BRT Apartments (NYSE:BRT) Posts Earnings Results, Beats Estimates By $0.56 EPS

BRT Apartments (NYSE:BRT) announced its quarterly earnings results on Monday. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.56, Zacks reports. BRT Apartments had a negative return on equity of 6.77% and a negative net margin of 12.59%.The company had revenue of $24.47 million during the quarter, compared to analysts’ expectations of $24.59 million.

BRT Apartments Stock Down 1.9%

Shares of NYSE BRT opened at $14.14 on Tuesday. The firm’s fifty day moving average is $14.86 and its 200 day moving average is $14.55. BRT Apartments has a 52 week low of $13.18 and a 52 week high of $16.69. The company has a market cap of $266.04 million, a price-to-earnings ratio of -21.75 and a beta of 0.85. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 3.00.

BRT Apartments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 25th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend was Thursday, June 25th. BRT Apartments’s payout ratio is presently -153.85%.

Wall Street Analyst Weigh In

Several brokerages have commented on BRT. Wall Street Zen upgraded BRT Apartments from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Citigroup reiterated a “market outperform” rating on shares of BRT Apartments in a research report on Friday, May 29th. Zacks Research upgraded shares of BRT Apartments to a “hold” rating in a research report on Monday, July 13th. Finally, Weiss Ratings raised shares of BRT Apartments from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.75.

Hedge Funds Weigh In On BRT Apartments

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of BRT Apartments by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 289,073 shares of the financial services provider’s stock worth $4,522,000 after acquiring an additional 1,837 shares in the last quarter. State Street Corp boosted its position in shares of BRT Apartments by 3.3% during the fourth quarter. State Street Corp now owns 256,769 shares of the financial services provider’s stock valued at $3,837,000 after purchasing an additional 8,226 shares in the last quarter. Permanens Capital L.P. grew its stake in BRT Apartments by 21.4% in the third quarter. Permanens Capital L.P. now owns 201,263 shares of the financial services provider’s stock worth $3,192,000 after purchasing an additional 35,415 shares during the period. Stifel Financial Corp grew its stake in BRT Apartments by 26.4% in the fourth quarter. Stifel Financial Corp now owns 169,390 shares of the financial services provider’s stock worth $2,490,000 after purchasing an additional 35,420 shares during the period. Finally, Boston Partners raised its holdings in BRT Apartments by 12.5% in the fourth quarter. Boston Partners now owns 124,434 shares of the financial services provider’s stock worth $1,829,000 after purchasing an additional 13,794 shares in the last quarter. 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.