BRT Apartments Corp. (MD) BRT

Competitive advantage analysis · real-estate

REIT Specialized
Overall moat score
17/100
Weak

Ranked against 24 peers in REIT - Residential

About BRT Apartments Corp. (MD)

BRT Apartments Corp. (the "Company" or "BRT"), a Maryland corporation, owns, operates and, to a lesser extent, develops multi-family properties. These multi-family properties may be wholly owned by us or by unconsolidated joint ventures in which the Company contributes a significant portion of the equity. At September 30, 2025, the Company: (i) wholly-owns 21 multi-family properties located in 11 states … Full BRT analysis →

Key risks

  • Elevated Leverage Risk Leverage is elevated (score 0.08), raising refinancing risk.
  • Weak AFFO Coverage AFFO generation is weak (score 0.04), threatening dividend sustainability.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Rent Pricing Power

Developing
27
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Signals, strengths and risks for Rent Pricing Power

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Signals, strengths and risks for AFFO Strength

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Signals, strengths and risks for Balance Sheet & Cost of Capital

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Signals, strengths and risks for Capital Recycling & Growth

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Signals, strengths and risks for Operational Efficiency

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Signals, strengths and risks for Portfolio Quality & Diversification

Where BRT ranks in REIT - Residential

BRT Apartments Corp. (MD) ranks #20 of 21 scored companies in REIT - Residential by moat score — the top 95%. The widest moat in the group is Millrose Properties, Inc. (MRP) at 97/100.

# Company Moat score Rating
13 Elme Communities ELME 40/100 Developing
14 Veris Residential, Inc. VRE 39/100 Developing
15 Independence Realty Trust, Inc. IRT 37/100 Developing
16 D/B/A Centerspace CSR 36/100 Developing
17 Clipper Realty Inc. CLPR 33/100 Developing
18 NexPoint Residential Trust, Inc NXRT 25/100 Weak
19 Apartment Investment and Manage AIV 20/100 Weak
20 BRT Apartments Corp. (MD) BRT 17/100 Weak
21 Bluerock Homes Trust, Inc. BHM 13/100 Weak

See every Real Estate Investment Trusts company ranked by moat score →

How BRT scores on the REIT Specialized defenses

Rent Pricing Power

Score 27 · 20% of the moat score

For a REIT, pricing power is the ability to raise rents at renewal and still keep the space occupied.

AFFO Strength

Score 4 · 18% of the moat score

AFFO — adjusted funds from operations — is the cash a REIT can actually distribute after the recurring capital spending buildings need in order to stay leasable.

Balance Sheet & Cost of Capital

Score 12 · 20% of the moat score

Real estate is bought with borrowed money, so a REIT's cost of capital is its competitive advantage.

Capital Recycling & Growth

Score 16 · 16% of the moat score

REITs grow by issuing shares and debt to buy more property, which creates value only when the yield on the asset exceeds the cost of the capital raised.

Operational Efficiency

Score 12 · 14% of the moat score

Running property — leasing, maintenance, taxes, management — is the part of the business a REIT genuinely controls.

Portfolio Quality & Diversification

Score 26 · 12% of the moat score

Portfolio quality is really a question about what happens when a tenant fails.

How each REIT Specialized defense is measured, in full →

Understanding BRT's moat

What is BRT Apartments Corp. (MD)'s moat score?

BRT Apartments Corp. (MD) (BRT) scores 17 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as weak. It ranks #20 of 21 scored companies in REIT - Residential, the top 95%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 24 companies in REIT - Residential. Its strongest defense is Rent Pricing Power (27/100) and its weakest is AFFO Strength (4/100).

How does BRT Apartments Corp. (MD) compare with other REIT - Residential companies?

BRT Apartments Corp. (MD) ranks #20 of 21 scored companies in REIT - Residential by moat score. The widest moat in REIT - Residential is Millrose Properties, Inc. (MRP) at 97/100. The companies ranked closest are Apartment Investment and Manage (AIV) at 20 just above it and Bluerock Homes Trust, Inc. (BHM) at 13 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — REIT Specialized in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 24 companies in REIT - Residential. The defenses are then weighted to produce the overall score out of 100.

Why is BRT Apartments Corp. (MD) scored with the REIT Specialized template?

A REIT is a portfolio of buildings financed with debt and required to distribute most of its taxable income. Reported earnings are dominated by depreciation on assets that often appreciate, so net income says very little; the real question is how much cash the properties distribute, and how securely. The REIT template scores what determines that: rent pricing, distributable cash, cost of capital, and the discipline behind growth.

Which competitive defenses are measured for BRT Apartments Corp. (MD)?

The REIT Specialized template measures 6 defenses, and BRT scores: Rent Pricing Power (27), AFFO Strength (4), Balance Sheet & Cost of Capital (12), Capital Recycling & Growth (16), Operational Efficiency (12), Portfolio Quality & Diversification (26). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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