BRT Apartments Corp. (NYSE:BRT) Sees Large Growth in Short Interest

BRT Apartments Corp. (NYSE:BRT) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 99,500 shares, an increase of 22.2% from the August 15th total of 81,400 shares. Based on an average trading volume of 27,500 shares, the short-interest ratio is presently 3.6 days. Approximately 0.9% of the company’s shares are sold short.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. B. Riley boosted their price objective on BRT Apartments from $20.50 to $21.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. JMP Securities restated a “market outperform” rating and set a $24.00 price target on shares of BRT Apartments in a report on Tuesday, May 21st.

BRT Apartments Trading Up 0.4 %

Shares of BRT Apartments stock opened at $19.08 on Tuesday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.90 and a current ratio of 0.90. BRT Apartments has a 52 week low of $15.21 and a 52 week high of $20.12. The stock has a 50 day moving average price of $18.26 and a two-hundred day moving average price of $17.55. The stock has a market capitalization of $355.67 million, a PE ratio of 86.73, a price-to-earnings-growth ratio of 2.02 and a beta of 1.07.

BRT Apartments (NYSE:BRT) last posted its quarterly earnings results on Friday, August 9th. The financial services provider reported ($0.13) earnings per share (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 analyst estimates of $23.45 million. During the same period in the previous year, the business posted $0.37 EPS. As a group, equities analysts anticipate that BRT Apartments will post 1.5 earnings per share for the current fiscal year.

BRT Apartments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors 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 5.24%. BRT Apartments’s dividend payout ratio is presently 454.55%.

Institutional Trading of BRT Apartments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer & Close LLC grew its holdings in BRT Apartments by 3.4% during the first quarter. Oppenheimer & Close LLC now owns 347,774 shares of the financial services provider’s stock worth $5,843,000 after buying an additional 11,287 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of BRT Apartments by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock worth $10,357,000 after acquiring an additional 9,483 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of BRT Apartments by 187.0% in the 1st quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 5,384 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of BRT Apartments by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 97,281 shares of the financial services provider’s stock valued at $1,699,000 after purchasing an additional 5,207 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in BRT Apartments by 2.3% during the second 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 during the last quarter. 29.07% of the stock is owned by institutional investors.

BRT Apartments Company Profile

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.