BRT Apartments Corp. (NYSE:BRT) Announces Quarterly Dividend of $0.22

BRT Apartments Corp. (NYSE:BRT) declared a quarterly dividend on Thursday, June 10th, Wall Street Journal reports. Investors of record on Friday, June 25th will be paid a dividend of 0.22 per share by the financial services provider on Friday, July 9th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date is Thursday, June 24th.

BRT Apartments has increased its dividend by 144.4% over the last three years and has increased its dividend every year for the last 1 years.

BRT Apartments stock traded down $0.11 during trading hours on Thursday, reaching $17.75. 39,975 shares of the company were exchanged, compared to its average volume of 51,015. BRT Apartments has a 12 month low of $9.95 and a 12 month high of $21.70. The firm has a market capitalization of $312.10 million, a price-to-earnings ratio of -16.24 and a beta of 1.25. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $17.88.

BRT Apartments (NYSE:BRT) last posted its quarterly earnings data on Wednesday, May 5th. The financial services provider reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07). BRT Apartments had a negative return on equity of 10.33% and a negative net margin of 66.47%. Equities research analysts forecast that BRT Apartments will post 1.04 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on BRT shares. TheStreet raised BRT Apartments from a “d+” rating to a “c-” rating in a research report on Tuesday, March 23rd. B. Riley lifted their price target on BRT Apartments from $16.50 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, May 17th. DA Davidson upped their price target on BRT Apartments from $15.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, March 15th. Finally, Zacks Investment Research upgraded shares of BRT Apartments from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, March 16th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. BRT Apartments presently has an average rating of “Buy” and a consensus target price of $21.25.

In related news, EVP Mitchell Gould sold 3,236 shares of the business’s stock in a transaction dated Wednesday, June 2nd. The stock was sold at an average price of $18.63, for a total transaction of $60,286.68. Following the transaction, the executive vice president now directly owns 175,590 shares in the company, valued at $3,271,241.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 38.50% of the stock is owned by company insiders.

BRT Apartments Company Profile

BRT is a real estate investment trust that owns, operates and develops multi-family properties.

Further Reading: Dual Listing What You Need to Know

Dividend History for BRT Apartments (NYSE:BRT)

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