BRT Apartments (NYSE:BRT) Announces Quarterly Earnings Results, Misses Expectations By $0.50 EPS

BRT Apartments (NYSE:BRT) issued its quarterly earnings data on Friday. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.50), Zacks reports. The business had revenue of $23.86 million for the quarter, compared to analysts’ expectations of $23.45 million. BRT Apartments had a return on equity of 2.06% and a net margin of 5.10%. During the same period in the previous year, the business posted $0.37 earnings per share.

BRT Apartments Stock Performance

Shares of BRT Apartments stock traded down $0.34 on Monday, reaching $17.21. 34,857 shares of the stock were exchanged, compared to its average volume of 34,925. The firm has a market capitalization of $320.81 million, a PE ratio of 78.23, a PEG ratio of 2.05 and a beta of 1.06. BRT Apartments has a 1-year low of $15.21 and a 1-year high of $20.12. The business has a fifty day moving average price of $17.78 and a two-hundred day moving average price of $17.20. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.08.

BRT Apartments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 25th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend was Tuesday, June 25th. BRT Apartments’s dividend payout ratio (DPR) is presently 454.55%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. JMP Securities reissued a “market outperform” rating and set a $24.00 price target on shares of BRT Apartments in a report on Tuesday, May 21st. B. Riley increased their price objective on BRT Apartments from $19.50 to $20.50 and gave the stock a “buy” rating in a research report on Friday, May 17th.

About BRT Apartments

BRT is a real estate investment trust that owns, operates and, to a lesser extent, holds interests in joint ventures that own multi-family properties. As of December 31, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.