BRT Apartments (NYSE:BRT) Stock: Insider Alan Ginsburg Sells 50,129 Shares

BRT Apartments Corp. (NYSE:BRT) Director Alan Ginsburg sold 50,129 shares of BRT Apartments stock in a transaction on Friday, October 16th. The shares were sold at an average price of $13.43, for a total value of $673,232.47. Following the completion of the transaction, the director owned 24,800 shares of the company’s stock, valued at approximately $333,064. This trade represents a 66.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

BRT Apartments Price Performance

Shares of NYSE BRT opened at $12.93 on Thursday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.75 and a current ratio of 1.75. BRT Apartments Corp. has a fifty-two week low of $12.85 and a fifty-two week high of $15.63. The stock has a market cap of $242.94 million, a PE ratio of -18.47 and a beta of 0.86. The stock has a fifty day moving average of $13.98 and a 200-day moving average of $14.39.

BRT Apartments (NYSE:BRT) last issued its quarterly earnings data on Monday, August 10th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $24.47 million for the quarter, compared to analysts’ expectations of $24.36 million. BRT Apartments had a negative return on equity of 7.46% and a negative net margin of 13.22%. Equities research analysts anticipate that BRT Apartments Corp. will post 1.46 earnings per share for the current year.

BRT Apartments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Monday, September 28th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Monday, September 28th. BRT Apartments’s payout ratio is presently -142.86%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Citizens Jmp reissued a “market outperform” rating and issued a $20.00 price target on shares of BRT Apartments in a report on Thursday, August 20th. Citigroup restated a “market outperform” rating on shares of BRT Apartments in a research report on Thursday, August 20th. Zacks Research raised shares of BRT Apartments to a “hold” rating in a research note on Monday, July 13th. Finally, Weiss Ratings lowered shares of BRT Apartments from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.00.

Institutional Investors Weigh In On BRT Apartments

A number of institutional investors and hedge funds have recently made changes to their positions in BRT. BlackRock Inc. bought a new stake in BRT Apartments during the second quarter valued at $16,311,000. Bank of New York Mellon Corp purchased a new position in BRT Apartments during the second quarter worth about $1,336,000. Capital Square LLC purchased a new position in BRT Apartments during the second quarter worth about $309,000. Odyssean LLC purchased a new position in BRT Apartments during the second quarter worth about $207,000. Finally, Public Employees Retirement System of Ohio increased its stake in BRT Apartments by 227.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 12,362 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 8,591 shares during the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust (REIT) focused on the ownership and operation of multifamily apartment communities. Through its property portfolio and joint-venture investments, the company provides residential rental housing to individuals and families.

The company’s activities include acquiring, developing, repositioning, renovating and managing apartment properties. Its communities generally operate under the BRT Apartments name or other property-specific brands and offer conventional rental housing with amenities and services intended to support residents.

BRT primarily targets markets in the Sun Belt and other growing regions of the United States, with a focus on multifamily properties in the Southeast and Southwest.