BRT Apartments transferred with Buy rating at B. Riley

B. Riley put a Buy rating on BRT Apartments with a $19.50 price target following a transfer of coverage. While the company is likely to face near-term headwinds to growth due to competing new supply of multifamily developments in many of its key Sunbelt markets, this is not atypical for Sunbelt-focused apartment owners and should be partially offset by certain tailwinds to operating expenses, the analyst tells investors in a research note.