Shares of BRT Apartments Corp. (NYSE:BRT) have received a consensus rating of “Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $20.63.
A number of research firms have issued reports on BRT. B. Riley upped their price target on shares of BRT Apartments from $12.50 to $16.50 and gave the company a “neutral” rating in a report on Monday, March 22nd. BTIG Research began coverage on shares of BRT Apartments in a report on Monday, January 11th. They set a “neutral” rating for the company. JMP Securities upped their price target on shares of BRT Apartments from $15.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, January 19th. DA Davidson upped their price target on shares of BRT Apartments from $15.00 to $23.00 and gave the company a “buy” rating in a report on Monday, March 15th. Finally, Zacks Investment Research raised shares of BRT Apartments from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, March 16th.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Concorde Asset Management LLC raised its position in shares of BRT Apartments by 126.3% during the first quarter. Concorde Asset Management LLC now owns 25,252 shares of the financial services provider’s stock valued at $425,000 after buying an additional 14,094 shares during the last quarter. State of Alaska Department of Revenue raised its position in BRT Apartments by 36.5% in the first quarter. State of Alaska Department of Revenue now owns 4,071 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,088 shares in the last quarter. Dimensional Fund Advisors LP raised its position in BRT Apartments by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 116,123 shares of the financial services provider’s stock worth $1,765,000 after purchasing an additional 12,159 shares in the last quarter. Orion Capital Management LLC acquired a new position in BRT Apartments in the fourth quarter worth about $30,000. Finally, JPMorgan Chase & Co. raised its position in BRT Apartments by 42.4% in the fourth quarter. JPMorgan Chase & Co. now owns 68,967 shares of the financial services provider’s stock worth $1,048,000 after purchasing an additional 20,519 shares in the last quarter. 32.34% of the stock is owned by institutional investors and hedge funds.
BRT Apartments (NYSE:BRT) last released its quarterly earnings results on Friday, March 12th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.07. BRT Apartments had a negative net margin of 37.22% and a negative return on equity of 5.35%. As a group, research analysts anticipate that BRT Apartments will post 0.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 7th. Stockholders of record on Wednesday, March 24th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Tuesday, March 23rd.
About BRT Apartments
BRT is a real estate investment trust that owns, operates and develops multi-family properties.
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