BRT Apartments (NYSE:BRT) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

BRT Apartments Corp. (NYSE:BRT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.56 and traded as high as $14.59. BRT Apartments shares last traded at $14.4750, with a volume of 60,926 shares.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of BRT Apartments to a “hold” rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of BRT Apartments from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 6th. Wall Street Zen raised shares of BRT Apartments from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Citigroup restated a “market outperform” rating on shares of BRT Apartments in a research note on Friday, May 29th. Three 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. According to MarketBeat, BRT Apartments has an average rating of “Hold” and a consensus price target of $19.75.

BRT Apartments Price Performance

The stock has a 50 day moving average of $14.86 and a 200-day moving average of $14.56. The company has a debt-to-equity ratio of 3.00, a quick ratio of 2.14 and a current ratio of 2.14. The company has a market cap of $271.82 million, a PE ratio of -22.22 and a beta of 0.85.

BRT Apartments (NYSE:BRT) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.06. BRT Apartments had a negative return on equity of 6.77% and a negative net margin of 12.59%.The business had revenue of $24.61 million for the quarter, compared to the consensus estimate of $24.28 million. Equities analysts predict that BRT Apartments Corp. will post 1.5 earnings per share for the current year.

BRT Apartments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 25th were given a $0.25 dividend. The ex-dividend date was Thursday, June 25th. This represents a $1.00 dividend on an annualized basis and a yield of 6.9%. BRT Apartments’s dividend payout ratio is currently -153.85%.

Hedge Funds Weigh In On BRT Apartments

Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in shares of BRT Apartments by 725.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,751 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,539 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of BRT Apartments by 111.8% during the second quarter. Osaic Holdings Inc. now owns 1,809 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 955 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of BRT Apartments by 1,171.8% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,073 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,910 shares during the last quarter. Strs Ohio acquired a new position in BRT Apartments during the first quarter valued at $39,000. Finally, BNP Paribas Financial Markets lifted its position in BRT Apartments by 388.9% during the second quarter. BNP Paribas Financial Markets now owns 3,139 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 2,497 shares during the period. 29.07% of the stock is owned by hedge funds and other institutional investors.

About BRT Apartments

BRT Apartments Corp. is an equity real estate investment trust (REIT) that acquires, owns and operates multi-family residential properties. The company targets mid-market apartment communities and seeks value-add opportunities through renovations, operational efficiencies and active asset management. Its investment strategy is focused on generating stable, long-term rental income and potential capital appreciation from its portfolio of rental properties.

Established in 2013, BRT Apartments Corp.