BRT Apartments (NYSE:BRT) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

BRT Apartments (NYSE:BRT) announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06, FiscalAI reports. The business had revenue of $24.61 million during the quarter, compared to analysts’ expectations of $24.28 million. BRT Apartments had a negative return on equity of 6.77% and a negative net margin of 12.59%.

BRT Apartments Price Performance

NYSE:BRT traded up $0.10 during trading hours on Thursday, hitting $14.32. 7,305 shares of the stock were exchanged, compared to its average volume of 41,847. BRT Apartments has a 52-week low of $13.18 and a 52-week high of $16.69. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 3.00. The company has a market cap of $269.50 million, a P/E ratio of -22.03 and a beta of 0.86. The firm’s fifty day moving average price is $14.21 and its 200 day moving average price is $14.48.

BRT Apartments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.0%. The ex-dividend date was Friday, March 27th. BRT Apartments’s dividend payout ratio is -153.85%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BRT. Wall Street Zen upgraded shares of BRT Apartments from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Citigroup reissued a “market outperform” rating on shares of BRT Apartments in a research note on Friday, May 29th. Finally, Weiss Ratings upgraded shares of BRT Apartments from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.75.

Institutional Investors Weigh In On BRT Apartments

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

About BRT Apartments

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.