
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |