BRT Apartments price target lowered to $24 from $28 at JMP Securities

JMP Securities analyst Aaron Hecht lowered the firm’s price target on BRT Apartments to $24 from $28 and keeps an Outperform rating on the shares. The decline in construction deliveries in 2025 and beyond should create highly favorable supply and demand dynamics across the Sunbelt considering population growth remains consistent, the analyst tells investors in a research note. The firm says BRT is the most highly-discounted Sunbelt name in its multifamily REIT coverage.