BRT Apartments

What BRT Apartments does

BRT Apartments Corp. (NYSE: BRT) is a publicly traded, internally managed real estate investment trust founded in 1989 and headquartered at 60 Cutter Mill Road, Great Neck, New York. The company focuses on the ownership, operation, and development of multifamily properties primarily in the Southeast United States and Sun Belt markets, targeting stabilized, undermanaged, or value-add opportunities of 200+ units with minimum equity checks of $5 million. As of May 2026, BRT's portfolio comprised 31 multifamily properties totaling 8,311 units across 11 states (Alabama, Florida, Georgia, Mississippi, Missouri, Ohio, South Carolina, Tennessee, Texas, Virginia, and North Carolina), supplemented by preferred equity investments in two additional multifamily properties through joint ventures with experienced partner operators who contribute at least 20% equity and bring agency lender relationships.

The company's business model is straightforward recurring rental income from a diversified multifamily portfolio, distributed to shareholders as quarterly dividends (currently $0.25/share, ~6.77% yield) consistent with REIT taxable income distribution requirements. BRT does not operate a technology product or SaaS platform; its "product" is the acquisition, asset management, and operation of physical apartment communities, with all investment, underwriting, and asset management performed by an in-house team led by President and CEO Jeffrey A. Gould. Recent strategic activity includes a December 2025 refinancing that converted $42.7M of mortgages into $71.9M of new debt while paying off a $17.5M credit facility draw, ongoing portfolio acquisitions in Texas and Tennessee, and an expanded $10M stock repurchase program announced in March 2026. Q1 2026 Core Funds From Operations of $0.33/share exceeded analyst estimates of $0.27/share.

Name

BRT Apartments

Legal name

BRT Apartments Corp.

Website

https://brtapartments.com

Company type

Public

Founded year

1989

Operating status

Operating

Headcount range

1–10 employees

Short description

BRT Apartments Corp. (NYSE: BRT) is an internally managed multifamily REIT that owns and operates 31 properties totaling 8,311 units across 11 Southeast and Sun Belt states, targeting 200+ unit value-add acquisitions with $5M+ equity checks alongside joint venture equity investments with local operator partners.

Ownership category

akta.pro rank

Headquarters

HQ city

Great Neck

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Others

Revenue model

1. Multifamily Rental Income: BRT Apartments generates revenue through rental income from its portfolio of 31 multifamily properties comprising 8,311 units across 11 states. As a REIT, the company distributes a significant portion of its taxable income to shareholders through quarterly dividends.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

BRT Apartments Corp. is a publicly traded real estate investment trust that owns, operates, and develops multifamily residential properties, primarily in the Southeast United States and Sun Belt locations. The company directly acquires stabilized, undermanaged, or value-add multifamily properties of 200+ units with a minimum $5 million equity requirement, and also invests via joint venture equity partnerships with experienced local operators. As of recent reporting, BRT holds interests in 31 multifamily properties comprising 8,311 units across 11 states.

Product overview

BRT Apartments Corp. is a publicly traded Real Estate Investment Trust (REIT) focused on the ownership, operation, and development of multifamily properties primarily in Sun Belt locations. The company operates a portfolio of 31 multifamily properties comprising 8,311 units across 11 states (Alabama, Florida, Georgia, Mississippi, Missouri, Ohio, South Carolina, Tennessee, Texas, Virginia, and North Carolina). BRT's investment strategy targets stabilized, undermanaged, or value-add multifamily opportunities with 200+ units and equity requirements of at least $5 million. The company also makes limited joint venture equity investments with experienced partner operators. BRT Apartments does not offer a technology product or SaaS platform—it is a traditional real estate investment trust whose 'product' is multifamily property investment and management.

Differentiator

Problem solved

Functional benefit

Products and services

• Multifamily Rental Property Portfolio

Quantifiable outcome

• Q1 2026 Core FFO of $0.33 per share exceeded analyst estimate of $0.27 per share

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Independence Realty Trust: Independence Realty Trust (IRT) is a multifamily REIT focused on Sun Belt non-gateway markets, closely matching BRT's geographic strategy of acquiring 200+ unit value-add and stabilized properties in high-growth southeastern U.S. metros.
• NexPoint Residential Trust: NexPoint Residential Trust (NXRT) is a small-cap multifamily REIT acquiring value-add properties primarily in the Sun Belt, with a similar focus on 200+ unit assets and capital improvement programs, directly comparable to BRT's value-add investment thesis.
• Centerspace: Centerspace (CSR) is a multifamily REIT operating a similarly sized portfolio across Sun Belt and Midwest markets, with comparable scale (~8,000+ units), providing a direct small-cap peer benchmark to BRT's 31-property, 8,311-unit portfolio.
• Veris Residential: Veris Residential (VRE) is a small-cap multifamily REIT with comparable portfolio scale to BRT and a similar repositioning/value-add strategy, providing a peer benchmark for capital deployment and operating margin recovery.

Broad incumbents

• Mid-America Apartment Communities: Mid-America Apartment Communities (MAA) is the largest Sun Belt-focused multifamily REIT, serving similar resident demographics and operating in overlapping metros (Texas, Florida, Carolinas, Tennessee). MAA is a much larger incumbent but the most direct broad comparable for BRT's geographic thesis.
• Camden Property Trust: Camden Property Trust (CPT) is a large-cap multifamily REIT with meaningful Sun Belt exposure (Texas, Southeast), making it a broader incumbent benchmark for BRT's same-store performance and operating metrics.
• AvalonBay Communities: AvalonBay Communities (AVB) is a large-cap multifamily REIT operating high-quality apartment communities across U.S. coastal and select Sun Belt markets. While significantly larger, it serves as an industry benchmark for FFO growth, dividend policy, and capital structure relevant to smaller peers like BRT.

Others

• One Liberty Properties: One Liberty Properties (OLP) shares substantial overlapping management and board with BRT (Jeffrey A. Gould, Israel Rosenzweig, David W. Kalish). While One Liberty focuses on net-leased retail/industrial rather than multifamily, the shared governance and capital allocation philosophy make it a closely linked related-party comparable.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BRT Apartments