BRT Apartments Corp. Declares Quarterly Dividend of $0.25 (NYSE:BRT)

BRT Apartments Corp. (NYSE:BRT) announced a quarterly dividend on Wednesday, September 11th, Wall Street Journal reports. Shareholders of record on Tuesday, September 24th will be given a dividend of 0.25 per share by the financial services provider on Wednesday, October 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date is Tuesday, September 24th.

BRT Apartments has raised its dividend by an average of 65.7% per year over the last three years. BRT Apartments has a payout ratio of -204.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Price Performance

Shares of BRT stock traded down $0.36 on Wednesday, reaching $18.17. The company’s stock had a trading volume of 17,915 shares, compared to its average volume of 33,180. The stock’s fifty day simple moving average is $18.13 and its 200-day simple moving average is $17.46. BRT Apartments has a 1 year low of $15.21 and a 1 year high of $20.12. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.14. The company has a market capitalization of $338.71 million, a price-to-earnings ratio of 84.23, a price-to-earnings-growth ratio of 2.02 and a beta of 1.07.

BRT Apartments (NYSE:BRT) last posted its earnings results on Friday, August 9th. The financial services provider reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.50). BRT Apartments had a negative net margin of 9.24% and a negative return on equity of 3.89%. The business had revenue of $23.86 million during the quarter, compared to analysts’ expectations of $23.45 million. During the same period last year, the business posted $0.37 earnings per share. Analysts forecast that BRT Apartments will post 1.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BRT has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $24.00 price objective on shares of BRT Apartments in a research note on Tuesday, May 21st. B. Riley increased their price objective on shares of BRT Apartments from $19.50 to $20.50 and gave the company a “buy” rating in a 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.