BRT Apartments (BRT) Reiterated at Market Outperform by Citizens as Fundamentals Improve

Citizens analyst Aaron Hecht reiterated a Market Outperform rating and $20.00 price target on BRT Apartments (NYSE: BRT).

The analyst commented, "We reiterate our Market Outperform rating and $20 price target (25% FTM NAV discount) on shares of BRT Apartments Corp. (BRT) after updating for 2Q26 results. BRT reported Core FFO of $0.30 per share, ahead of our $0.28 estimate, with the upside primarily attributable to stronger performance in the Joint Venture portfolio. On a BRT-defined AFFO per share basis, results were $0.36 versus our $0.35 estimate. Operationally, the quarter showed early signs of improving fundamentals across BRT’s Sunbelt portfolio, supported by moderating supply pressures and stronger occupancy. The acquisition pipeline also appears to be re-accelerating, with BRT announcing its first acquisition since 2022 and disclosing that an additional $113mm of transactions are expected to close in the near term. In addition, BRT repurchased 2.9mm worth of shares during the quarter at $14.28 per share, marking the third consecutive quarter of $2.5mm+ of buybacks. We expect repurchases to remain an important capital allocation priority, particularly given the shares’ current 44% discount to our FTM NAV. Looking forward, we believe BRT is positioned to deliver improving earnings growth as the operating cycle becomes more favorable, while management’s continued share repurchases underscore confidence in the long-term value of the platform."

For an analyst ratings summary and ratings history on BRT Apartments click here. For more ratings news on BRT Apartments click here.

Shares of BRT Apartments closed at $14.52 yesterday.

You May Also Be Interested In

• JPMorgan Reiterates Overweight Rating on Adani Ports & Special Economic Zone (ADSEZ:IN)
• UBS Double Downgrades Essity AB (ESSITYB:SS) (ESSYY) to Sell
• JPMorgan Upgrades Copart (CPRT) to Overweight