Brokerages Expect BRT Realty Trust (BRT) Will Post Earnings of $0.17 Per Share
Wall Street analysts forecast that BRT Realty Trust (NYSE:BRT) will post earnings of $0.17 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for BRT Realty Trust’s earnings. The lowest EPS estimate is $0.14 and the highest is $0.19. BRT Realty Trust posted earnings of $0.21 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 19%. The business is expected to issue its next quarterly earnings report on Tuesday, December 12th.
According to Zacks, analysts expect that BRT Realty Trust will report full-year earnings of $0.62 per share for the current year, with EPS estimates ranging from $0.59 to $0.64. For the next financial year, analysts expect that the business will report earnings of $0.76 per share, with EPS estimates ranging from $0.71 to $0.81. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover BRT Realty Trust.
A number of analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating on shares of BRT Realty Trust in a research report on Wednesday, November 1st. TheStreet upgraded BRT Realty Trust from a “d+” rating to a “c-” rating in a research report on Tuesday, September 26th. Janney Montgomery Scott began coverage on BRT Realty Trust in a research report on Friday, September 29th. They set a “neutral” rating and a $10.50 price objective for the company. Finally, FBR & Co assumed coverage on BRT Realty Trust in a research report on Thursday, October 26th. They set a “buy” rating and a $11.75 price objective for the company.
Several hedge funds have recently modified their holdings of the company. B. Riley Financial Inc. increased its stake in shares of BRT Realty Trust by 6.2% in the third quarter. B. Riley Financial Inc. now owns 87,631 shares of the financial services provider’s stock valued at $939,000 after buying an additional 5,119 shares during the period. Stifel Financial Corp acquired a new stake in BRT Realty Trust during the third quarter worth approximately $108,000. Oppenheimer & Close LLC grew its stake in BRT Realty Trust by 38.4% during the third quarter. Oppenheimer & Close LLC now owns 259,116 shares of the financial services provider’s stock worth $2,777,000 after purchasing an additional 71,924 shares during the period. Finally, Northern Trust Corp grew its stake in BRT Realty Trust by 2.2% during the second quarter. Northern Trust Corp now owns 54,555 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 1,200 shares during the period. 22.06% of the stock is owned by institutional investors.
BRT Realty Trust (NYSE:BRT) traded up $0.03 during trading hours on Thursday, hitting $11.14. The stock had a trading volume of 11,618 shares, compared to its average volume of 17,954. The company has a market cap of $156.24, a P/E ratio of 16.88 and a beta of 0.22. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 3.11. BRT Realty Trust has a 1 year low of $7.36 and a 1 year high of $11.14.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.72 dividend on an annualized basis and a yield of 6.46%. BRT Realty Trust’s payout ratio is presently 90.00%.
BRT Realty Trust announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 12th that authorizes the company to repurchase $5.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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About BRT Realty Trust
BRT Apartments Corp. is a real estate investment trust (REIT). The Trust is focused on the ownership, operation and development of multi-family properties. These activities are primarily conducted through joint ventures in which the Trust has an equity interest in the entity owning the property. The Trust’s segments include Multi-Family Real Estate and Other Assets.
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