BRT Apartments Corp. (NYSE:BRT) to Issue $0.25 Quarterly Dividend

BRT Apartments Corp. (NYSE:BRT) announced a quarterly dividend on Thursday, September 17th. Stockholders of record on Monday, September 28th will be paid a dividend of 0.25 per share by the financial services provider on Tuesday, October 6th. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Monday, September 28th.

BRT Apartments has increased its dividend by an average of 0.0%annually over the last three years. BRT Apartments has a payout ratio of -181.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect BRT Apartments to earn $1.54 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 64.9%.

BRT Apartments Stock Performance

Shares of NYSE BRT opened at $13.83 on Friday. The stock’s fifty day simple moving average is $14.58 and its 200 day simple moving average is $14.48. The stock has a market capitalization of $259.98 million, a price-to-earnings ratio of -19.76 and a beta of 0.83. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 3.16. BRT Apartments has a 52-week low of $13.18 and a 52-week high of $16.66.

BRT Apartments (NYSE:BRT) last released its quarterly earnings results on Monday, August 10th. The financial services provider reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. The business 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%. As a group, sell-side analysts forecast that BRT Apartments will post 1.46 earnings per share for the current fiscal year.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust (REIT) focused on the ownership, operation and development of multifamily residential properties. Its portfolio primarily consists of apartment communities, including garden-style properties, that generate rental income from individual residents.

The company invests in and manages multifamily properties in selected markets across the United States, with a focus on regions including the Southeast, Texas and Arizona. Its activities include acquiring apartment communities, overseeing property operations, and pursuing renovations or other improvements intended to support the long-term performance of its residential portfolio.

BRT Apartments Corp.