BRT Apartments’ (BRT) “Market Outperform” Rating Reiterated at Citizens Jmp

Citizens Jmp reaffirmed their market outperform rating on shares of BRT Apartments (NYSE:BRT) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $20.00 price target on the financial services provider’s stock.

Other research analysts also recently issued reports about the stock. Zacks Research raised shares of BRT Apartments to a “hold” rating in a research report on Monday, July 13th. Wall Street Zen upgraded shares of BRT Apartments from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings lowered shares of BRT Apartments from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Finally, Citigroup reiterated a “market outperform” rating on shares of BRT Apartments in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.75.

BRT Apartments Trading Down 0.2%

Shares of NYSE BRT opened at $14.59 on Thursday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 3.16. BRT Apartments has a 12 month low of $13.18 and a 12 month high of $16.69. The company has a market cap of $274.15 million, a price-to-earnings ratio of -20.84 and a beta of 0.85. The business has a fifty day simple moving average of $14.81 and a 200-day simple moving average of $14.53.

BRT Apartments (NYSE:BRT) last issued its quarterly earnings results on Monday, August 10th. The financial services provider reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The firm 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%. Sell-side analysts predict that BRT Apartments will post 1.5 EPS for the current year.

BRT Apartments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Thursday, June 25th. BRT Apartments’s payout ratio is currently -142.86%.

Hedge Funds Weigh In On BRT Apartments

A number of hedge funds have recently added to or reduced their stakes in BRT. Odyssean LLC acquired a new stake in BRT Apartments in the second quarter valued at approximately $207,000. Public Employees Retirement System of Ohio bought a new stake in BRT Apartments in the second quarter worth approximately $172,000. Bank of America Corp DE acquired a new position in shares of BRT Apartments during the 2nd quarter worth $182,000. Capital Square LLC acquired a new position in shares of BRT Apartments during the 2nd quarter worth $309,000. Finally, Great Lakes Advisors LLC acquired a new position in shares of BRT Apartments during the 2nd quarter worth $1,995,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

About BRT Apartments

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.