BRT Apartments (NYSE:BRT) Releases Quarterly Earnings Results, Beats Estimates By $0.56 EPS

BRT Apartments (NYSE:BRT) released its quarterly earnings results on Monday. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.56, Zacks reports. BRT Apartments had a negative net margin of 12.59% and a negative return on equity of 6.77%.

BRT Apartments Price Performance

BRT traded down $0.27 on Monday, hitting $14.14. 27,493 shares of the stock were exchanged, compared to its average volume of 42,464. The firm has a market capitalization of $266.04 million, a price-to-earnings ratio of -21.75 and a beta of 0.85. The company has a debt-to-equity ratio of 3.00, a current ratio of 2.14 and a quick ratio of 2.14. BRT Apartments has a 12 month low of $13.18 and a 12 month high of $16.69. The business has a 50-day moving average of $14.86 and a two-hundred day moving average of $14.55.

BRT Apartments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 25th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend was Thursday, June 25th. BRT Apartments’s payout ratio is -153.85%.

Institutional Trading of BRT Apartments

A number of institutional investors and hedge funds have recently made changes to their positions in BRT. Russell Investments Group Ltd. boosted its holdings in shares of BRT Apartments by 725.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,751 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,539 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of BRT Apartments by 111.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,809 shares of the financial services provider’s stock worth $28,000 after buying an additional 955 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of BRT Apartments by 1,171.8% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,073 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,910 shares during the last quarter. Strs Ohio acquired a new stake in BRT Apartments in the first quarter valued at about $39,000. Finally, BNP Paribas Financial Markets boosted its stake in BRT Apartments by 388.9% in the second quarter. BNP Paribas Financial Markets now owns 3,139 shares of the financial services provider’s stock valued at $49,000 after buying an additional 2,497 shares in the last quarter. Institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

BRT has been the subject of several analyst reports. Citigroup reiterated a “market outperform” rating on shares of BRT Apartments in a research note on Friday, May 29th. Zacks Research raised shares of BRT Apartments to a “hold” rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of BRT Apartments from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 6th. Finally, Wall Street Zen upgraded BRT Apartments from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BRT Apartments has a consensus rating of “Hold” and a consensus price target of $19.75.

BRT Apartments Company Profile

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.