BRT Apartments (NYSE:BRT) Issues Earnings Results

BRT Apartments (NYSE:BRT) issued its earnings results on Thursday. The financial services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02), FiscalAI reports. BRT Apartments had a negative net margin of 13.22% and a negative return on equity of 7.46%. The company had revenue of $24.73 million during the quarter, compared to analysts’ expectations of $24.61 million.

BRT Apartments Price Performance

Shares of BRT Apartments stock traded down $0.12 on Friday, hitting $12.63. The company’s stock had a trading volume of 53,500 shares, compared to its average volume of 56,594. The company has a market capitalization of $237.41 million, a P/E ratio of -15.99 and a beta of 0.87. BRT Apartments has a 52-week low of $12.51 and a 52-week high of $15.63. The firm has a fifty day moving average price of $13.61 and a 200-day moving average price of $14.32. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 3.16.

BRT Apartments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 6th. Investors of record on Monday, September 28th were given a $0.25 dividend. The ex-dividend date was Monday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 7.9%. BRT Apartments’s payout ratio is currently -142.86%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup reissued a “market outperform” rating on shares of BRT Apartments in a research note on Thursday, August 20th. Weiss Ratings downgraded BRT Apartments from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $20.00 price objective on shares of BRT Apartments in a research note on Thursday, August 20th. Finally, Zacks Research raised BRT Apartments to a “hold” rating in a report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.00.

Insiders Place Their Bets

In other BRT Apartments news, Director Alan Ginsburg sold 50,129 shares of the firm’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $13.43, for a total transaction of $673,232.47. Following the completion of the transaction, the director directly owned 24,800 shares in the company, valued at approximately $333,064. This trade represents a 66.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 42.20% of the company’s stock.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust (REIT) that owns, operates and invests in multifamily apartment communities. The company’s portfolio is focused primarily on garden-style and other conventional residential properties, generating rental income from apartments and related services.

BRT typically invests through direct ownership and joint ventures, and its properties are concentrated largely in the Southeastern United States, with additional exposure to selected markets in other regions.