BRT Realty Trust (NYSE:BRT) announced that its Board of Directors has initiated a share repurchase plan, which authorizes the company to buyback $5.00 million in shares on Tuesday, September 12th, EventVestor reports. This buyback authorization authorizes the financial services provider to repurchase up to 3.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Shares of BRT Realty Trust (NYSE:BRT) opened at 10.26 on Friday. The firm’s 50-day moving average is $8.15 and its 200-day moving average is $8.04. The stock has a market capitalization of $143.90 million, a price-to-earnings ratio of 13.00 and a beta of 0.16. BRT Realty Trust has a one year low of $7.36 and a one year high of $10.46.

BRT Realty Trust (NYSE:BRT) last issued its quarterly earnings results on Tuesday, August 8th. The financial services provider reported ($0.24) EPS for the quarter. BRT Realty Trust had a return on equity of 5.07% and a net margin of 10.81%. The firm had revenue of $26.86 million for the quarter. Equities research analysts forecast that BRT Realty Trust will post ($0.63) EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Monday, September 25th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 7.02%. The ex-dividend date is Friday, September 22nd.

Separately, TheStreet lowered shares of BRT Realty Trust from a “c” rating to a “d+” rating in a report on Friday, August 25th.

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About BRT Realty Trust

BRT Apartments Corp. is a real estate investment trust (REIT). The Trust is focused on the ownership, operation and development of multi-family properties. These activities are primarily conducted through joint ventures in which the Trust has an equity interest in the entity owning the property. The Trust’s segments include Multi-Family Real Estate and Other Assets.

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