BRT Apartments Corp. (NYSE:BRT) Short Interest Update

BRT Apartments Corp. (NYSE:BRT) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 105,100 shares, a growth of 8.6% from the October 31st total of 96,800 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 40,700 shares, the short-interest ratio is currently 2.6 days.

BRT Apartments Price Performance

Shares of NYSE:BRT traded down $0.15 during midday trading on Wednesday, hitting $19.24. The company had a trading volume of 5,334 shares, compared to its average volume of 35,826. The business’s 50-day simple moving average is $18.06 and its 200-day simple moving average is $17.98. The stock has a market cap of $361.90 million, a price-to-earnings ratio of -36.58, a price-to-earnings-growth ratio of 2.33 and a beta of 1.11. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.94 and a quick ratio of 1.94. BRT Apartments has a twelve month low of $15.21 and a twelve month high of $20.22.

BRT Apartments (NYSE:BRT) last posted its quarterly earnings results on Thursday, November 7th. The financial services provider reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.35 by ($0.47). BRT Apartments had a negative return on equity of 4.33% and a negative net margin of 9.94%. The company had revenue of $24.40 million for the quarter, compared to analysts’ expectations of $23.80 million. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, research analysts predict that BRT Apartments will post 1.42 earnings per share for the current year.

BRT Apartments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend was Tuesday, September 24th. BRT Apartments’s payout ratio is presently -188.68%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC purchased a new position in shares of BRT Apartments during the 3rd quarter worth $1,594,000. Tidal Investments LLC purchased a new position in BRT Apartments during the third quarter worth about $320,000. Barclays PLC increased its position in shares of BRT Apartments by 295.2% during the third quarter. Barclays PLC now owns 14,690 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 10,973 shares during the last quarter. Noesis Capital Mangement Corp purchased a new stake in shares of BRT Apartments in the 3rd quarter valued at approximately $176,000. Finally, Vanguard Group Inc. lifted its holdings 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 during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley upped their price target on shares of BRT Apartments from $20.50 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th.

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.