BRT Apartments Corp. $BRT Shares Acquired by Root Financial Partners LLC

Root Financial Partners LLC lifted its stake in shares of BRT Apartments Corp. (NYSE:BRT) by 82.4% during the third quarter, HoldingsChannel.com reports. The fund owned 94,694 shares of the financial services provider’s stock after buying an additional 42,773 shares during the quarter. Root Financial Partners LLC’s holdings in BRT Apartments were worth $1,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of BRT Apartments in the second quarter valued at approximately $16,311,000. Bank of New York Mellon Corp bought a new position in BRT Apartments in the second quarter worth approximately $1,336,000. Capital Square LLC bought a new position in BRT Apartments in the second quarter worth approximately $309,000. Odyssean LLC bought a new position in BRT Apartments in the second quarter worth approximately $207,000. Finally, Public Employees Retirement System of Ohio increased its holdings in BRT Apartments by 227.8% during 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 purchasing an additional 8,591 shares during the period. Institutional investors own 29.07% of the company’s stock.

BRT Apartments Stock Performance

Shares of BRT stock opened at $13.20 on Friday. The business’s fifty day simple moving average is $13.96 and its 200-day simple moving average is $14.39. The company has a market cap of $247.93 million, a PE ratio of 8.86 and a beta of 0.86. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 3.16. BRT Apartments Corp. has a 12-month low of $12.85 and a 12-month high of $15.63.

BRT Apartments (NYSE:BRT) last issued its quarterly earnings data on Monday, August 10th. The financial services provider reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. The firm had revenue of $24.47 million during the quarter, compared to analyst estimates of $24.36 million. BRT Apartments had a negative return on equity of 7.46% and a negative net margin of 13.22%. Analysts expect that BRT Apartments Corp. will post 1.46 earnings per share for the current fiscal year.

BRT Apartments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Investors of record on Monday, September 28th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.6%. The ex-dividend date was Monday, September 28th. BRT Apartments’s payout ratio is -142.86%.

Wall Street Analyst Weigh In

Several research firms have commented on BRT. Citizens Jmp restated a “market outperform” rating and set a $20.00 price objective on shares of BRT Apartments in a report on Thursday, August 20th. Zacks Research upgraded BRT Apartments to a “hold” rating in a report on Monday, July 13th. Weiss Ratings downgraded BRT Apartments from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Finally, Citigroup reissued a “market outperform” rating on shares of BRT Apartments in a research report on Thursday, August 20th. Two equities research 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.00.

Insider Transactions at BRT Apartments

In related news, Director Alan Ginsburg sold 50,129 shares of the company’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $13.43, for a total transaction of $673,232.47. Following the transaction, the director directly owned 24,800 shares of the company’s stock, valued at $333,064. This represents a 66.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 42.20% of the stock is owned by corporate insiders.

BRT Apartments 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.