StockNews.com Downgrades BRT Apartments (NYSE:BRT) to Sell

StockNews.com downgraded shares of BRT Apartments (NYSE:BRT) from a hold rating to a sell rating in a report published on Tuesday.

Several other equities research analysts have also recently issued reports on BRT. B. Riley cut their price target on BRT Apartments from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Colliers Securities lowered BRT Apartments from a “buy” rating to a “neutral” rating in a report on Thursday, March 13th.

BRT Apartments Stock Performance

NYSE BRT opened at $16.53 on Tuesday. The firm has a 50-day moving average price of $17.65 and a two-hundred day moving average price of $17.92. BRT Apartments has a 12-month low of $15.92 and a 12-month high of $20.22. The company has a market capitalization of $312.91 million, a P/E ratio of -31.19 and a beta of 1.11. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 2.31.

BRT Apartments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 6.05%. BRT Apartments’s dividend payout ratio (DPR) is -188.68%.

Insiders Place Their Bets

In other news, CFO George Zweier sold 2,143 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $18.06, for a total value of $38,702.58. Following the sale, the chief financial officer now directly owns 120,797 shares in the company, valued at approximately $2,181,593.82. This trade represents a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 40.20% of the company’s stock.

Hedge Funds Weigh In On BRT Apartments

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of BRT Apartments by 62.7% during the fourth quarter. Vanguard Group Inc. now owns 1,113,057 shares of the financial services provider’s stock worth $20,068,000 after buying an additional 429,046 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of BRT Apartments during the 3rd quarter valued at $1,594,000. Raymond James Financial Inc. bought a new stake in BRT Apartments during the 4th quarter worth $795,000. Wealth Alliance increased its holdings in BRT Apartments by 141.7% in the 4th quarter. Wealth Alliance now owns 65,621 shares of the financial services provider’s stock worth $1,183,000 after purchasing an additional 38,475 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in BRT Apartments in the third quarter valued at about $320,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust. It engages in the ownership, operation, and holding interests in joint ventures that own and operate multi-family properties. The company was founded in June 1972 and is headquartered in Great Neck, NY.