BRT Apartments price target lowered to $21 from $22 at B. Riley

B. Riley lowered the firm’s price target on BRT Apartments (BRT) to $21 from $22 and keeps a Buy rating on the shares. The company’s Q4 results reflected the vulnerability of the Sunbelt apartment market, given continued new supply pressures and upward pressure on operating expenses, the analyst tells investors in a research note. However, the firm believes these headwinds are not enough to justify BRT’s current valuation discount.