Q3 2024 Earnings Forecast for BRT Apartments Corp. (NYSE:BRT) Issued By B. Riley

BRT Apartments Corp. (NYSE:BRT) – Investment analysts at B. Riley lowered their Q3 2024 earnings per share estimates for BRT Apartments in a note issued to investors on Thursday, September 12th. B. Riley analyst J. Massocca now anticipates that the financial services provider will post earnings per share of $0.35 for the quarter, down from their prior forecast of $0.38. B. Riley currently has a “Buy” rating and a $21.00 target price on the stock. The consensus estimate for BRT Apartments’ current full-year earnings is $1.50 per share. B. Riley also issued estimates for BRT Apartments’ Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $1.42 EPS and FY2025 earnings at $1.50 EPS.

BRT Apartments (NYSE:BRT) last announced its 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). The company had revenue of $23.86 million for the quarter, compared to analyst estimates of $23.45 million. BRT Apartments had a negative return on equity of 3.89% and a negative net margin of 9.24%. During the same quarter last year, the business posted $0.37 earnings per share.

Separately, JMP Securities reiterated a “market outperform” rating and set a $24.00 target price on shares of BRT Apartments in a report on Tuesday, May 21st.

BRT Apartments Trading Down 1.0 %

Shares of NYSE:BRT opened at $18.89 on Monday. The firm has a market cap of $352.13 million, a price-to-earnings ratio of 85.86, a PEG ratio of 2.02 and a beta of 1.07. BRT Apartments has a 12 month low of $15.21 and a 12 month high of $20.12. The company’s fifty day simple moving average is $18.30 and its 200 day simple moving average is $17.57. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.14.

Hedge Funds Weigh In On BRT Apartments

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in shares of BRT Apartments by 187.0% in the first quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 5,384 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of BRT Apartments by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,466 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 1,726 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of BRT Apartments by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock worth $10,357,000 after purchasing an additional 9,483 shares in the last quarter. ClariVest Asset Management LLC boosted its holdings in shares of BRT Apartments by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 44,767 shares of the financial services provider’s stock valued at $782,000 after buying an additional 1,251 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in BRT Apartments during the second quarter worth $28,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

BRT Apartments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 24th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $1.00 annualized dividend and a yield of 5.29%. BRT Apartments’s payout ratio is currently 454.55%.

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.