BRT Apartments (NYSE:BRT) Stock: Insider Alan Ginsburg Sells 50,129 Shares

BRT Apartments Corp. (NYSE:BRT) Director Alan Ginsburg sold 50,129 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $13.43, for a total value of $673,232.47. Following the sale, the director directly owned 24,800 shares in the company, valued at $333,064. This trade represents a 66.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

BRT Apartments Price Performance

NYSE BRT traded up $0.27 during mid-day trading on Tuesday, hitting $13.36. The stock had a trading volume of 70,014 shares, compared to its average volume of 45,399. BRT Apartments Corp. has a 52-week low of $13.09 and a 52-week high of $15.63. The company has a market cap of $250.94 million, a price-to-earnings ratio of -19.08 and a beta of 0.86. The company has a 50 day simple moving average of $14.03 and a 200 day simple moving average of $14.40. 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 (NYSE:BRT) last posted its earnings results on Monday, August 10th. The financial services provider reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The company had revenue of $24.47 million for the quarter, compared to the consensus estimate of $24.36 million. BRT Apartments had a negative return on equity of 7.46% and a negative net margin of 13.22%. Equities analysts forecast that BRT Apartments Corp. will post 1.46 EPS for the current fiscal year.

BRT Apartments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Monday, September 28th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend was Monday, September 28th. BRT Apartments’s payout ratio is -142.86%.

Institutional Investors Weigh In On BRT Apartments

A number of large investors have recently bought and sold shares of BRT. Odyssean LLC purchased a new stake in shares of BRT Apartments in the second quarter valued at $207,000. Public Employees Retirement System of Ohio purchased a new stake in BRT Apartments during the 2nd quarter worth about $172,000. Bank of America Corp DE purchased a new stake in BRT Apartments during the 2nd quarter worth about $182,000. Capital Square LLC purchased a new stake in BRT Apartments during the 2nd quarter worth about $309,000. Finally, BlackRock Inc. acquired a new position in BRT Apartments in the 2nd quarter valued at about $16,311,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust (REIT) focused on the ownership and operation of multifamily apartment communities. Through its property portfolio and joint-venture investments, the company provides residential rental housing to individuals and families.

The company’s activities include acquiring, developing, repositioning, renovating and managing apartment properties. Its communities generally operate under the BRT Apartments name or other property-specific brands and offer conventional rental housing with amenities and services intended to support residents.

BRT primarily targets markets in the Sun Belt and other growing regions of the United States, with a focus on multifamily properties in the Southeast and Southwest.