BRT Apartments (NYSE:BRT) Rating Reiterated by JMP Securities

JMP Securities restated their market outperform rating on shares of BRT Apartments (NYSE:BRT) in a report released on Tuesday, Benzinga reports. They currently have a $24.00 price objective on the financial services provider’s stock.

Separately, B. Riley boosted their price objective on BRT Apartments from $19.50 to $20.50 and gave the stock a buy rating in a research report on Friday, May 17th.

BRT Apartments Stock Performance

Shares of BRT opened at $17.26 on Tuesday. The company has a market capitalization of $321.73 million, a PE ratio of 78.46, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.10 and a quick ratio of 1.10. BRT Apartments has a one year low of $15.21 and a one year high of $20.69. The company’s fifty day moving average price is $17.31 and its 200 day moving average price is $17.41.

BRT Apartments Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, March 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.79%. The ex-dividend date was Tuesday, March 26th. BRT Apartments’s payout ratio is currently 454.57%.

Insiders Place Their Bets

In related news, SVP Matthew J. Gould acquired 11,200 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average price of $16.14 per share, with a total value of $180,768.00. Following the completion of the transaction, the senior vice president now owns 3,547,873 shares of the company’s stock, valued at $57,262,670.22. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BRT Apartments news, major shareholder Investors L. P. Gould purchased 2,277 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were purchased at an average price of $16.29 per share, for a total transaction of $37,092.33. Following the completion of the purchase, the insider now directly owns 3,527,936 shares of the company’s stock, valued at $57,470,077.44. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Matthew J. Gould acquired 11,200 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average price of $16.14 per share, with a total value of $180,768.00. Following the purchase, the senior vice president now owns 3,547,873 shares in the company, valued at approximately $57,262,670.22. The disclosure for this purchase can be found here. Insiders have purchased 107,349 shares of company stock worth $1,785,491 in the last ninety days. Insiders own 40.20% of the company’s stock.

Institutional Trading of BRT Apartments

Institutional investors have recently made changes to their positions in the business. Orion Capital Management LLC bought a new position in BRT Apartments during the third quarter worth about $35,000. SG Americas Securities LLC bought a new position in shares of BRT Apartments during the 4th quarter worth approximately $123,000. BNP Paribas Financial Markets boosted its stake in BRT Apartments by 187.0% in the 1st quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock valued at $139,000 after buying an additional 5,384 shares in the last quarter. Clear Creek Financial Management LLC bought a new stake in BRT Apartments in the fourth quarter valued at $263,000. Finally, Allspring Global Investments Holdings LLC raised its stake in BRT Apartments by 142.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 18,740 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 11,013 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

About BRT Apartments

BRT is a real estate investment trust that owns, operates and, to a lesser extent, holds interests in joint ventures that own multi-family properties. As of December 31, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.