BRT Apartments (NYSE:BRT) Releases Earnings Results, Misses Estimates By $0.02 EPS

BRT Apartments (NYSE:BRT) announced its earnings results on Thursday. The financial services provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02), FiscalAI reports. The business had revenue of $24.73 million during the quarter, compared to analyst estimates of $24.61 million. BRT Apartments had a negative net margin of 13.22% and a negative return on equity of 7.46%.

BRT Apartments Stock Performance

Shares of NYSE BRT traded down $0.12 during mid-day trading on Friday, hitting $12.63. 53,500 shares of the company were exchanged, compared to its average volume of 56,594. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 3.16. The stock has a 50 day simple moving average of $13.61 and a 200-day simple moving average of $14.32. BRT Apartments has a 1-year low of $12.51 and a 1-year high of $15.63. The firm has a market cap of $237.41 million, a price-to-earnings ratio of -15.99 and a beta of 0.87.

BRT Apartments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Monday, September 28th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.9%. The ex-dividend date was Monday, September 28th. BRT Apartments’s dividend payout ratio is -142.86%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other BRT Apartments news, Director Alan Ginsburg sold 50,129 shares of the business’s 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 transaction, the director directly owned 24,800 shares of the company’s stock, valued at approximately $333,064. The trade was a 66.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 42.20% of the stock is currently owned by company insiders.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust (REIT) that owns, operates and invests in multifamily apartment communities. The company’s portfolio is focused primarily on garden-style and other conventional residential properties, generating rental income from apartments and related services.

BRT typically invests through direct ownership and joint ventures, and its properties are concentrated largely in the Southeastern United States, with additional exposure to selected markets in other regions.