BRT Apartments (NYSE:BRT) Announces Earnings Results

BRT Apartments (NYSE:BRT) issued its quarterly earnings results on Monday. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.56, Zacks reports. BRT Apartments had a negative return on equity of 6.77% and a negative net margin of 12.59%.

BRT Apartments Stock Down 1.9%

Shares of NYSE BRT traded down $0.27 during trading on Monday, hitting $14.14. 27,493 shares of the company traded hands, compared to its average volume of 42,464. The business’s fifty day moving average is $14.86 and its 200 day moving average is $14.55. BRT Apartments has a fifty-two week low of $13.18 and a fifty-two week high of $16.69. The firm has a market capitalization of $266.04 million, a price-to-earnings ratio of -21.75 and a beta of 0.85. The company has a debt-to-equity ratio of 3.00, a quick ratio of 2.14 and a current ratio of 2.14.

BRT Apartments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 25th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Thursday, June 25th. BRT Apartments’s payout ratio is -153.85%.

Institutional Trading of BRT Apartments

Large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in BRT Apartments during the fourth quarter worth $895,000. Stifel Financial Corp grew its holdings in shares of BRT Apartments by 26.4% during the fourth quarter. Stifel Financial Corp now owns 169,390 shares of the financial services provider’s stock valued at $2,490,000 after buying an additional 35,420 shares during the last quarter. Permanens Capital L.P. increased its position in shares of BRT Apartments by 21.4% during the third quarter. Permanens Capital L.P. now owns 201,263 shares of the financial services provider’s stock worth $3,192,000 after acquiring an additional 35,415 shares in the last quarter. Millennium Management LLC bought a new stake in shares of BRT Apartments during the fourth quarter worth about $330,000. Finally, Marshall Wace LLP acquired a new stake in shares of BRT Apartments in the 4th quarter worth about $304,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BRT. Citigroup reissued a “market outperform” rating on shares of BRT Apartments in a research note on Friday, May 29th. Zacks Research upgraded BRT Apartments to a “hold” rating in a report on Monday, July 13th. Weiss Ratings upgraded BRT Apartments from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 6th. Finally, Wall Street Zen raised BRT Apartments from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BRT Apartments presently has an average rating of “Hold” and an average target price of $19.75.

BRT Apartments Company Profile

BRT Apartments Corp. is an equity real estate investment trust (REIT) that acquires, owns and operates multi-family residential properties. The company targets mid-market apartment communities and seeks value-add opportunities through renovations, operational efficiencies and active asset management. Its investment strategy is focused on generating stable, long-term rental income and potential capital appreciation from its portfolio of rental properties.

Established in 2013, BRT Apartments Corp.