BRT Apartments (NYSE:BRT) Stock Price Passes Above 200 Day Moving Average of $17.45

BRT Apartments Corp. (NYSE:BRT)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.45 and traded as high as $18.54. BRT Apartments shares last traded at $18.53, with a volume of 28,101 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BRT. JMP Securities reiterated a “market outperform” rating and set a $24.00 price objective on shares of BRT Apartments in a research report on Tuesday, May 21st. B. Riley lifted their price target on shares of BRT Apartments from $20.50 to $21.00 and gave the stock a “buy” rating in a report on Thursday.

BRT Apartments Stock Performance

The firm has a market cap of $347.28 million, a PE ratio of 82.59, a P/E/G ratio of 2.02 and a beta of 1.07. The stock has a 50-day moving average price of $18.15 and a 200 day moving average price of $17.47. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.90 and a quick ratio of 0.90.

BRT Apartments (NYSE:BRT) last posted its quarterly earnings results on Friday, August 9th. The financial services provider reported ($0.13) EPS for the quarter, missing the consensus estimate 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 quarter last year, the firm earned $0.37 EPS. Research analysts forecast that BRT Apartments Corp. will post 1.5 earnings per share for the current year.

BRT Apartments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 24th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.37%. BRT Apartments’s dividend payout ratio (DPR) is presently 454.55%.

Institutional Trading of BRT Apartments

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in BRT Apartments by 1.6% during the first quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock valued at $10,357,000 after acquiring an additional 9,483 shares during the period. Oppenheimer & Close LLC grew its holdings in shares of BRT Apartments by 3.4% during the 1st quarter. Oppenheimer & Close LLC now owns 347,774 shares of the financial services provider’s stock worth $5,843,000 after purchasing an additional 11,287 shares during the period. Dimensional Fund Advisors LP increased its position in BRT Apartments by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 157,884 shares of the financial services provider’s stock worth $2,758,000 after purchasing an additional 3,552 shares in the last quarter. Bank of New York Mellon Corp increased its position in BRT Apartments by 5.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 97,281 shares of the financial services provider’s stock worth $1,699,000 after purchasing an additional 5,207 shares in the last quarter. Finally, Albert D Mason Inc. raised its holdings in BRT Apartments by 0.9% in the first quarter. Albert D Mason Inc. now owns 68,740 shares of the financial services provider’s stock valued at $1,155,000 after buying an additional 620 shares during the period. 29.07% of the stock is currently owned by institutional investors and hedge funds.

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.