회사 개요
BRT Apartments Corp. operates as a real estate investment trust (REIT) that acquires, manages, and maintains a portfolio of multi-family residential properties, while also holding minority interests in joint ventures. The company functions within the Real Estate sector and specifically targets the REIT - Residential industry, which focuses exclusively on income-generating rental housing rather than speculative commercial development. As of March 11, 2026, the organization's scale is defined by a market capitalization of $268.04M, annual revenue of $122.24M, and a workforce of 10 employees. These financial figures indicate a mid-sized entity with a relatively lean operational structure, suggesting that the company's revenue generation relies heavily on the performance of its physical assets rather than a large administrative overhead. The ownership of 31 multi-family properties containing 8,311 units across 11 states further contextualizes the company's geographic footprint and asset concentration within the residential rental market.
재무 건전성
BRT Apartments Corp. reported a trailing twelve-month revenue of $122.24M with a corresponding net income of $25.50M and EBITDA of $53.31M. The significant disparity between the $122.24M revenue and the $25.50M net income reveals a cost structure where operating expenses and interest charges consume approximately 79% of total revenue before arriving at the bottom line. The company generated $35.47M in free cash flow, a metric that indicates a robust ability to generate liquidity from operations to fund debt service, capital expenditures, or potential special dividends without relying on external financing. Profitability is further analyzed through three key margins: a gross margin of 51.3%, an operating margin of 8.4%, and a profit margin of 20.9%. The wide gap between the gross margin and operating margin highlights substantial operating costs relative to rental income, while the profit margin's position above the operating margin suggests that non-operating items or tax benefits significantly boosted the final earnings. Regarding liquidity, the company holds $25.14M in cash against $510.28M in total debt, resulting in a debt-to-equity ratio of 287.97% which signifies a highly leveraged balance sheet typical for REITs but requiring careful interest rate management. The current ratio stands at 2.82, indicating that the company possesses $2.82 in current assets for every $1 of current liabilities, which points to a conservative stance on short-term liquidity and an ability to meet immediate obligations comfortably. Return metrics show a Return on Equity of 20.7% and a Return on Assets of 0.8%, revealing that while the equity base is highly productive, the return on the total asset base is extremely low, likely due to the high leverage inflating the equity denominator and the nature of REIT asset depreciation.
밸류에이션 평가
The valuation metrics for BRT Apartments Corp. show a Trailing P/E Ratio (TTM) listed as N/A due to the specific calculation constraints or data presentation in the source, while the Forward P/E is reported at -21.72, which typically implies the market prices in future earnings that may not yet be realized or reflects specific accounting adjustments. The Price to Book ratio is 1.50, suggesting that the market values the company at 1.5 times its book value, indicating a moderate premium over the net asset value of its underlying properties and equity. Alternative valuation measures include a Price to Sales ratio of 2.19 and an EV/EBITDA of 14.37, which provide context when traditional P/E metrics are less reliable or unavailable; these ratios suggest the company is trading at a valuation that is neither extremely cheap nor exorbitantly expensive relative to its sales and cash earnings power. The stock has traded between a 52-week high of $16.69 and a 52-week low of $13.18, providing a historical range for price volatility analysis. The Beta of 0.63 indicates that the stock's price volatility is roughly 37% lower than the broader market, suggesting it may act as a defensive holding within a portfolio during periods of market turbulence.
Growth & Income
The company's financial trajectory shows a Revenue Growth (YoY) of -4.7% while the Earnings Growth (YoY) is listed as N/A. This contraction in revenue suggests a decline in rental income or occupancy rates over the past year, and without explicit earnings growth data, it is difficult to determine if earnings are growing faster or slower than revenue, but the negative revenue trend generally pressures the bottom line. For dividend investors, the company offers a Dividend Yield of 7.1% with a Payout Ratio of 500.0%. A payout ratio of 500.0% indicates that the company is distributing dividends far exceeding its reported net income, which is a common practice in REITs to distribute cash flow from operations and leverage rather than just earnings, though it requires scrutiny regarding sustainability if cash flow declines. Given the high payout ratio, the company appears to rely on operational cash flow and potentially debt capacity to fund the 7.1% yield rather than organic earnings retention for reinvestment. Overall, the growth and income profile presents a mature asset with significant yield but facing revenue headwinds and a highly leveraged structure that supports current payouts but limits flexibility for aggressive expansion.