BRT Apartments
BRT on NYSE. BRT Apartments owns apartment buildings and rents the apartments to residents. Market value $250m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Real estate stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $2.81 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns -2 cents a year. Above 10 is good.
Quality score: 37 of 100. Price score: 15 of 100. Our list needs 70 on quality and 60 on price.
$13.64 a share, 3% above its 1-year low
Over the past year the price has ranged from $13.18 to $15.63.
Dividend: 5.9% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $32m | $71m | $94m | $96m | $97m |
| Operating margin | |||||
| Operating margin | -31.4% | -21.3% | -15.3% | -12.9% | -12.9% |
| Debt to equity | |||||
| Debt to equity | 1.17 | 1.84 | 2.01 | 2.36 | 2.87 |
| Shares outstanding | |||||
| Shares outstanding | 0.02bn | 0.02bn | 0.02bn | 0.02bn | 0.02bn |
Health checks
- Free cash flow positive4 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Yes
- Debt2.87× equity
- Revenue growth, five yearsStrong, 28.1% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $24 million last quarter, about the same as a year ago.
- A loss of $3 million, compared with a loss of $3 million a year ago.
- It loses 13 cents on each $1 of sales, compared with 12 cents a year earlier.
- Spare cash over the past 12 months: $7 million, down from $18 million.
- About the same number of shares as a year ago.
- Debt is $484 million more than cash, up from $459 million a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $24m |
| December 2024 | $24m |
| March 2025 | $24m |
| June 2025 | $24m |
| September 2025 | $24m |
| December 2025 | $24m |
| March 2026 | $25m |
| June 2026 | $24m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$2m |
| December 2024 | -$2m |
| March 2025 | -$2m |
| June 2025 | -$3m |
| September 2025 | -$3m |
| December 2025 | -$4m |
| March 2026 | -$3m |
| June 2026 | -$3m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 13 March 2026
- Next quarterly (estimated, 10-Q)
- 9 November 2026
Who owns it
2 long-term investors we follow own it, unchanged from 2 last quarter. 110 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Boston PartnersBoston Partners team | $2m | <0.1% | Added |
| First Manhattan Co.First Manhattan partners | $2m | <0.1% | Cut |
Largest holders overall
- BlackRock$16mAdded
- Vanguard Capital Management$7m
- Oppenheimer & Close$6m
- Renaissance Technologies$5mCut
- Geode Capital Management$5mAdded
- State Street$4mCut
- Morgan Stanley$4mAdded
- State of New Jersey Common Pension Fund D$3mAdded
- Stifel Financial$3m
- Boston Partners$2mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- GOULD MATTHEW JInsider or founderat least 26.0%(filed with 2 related holders)Since 30 June 2026
What they said
The Reporting Persons hold the shares of the Issuer's common stock ( the "Shares") for investment purposes. Each of them, subject to market conditions and their respective assessments of prospects of the Issuer, may acquire additional Shares from time to time, through open…
Read the filing - The Vanguard GroupPassive investorSold down below 5%Since 31 December 2025
| Holder | Stake | Since | |
|---|---|---|---|
GOULD MATTHEW J Insider or founder | at least 26.0% (filed with 2 related holders) | 30 June 2026 | What they saidThe Reporting Persons hold the shares of the Issuer's common stock ( the "Shares") for investment purposes. Each of them, subject to market conditions and their respective assessments of prospects of the Issuer, may acquire additional Shares from time to time, through open… Read the filing |
The Vanguard Group Passive investor | Sold down below 5% | 31 December 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 2 insiders bought $1m of shares on the open market. 2 sold $100,248.
- ZWEIER GEORGEVICE PRESIDENT - CFOSold
- Date
- 29 December 2025
- Shares
- 6,801
- Price
- $14.74
- Value
- $100,247
- Ginsburg Alan HDirectorSold
- Date
- 28 October 2025
- Shares
- 0
- Price
- $14.88
- Value
- $1
- GOULD MATTHEW JSENIOR VICE PRESIDENT, DirectorBought
- Date
- 20 October 2025
- Shares
- 7,000
- Price
- $14.96
- Value
- $104,720
- GOULD JEFFREYPRESIDENT AND CEO, DirectorBought
- Date
- 20 October 2025
- Shares
- 7,000
- Price
- $14.96
- Value
- $104,720
- GOULD JEFFREYPRESIDENT AND CEO, DirectorBought
- Date
- 17 October 2025
- Shares
- 3,953
- Price
- $14.97
- Value
- $59,176
- GOULD MATTHEW JSENIOR VICE PRESIDENT, DirectorBought
- Date
- 17 October 2025
- Shares
- 3,953
- Price
- $14.97
- Value
- $59,176
- GOULD JEFFREYPRESIDENT AND CEO, DirectorBought
- Date
- 16 October 2025
- Shares
- 8,000
- Price
- $15.00
- Value
- $120,000
- GOULD MATTHEW JSENIOR VICE PRESIDENT, DirectorBought
- Date
- 16 October 2025
- Shares
- 8,000
- Price
- $15.00
- Value
- $120,000
- GOULD JEFFREYPRESIDENT AND CEO, DirectorBought
- Date
- 13 October 2025
- Shares
- 9,000
- Price
- $14.84
- Value
- $133,530
- GOULD MATTHEW JSENIOR VICE PRESIDENT, DirectorBought
- Date
- 13 October 2025
- Shares
- 9,000
- Price
- $14.84
- Value
- $133,530
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 29 December 2025 | ZWEIER GEORGE VICE PRESIDENT - CFO | Sold | 6,801 | $14.74 | $100,247 |
| 28 October 2025 | Ginsburg Alan H Director | Sold | 0 | $14.88 | $1 |
| 20 October 2025 | GOULD MATTHEW J SENIOR VICE PRESIDENT, Director | Bought | 7,000 | $14.96 | $104,720 |
| 20 October 2025 | GOULD JEFFREY PRESIDENT AND CEO, Director | Bought | 7,000 | $14.96 | $104,720 |
| 17 October 2025 | GOULD JEFFREY PRESIDENT AND CEO, Director | Bought | 3,953 | $14.97 | $59,176 |
| 17 October 2025 | GOULD MATTHEW J SENIOR VICE PRESIDENT, Director | Bought | 3,953 | $14.97 | $59,176 |
| 16 October 2025 | GOULD JEFFREY PRESIDENT AND CEO, Director | Bought | 8,000 | $15.00 | $120,000 |
| 16 October 2025 | GOULD MATTHEW J SENIOR VICE PRESIDENT, Director | Bought | 8,000 | $15.00 | $120,000 |
| 13 October 2025 | GOULD JEFFREY PRESIDENT AND CEO, Director | Bought | 9,000 | $14.84 | $133,530 |
| 13 October 2025 | GOULD MATTHEW J SENIOR VICE PRESIDENT, Director | Bought | 9,000 | $14.84 | $133,530 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 13 Mar 2026, plus the 10-Q filed 10 Aug 2026 and 6 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It carries a lot of debt: 2.9× its equity.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.