BRT Apartments (NYSE:BRT) Releases 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 firm had revenue of $23.86 million for the quarter, compared to analyst estimates 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 prior year, the firm posted $0.37 earnings per share.

BRT Apartments Trading Down 1.6 %

BRT traded down $0.28 during trading on Monday, hitting $17.27. 34,857 shares of the company’s stock were exchanged, compared to its average volume of 34,925. BRT Apartments has a 1 year low of $15.21 and a 1 year high of $20.12. The stock has a 50 day moving average price of $17.78 and a 200 day moving average price of $17.20. The firm has a market cap of $321.93 million, a P/E ratio of 78.23, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Tuesday, June 25th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend was Tuesday, June 25th. BRT Apartments’s dividend payout ratio (DPR) is presently 454.55%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BRT. B. Riley lifted 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. JMP Securities reissued a “market outperform” rating and issued a $24.00 price target on shares of BRT Apartments in a report on Tuesday, May 21st.

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.