BRT Apartments (NYSE:BRT) Announces Quarterly Earnings Results

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

BRT Apartments Stock Down 0.9%

Shares of BRT Apartments stock traded down $0.12 during trading on Friday, hitting $12.63. 53,500 shares of the stock traded hands, compared to its average volume of 56,594. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 3.16. The stock’s fifty day simple moving average is $13.61 and its 200 day simple moving average is $14.32. The firm has a market cap of $237.41 million, a P/E ratio of -15.99 and a beta of 0.87. BRT Apartments has a 52-week low of $12.51 and a 52-week high of $15.63.

BRT Apartments Announces Dividend

The company 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. The ex-dividend date was Monday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 7.9%. BRT Apartments’s dividend payout ratio (DPR) is currently -142.86%.

Insiders Place Their Bets

In other BRT Apartments news, Director Alan Ginsburg sold 50,129 shares of the stock in a transaction dated Friday, October 16th. The shares were 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 in the company, valued at $333,064. This represents a 66.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 42.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.