B. Riley Analysts Reduce Earnings Estimates for BRT Apartments Corp (BRT)
BRT Apartments Corp (NYSE:BRT) – Analysts at B. Riley decreased their Q2 2019 earnings per share estimates for shares of BRT Apartments in a research report issued on Tuesday, May 14th. B. Riley analyst C. Kucera now expects that the financial services provider will earn $0.21 per share for the quarter, down from their previous forecast of $0.22. B. Riley also issued estimates for BRT Apartments’ Q3 2019 earnings at $0.20 EPS, Q4 2019 earnings at $0.23 EPS, FY2019 earnings at $0.83 EPS, Q1 2020 earnings at $0.26 EPS, Q2 2020 earnings at $0.27 EPS, Q3 2020 earnings at $0.23 EPS and Q4 2020 earnings at $0.28 EPS.
Several other analysts have also recently issued reports on the company. Zacks Investment Research cut BRT Apartments from a “hold” rating to a “sell” rating in a report on Thursday, January 17th. DA Davidson assumed coverage on BRT Apartments in a research report on Thursday, March 28th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Compass Point assumed coverage on BRT Apartments in a research report on Tuesday, January 22nd. They set a “neutral” rating and a $13.50 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $15.38.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA raised its position in BRT Apartments by 534.1% in the first quarter. BNP Paribas Arbitrage SA now owns 2,137 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,800 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of BRT Apartments during the 4th quarter worth about $32,000. JPMorgan Chase & Co. boosted its position in shares of BRT Apartments by 79.4% during the 1st quarter. JPMorgan Chase & Co. now owns 4,137 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 1,831 shares in the last quarter. LSV Asset Management acquired a new position in shares of BRT Apartments during the 4th quarter worth about $68,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of BRT Apartments in the 1st quarter valued at about $141,000. 30.65% of the stock is currently owned by institutional investors.
About BRT Apartments
BRT is a real estate investment trust that owns, operates and develops multi-family properties. Interested parties are urged to review the Form 10-Q filed with the Securities and Exchange Commission for the quarter ended December 31, 2018 and the supplemental disclosures regarding the quarter on the investor relations section of the Company's website.
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