Capital ManagementBRT repurchased shares at a significant discount to FTM NAV, which is seen as an excellent use of capital.
Market OutlookWith construction starts slowing, new supply is expected to decline significantly over the next two years, potentially creating a more favorable operating environment.
Market ValuationBRT stock is currently trading at a 34% discount to FTM NAV, presenting a public market valuation that is seen as overdone and misaligned with private market conditions.