Revisiting BRT Apartments – Insider Weekends
Key Insights:
- BRT Apartments is a New York based multifamily REIT with 28 properties across 11 states that focuses primarily on sunbelt states like Texas, South Carolina and Alabama.
- We consistently saw brothers Jeffrey and Matthew Gould purchase shares of BRT indirectly through their real estate firm Gould Investors in the first half of 2023, and after a roughly one year break, these purchases have resumed.
- We’ve written about BRT before, at a time where it seemed fairly undervalued and well-positioned for future growth and wanted to revisit the company after fiscal 2023 results were released.
BRT Apartments Corp (BRT): $17.64
Market Cap: $344.5 M
Enterprise Value: $782.95
When writing our April 2023 Monthly Newsletter, we were torn between writing about the asset management firm Victory Capital (VCTR) and the multifamily REIT BRT Apartments (BRT). Victory Capital ended up being one of the spotlight ideas for that month, and since writing about the company, we have seen the stock appreciate by more than 45%. However, we didn’t forget about BRT Apartments entirely, and instead chose to feature the company in an early April Insider Weekends post, in which we wrote the following:
Only plus or premium subscribers can access this post. Subscribe today.
