BRT Apartments (NYSE:BRT) Director Alan Ginsburg Sells 50,129 Shares of Company Stock

BRT Apartments Corp. (NYSE:BRT) Director Alan Ginsburg sold 50,129 shares of the business’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $13.43, for a total value of $673,232.47. Following the completion of the transaction, the director owned 24,800 shares of the company’s stock, valued at $333,064. This represents a 66.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

BRT Apartments Stock Performance

Shares of NYSE BRT opened at $13.36 on Wednesday. The firm’s 50-day moving average price is $14.01 and its 200-day moving average price is $14.40. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 3.16. The company has a market cap of $250.94 million, a PE ratio of 9.03 and a beta of 0.86. BRT Apartments Corp. has a 52-week low of $13.09 and a 52-week high of $15.63.

BRT Apartments (NYSE:BRT) last released its quarterly earnings data on Monday, August 10th. The financial services provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. The firm had revenue of $24.47 million during the quarter, compared to analysts’ expectations of $24.36 million. BRT Apartments had a negative net margin of 13.22% and a negative return on equity of 7.46%. As a group, analysts anticipate that BRT Apartments Corp. will post 1.46 EPS for the current year.

BRT Apartments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Monday, September 28th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend was Monday, September 28th. BRT Apartments’s payout ratio is -142.86%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BRT. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of BRT Apartments during the 2nd quarter worth $130,000. Deutsche Bank AG purchased a new stake in shares of BRT Apartments in the 2nd quarter worth $150,000. Public Employees Retirement System of Ohio increased its stake in shares of BRT Apartments by 227.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 12,362 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 8,591 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of BRT Apartments in the 2nd quarter worth $168,000. Finally, Bank of America Corp DE bought a new position in BRT Apartments in the 2nd quarter worth $182,000. 29.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BRT shares. Citizens Jmp reiterated a “market outperform” rating and set a $20.00 target price on shares of BRT Apartments in a research note on Thursday, August 20th. Zacks Research upgraded BRT Apartments to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings lowered BRT Apartments from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of BRT Apartments in a report on Thursday, August 20th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.00.

About BRT Apartments

BRT Apartments Corp. is a real estate investment trust (REIT) focused on the ownership and operation of multifamily apartment communities. Through its property portfolio and joint-venture investments, the company provides residential rental housing to individuals and families.

The company’s activities include acquiring, developing, repositioning, renovating and managing apartment properties. Its communities generally operate under the BRT Apartments name or other property-specific brands and offer conventional rental housing with amenities and services intended to support residents.

BRT primarily targets markets in the Sun Belt and other growing regions of the United States, with a focus on multifamily properties in the Southeast and Southwest.