BRT Apartments (NYSE:BRT) Rating Lowered to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of BRT Apartments (NYSE:BRT) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

A number of other research analysts have also recently commented on the stock. B. Riley dropped their target price on shares of BRT Apartments from $22.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, March 27th. Colliers Securities lowered shares of BRT Apartments from a “buy” rating to a “neutral” rating in a report on Thursday, March 13th.

BRT Apartments Stock Down 2.0%

BRT stock opened at $15.31 on Thursday. The stock has a market capitalization of $289.84 million, a P/E ratio of -28.89 and a beta of 1.07. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 2.31. BRT Apartments has a 12 month low of $14.61 and a 12 month high of $20.22. The firm has a 50-day moving average price of $16.07 and a 200-day moving average price of $17.40.

BRT Apartments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Thursday, March 27th were issued a $0.25 dividend. The ex-dividend date was Thursday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 6.53%. BRT Apartments’s dividend payout ratio (DPR) is presently -208.33%.

Insider Activity at BRT Apartments

In other news, major shareholder Investors L. P. Gould purchased 10,119 shares of the stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $15.45 per share, for a total transaction of $156,338.55. Following the acquisition, the insider now owns 3,914,065 shares in the company, valued at $60,472,304.25. This trade represents a 0.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO George Zweier sold 2,143 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $18.06, for a total transaction of $38,702.58. Following the transaction, the chief financial officer now owns 120,797 shares of the company’s stock, valued at approximately $2,181,593.82. The trade was a 1.74% decrease in their position. The disclosure for this sale can be found here. 42.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BRT. Vanguard Group Inc. raised its holdings in BRT Apartments by 62.7% during the 4th quarter. Vanguard Group Inc. now owns 1,113,057 shares of the financial services provider’s stock worth $20,068,000 after purchasing an additional 429,046 shares during the last quarter. Advisor Resource Council bought a new position in BRT Apartments during the 1st quarter worth approximately $994,000. Raymond James Financial Inc. bought a new position in BRT Apartments during the 4th quarter worth approximately $795,000. Nuveen LLC bought a new position in BRT Apartments during the 1st quarter worth approximately $673,000. Finally, Wealth Alliance raised its holdings in BRT Apartments by 141.7% during the 4th quarter. Wealth Alliance now owns 65,621 shares of the financial services provider’s stock worth $1,183,000 after purchasing an additional 38,475 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust. It engages in the ownership, operation, and holding interests in joint ventures that own and operate multi-family properties. The company was founded in June 1972 and is headquartered in Great Neck, NY.